Original - Odaily
Author - Asher
Editor - Qin Xiaofeng
Red Box: Saga: Bust Of The Year 2023
This morning, major communities in the Solana ecosystem were flooded with news of the skyrocketing price of “red boxes.” What is the origin of this magical red box and why it is so popular?
Saga: Bust Of The Year 2023, commonly known as the Red Box in the community, is a FreeMint project released by 3rd_land at 3 am, with a total of 6969 items. The project has its origins as an award for Solana Saga at the 2023 MKBHD Smartphone Awards. 3rd_land took advantage of this event to release an NFT related to this theme: Saga: Bust Of The Year 2023.
(Source:Twitter）
At the beginning of the Mint stage, the popularity of Red Box was average. What really made the popularity of Red Box continue to increase was that Solana co-founder Toly forwarded and commented on a piece of content related to the project. This move directly ignited the popularity of Red Box, and the floor price soared. From FreeMint in the primary market to the highest price of more than 13 SOL in the secondary market, the increase was astonishing.
(Source:magiceden）
The reasons why Red Box has experienced such an astonishing increase in just a few hours are as follows:
Due to the extremely high popularity of the Solana ecosystem, the community benchmarks it against the blue box of the Bitcoin ecosystem. The picture below shows the secondary market situation of the “Blue Box”. The current floor price is as high as 0.566 BTC (approximately $24,680);
In the first few hours, there were less than 2,000 red boxes tradable in the secondary market. The selling pressure was small, coupled with the strong FOMO sentiment in the community, the price rose parabolically.
(Source:BRC-420 secondary market）
Official Twitter:https://twitter.com/3rd_land
Secondary market:https://magiceden.io/marketplace/ saga_bust_of_the_year_ 2023
Mobile phone case: mkbhd SPL20
Due to the popularity of the red box, the price of mkbhd SPL20, a project related to the Solana Saga mobile phone concept, rose rapidly this morning, with the floor price rising from a low of less than 0.04 SOL to above 0.1 SOL, with a maximum of 0.15 SOL.
mkbhd SPL20, also known as mobile phone case by community members, has a total supply of 20,000 pieces, a single Mint costs 0.036 SOL, and a single wallet can have unlimited Mint.
The project was initiated by Marques Brownlee, a digital blogger with more than 600 W followers on Twitter. After awarding Solana Saga the award, he said in one of his comments turn Solana Saga into an NFT in some way. Soon, a developer seized this hot spot and deployed a Meme project mkbhd SPL20 on SLP20.
(Photo: Comment by Marques Brownlee)
In addition, Magiceden’s CDO (Chief Data Officer) also commented on this project. The two factors were superimposed, and mkbhd SPL20 became very popular instantly. For a period of time, it was impossible to buy it at the floor price. The market sentiment was extremely FOMO. Yesterday, the floor price reached a maximum of around 0.12 SOL, and today it once touched 0.15 SOL.
(Picture: Magiceden CDO mentions mkbhd)
As can be seen from the K line, the price of mkbhd SPL20 has experienced two rapid increases. One was when it was released, and the other was the rise driven by the red box this morning. What needs to be noted about this project is that mkbhd SPL20 only rose twice due to the popularity, and there is no real project party. Investors need to pay attention to its risks.
(Source:magiceden）
Secondary market:https://magiceden.io/marketplace/mkbhd_SP L2 0
Black box: SNB
Due to the popularity of the Red Box project and the continued rise in SOL currency prices, major communities quickly focused on other hot projects in the SOL ecosystem. It just so happened that at this point in time, the “black box” NFT project called SNB began to gain attention in some communities.
Although this project has nothing to do with Solana Saga, it has been implicated in the concept of “box”, making “black box” popular in major communities. Those who missed the red box in the morning went crazy to buy the black box. Its floor price once rose from 1 SOL to 3 SOL, with the highest increase of more than 200% in 24 hours. After the FOMO, the current price is 1.37 SOL.
(Source:magiceden）
Official Twitter:https://twitter.com/SolanaNBS
Secondary market:https://magiceden.io/marketplace/solananbs
Those are the items in the market today related to the Solana Saga phone concept. Odaily reminds that the prices of related projects fluctuate greatly, so be sure to participate with caution.
