NFT Rearview Mirror Episode 1: Elements by AssetDash
Introduction
In this series, we look into the rearview mirror and check out already launched NFT projects with a strong community, unique offers for utility, and those that manage to keep their floor price at profitable levels.
Solana is one of the few blockchains with a solid NFT community even after the gold rush in 2021. Nevertheless, tons of NFT projects have been hyped, launched, minted, and forgotten since then.
Most NFT projects don’t even live beyond their minting phase only to die at a floor price below the initial cost to mint a piece of the collection.
This episode is dedicated to AssetDash and their NFT collection Elements. Did they deliver what they have promised? Let's step back and find out.
Short detour: What is WNS!?
As the blockchain that has one of the broadest selections of dApps and a steady influx of new builders, it's no wonder that the most innovative projects are launched on Solana.
Back in January 2024 Jupiter dev Ming Ng and the Ovols team released the WNS (Wen New Standard) alongside the launch of WEN Coin. WNS is built on top of Solana’s Token Extension program and allows traditional NFT functionality using native Solana programs rather than third-party extensions.
To make it short, WNS is great because it makes launching projects dirt cheap, is built for future compatibility, and offers high scalability.
AssetDash: The platform behind Elements NFT
Back in February 2024 Solana’s best & one of the longest-living investment trackers, Asset Dash, integrated WNS into its ecosystem and released Elements as the first-ever PFP NFT collection using the WNS standard.
AssetDash was created by Matias Dorta and Jorge Perez in 2021 as a one-stop multi-asset tracking platform. It offers users a lot of great features and hasn’t stopped evolving since 2021, the key features of the platform are:
- Comprehensive Portfolio Tracking: AssetDash offers investment tracking across various asset classes and blockchains. Users can track cryptocurrencies, NFTs, stocks, DeFi investments, and even private equity in a single platform. The platform supports over 100 different blockchains, exchanges, brokerages, and banks.
- Trading: AssetDash makes it possible to create non-custodial wallets in-app and to use them for trading on its platform. Their transaction fees match Jupiter’s, will never exceed 1$, and users earn gold & rewards with every trade using their mobile app.
- Rewards Program: AssetDash has a unique rewards program, which is described as "the first rewards program for investors", Users can earn AssetDash Coins and gold (both in-app rewards currency) which can be spent on various digital assets including NFTs, whitelists, gift cards, and more.
Users can sign up to AseetDash and link their wallets to the platform to start tracking assets and trading in no time. When I first signed up with my Phantom wallet, AssetDash showed me all my NFTs with their respective floor prices and activity.
The platform makes it super easy to find lost NFTs and hidden bangers that are just waiting to be listed and on top of that, you can easily trade pretty much every token that you could on other platforms.
If this has sparked your interest, you can sign up using this link and use my referral code X9MK-ZRQJ to instantly earn 500 coins.
The Elements NFT collection
The release of Elements NFTs was in February 2024 and to be eligible to get one, you’d have to be either an eternal staker on AssetDash, or you would have to be a holder of a Vanta NFT.
Vanta NFT #7012
Vanta holders were able to burn their NFT to get airdropped an Element NFT, this method ensures scarcity of Vanta NFTs and links both projects to each other. Additionally, AssetDash launched incentive campaigns for users to win a piece of the collection.
Elements NFT #6182
The Elements NFT collection consists of 9,992 unique profile picture-style NFTs, offering both visual appeal and exclusive benefits to holders. The total number of NFTs in the collection directly correlates to the number of Vanta NFTs, the more Vanta is burned, the more Elements exist.
Last but not least: Utility
Speaking of cool features for Elements holders, minting and holding an Element NFT grants users the highest membership tier on AssetDash.
The Vanta tier level provides users with benefits like rewards, early access to deals, and supercharged bonuses for trading on AssetDash. The more Elements you hold, the more perks you get, awesome right?
Looking at AssetDash & Elements today
At the time of writing this article, there are 190 of 9992 Elements listed on tensor. The whole collection is held by 3549 wallets, making it a great example of real-world use cases of NFTs.
The project launched in February 2024 and almost ten months later, the biggest part of the collection is still held by individual wallets. This gives a strong impression that most people who minted or bought an AssetDash Elements NFT hold them in their wallets to earn perks on AssetDash.
The floor price is hovering around .9 SOL in October 2024. With 2015 Vanta NFTs left (and only 8% listed) it doesn’t look like there will be much leeway below .8 SOL and strong upwards potential for the floor price as scarcity in Vanta NFTs steadily rises and only a small number of Elements are listed.
Conclusion
The launch of the Elements NFT collection has been presented as a milestone for bot AssetDash and the WNS standard. Looking back at the projects around ten months later, I gotta that AssetDash delivers.
They have created one of the few living NFT collections on Solana that have an awesome community, great artwork, and bring growing monetary value to its users all at once.
I’m pretty much based on Elements NFTs because since I got into it three days ago, I have made above .2 SOL only by looking through my NFTs and by saving on fees for trading.
The Elements NFT community is a great place to land if you're just getting into web3 or returning after taking a break during the last bear market. Lot's of great insights & laughs are shared throughout Telegram and on X spaces.
I am just getting back into all things web3 and discovering both AssetDash and Elements gives me certainty that Solana has grown a lot since 2021.
I am more than stoked to see which projects we'll discover in the next weeks. Don’t hesitate to reach out if you like my content and are building on Solana.
You can easily reach me on X and hit me up for collaborations.
