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Studio Mirai Monthly Update – July 2024

Studio Mirai

• 3 min read

This month has been yet another wild ride with TradePort activity heating up, exciting collaborations for Machin owners, and much more. Let's dive into what we've been shipping and doing this month!

If you’ve been paying attention, you’ve probably noticed that the value of the onchain robots you own has gone up significantly. TradePort activity has been nothing short of a spectacle, routinely seeing collectors purchase thousands of SUI worth of robots in a single sweep throughout the month. While we’re not here to condone financial advice of any kind, it’s safe to say that people really like robots. 

This is crazy when we look at the rest of the NFT market. I’m sure we all recall the notability of Bored Apes or Punks. At the peak of the last bull market, celebrities were endorsing them left and right. Your neighbor was taking out a loan not to miss the wave, either. Your best friend's grandma was probably using OpenSea on the subway, too. I’m mostly kidding there, but you get the idea.

Then, we witnessed the inevitable bear market after all the speculators had their rugs swept from under them. Ironically, those top collections haven’t recovered since, and neither has OpenSea. I think there are some things we can gather from the outcomes of hype and human emotion. 

In today’s NFT space, the market is just about as close to dead as you can get. When I say the market, I’m talking mainly about the insane amount of PFP collections. There’s still some decent activity around generative art itself/artists. Despite this, some outliers like Prime Machin are performing, even growing rapidly. I think it’s clear what it takes to succeed now is much different than what it took back then. 

Altcoin Buzz wrote an amazing article detailing, for the most part, why our community has stood out, as well as the technology itself, which was only made possible with Sui. Adeniyi Abiodun, Co-Founder and CPO of Mysten Labs, has also called Prime Machin “the next BAYC.” 

The neat thing about Sui is that it enables virtually every component of the blockchain to be treated as an “object.” It’s a little hard to fully understand this, especially when we look at every other blockchain operating through an account-centric model. In more relatable terms, you don’t really have the ability to color your already created NFTs, as we’ve done with the Prime Machin collection on Solana, for example. Now we’re adding even more layers of evolution with level 2 upgrades; more on that later. 

Even more so, throughout the month, just for being a Machin owner, you would have received vouchers for a boarding pass to DoubleUp’s new game, XOCIETY extraction crate access codes, Rootlets mint, 250K $LIQ to use on DoubleUp, and whitelisting for Anima Labs mint, and more. 

What’s happening here is truly a unique technology dynamic meant to make that metaverse meta come to reality, not just be a buzzword like it was thrown around back in the heyday. We combine this with some creativity and a hyper-engaged community, and the result is success in a pretty tough market. 

Come for the cool robots, stay for the tech.

This Month's Highlights

Check out the tweets below for this month's highlights.

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