{"id":6945,"date":"2023-05-09T19:13:12","date_gmt":"2023-05-09T19:13:12","guid":{"rendered":"https:\/\/nft.runfyers.com\/index.php\/2023\/05\/09\/what-is-the-sui-nft-scene-and-will-it-kill-solana\/"},"modified":"2023-05-09T19:13:12","modified_gmt":"2023-05-09T19:13:12","slug":"what-is-the-sui-nft-scene-and-will-it-kill-solana","status":"publish","type":"post","link":"https:\/\/nft.runfyers.com\/index.php\/2023\/05\/09\/what-is-the-sui-nft-scene-and-will-it-kill-solana\/","title":{"rendered":"What is the SUI NFT Scene and Will it Kill Solana?"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Smart money is flooding into the Sui NFT market. The new Layer 1 blockchain launched its mainnet last week and already has a vibrant NFT scene. What do we know about NFTs on Sui?<\/p>\n<figure id=\"attachment_103635\" aria-describedby=\"caption-attachment-103635\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Sui-Blockchain-Announces-Allocation-Plan-for-Cryptocurrency-SUI.jpg\" target=\"_blank\" rel=\"noopener\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-103635\" src=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Sui-Blockchain-Announces-Allocation-Plan-for-Cryptocurrency-SUI.jpg\" alt=\"Sui launched last week and already has a robust NFT scene\" width=\"1200\" height=\"630\" srcset=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Sui-Blockchain-Announces-Allocation-Plan-for-Cryptocurrency-SUI.jpg 1200w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Sui-Blockchain-Announces-Allocation-Plan-for-Cryptocurrency-SUI-300x158.jpg 300w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Sui-Blockchain-Announces-Allocation-Plan-for-Cryptocurrency-SUI-1024x538.jpg 1024w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Sui-Blockchain-Announces-Allocation-Plan-for-Cryptocurrency-SUI-768x403.jpg 768w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Sui-Blockchain-Announces-Allocation-Plan-for-Cryptocurrency-SUI-107x56.jpg 107w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Sui-Blockchain-Announces-Allocation-Plan-for-Cryptocurrency-SUI-150x79.jpg 150w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Sui-Blockchain-Announces-Allocation-Plan-for-Cryptocurrency-SUI-450x236.jpg 450w\" sizes=\"(max-width: 1200px) 100vw, 1200px\"\/><\/noscript><\/a><figcaption id=\"caption-attachment-103635\" class=\"wp-caption-text\">Billed as a Solana killer, does Sui have what it takes to be relevant in NFTs?<br \/>Image Credit: Boxmining<\/figcaption><\/figure>\n<h2><span id=\"What_do_we_know_about_Sui_NFTs\"><strong>What do we know about Sui NFTs?<\/strong><\/span><\/h2>\n<p>Speculators have labeled Sui as a potential \u201c<a href=\"https:\/\/nftevening.com\/sol-art-how-to-get-your-hands-on-up-and-coming-nfts-on-solana\/?swcfpc=1\" target=\"_blank\" rel=\"noopener\">Solana<\/a> killer\u201d. It has fast transactions and low fees similar to Solana, but it remains to be seen if this will be enough to establish SUI as a top blockchain for NFTs. After all, Aptos and Near both started strong but quickly lost relevancy after their initial hype wore off.<\/p>\n<p>Sui <a href=\"https:\/\/nftevening.com\/nft-non-fungible-token-guide\/?swcfpc=1\" target=\"_blank\" rel=\"noopener\">NFT<\/a> mania kicked off with the much-anticipated release of Fuddies. Fuddies, a 10,000-piece owl PFP project, had a strong ramp-up to its mint with massive influencer marketing, an allowlist campaign, and the support of Mysten Labs, the owner of Sui\u2019s biggest NFT marketplace Clutchy. The collection started with an allowlist mint for 95 SUI (about $125) before running a Dutch-auction style mint. The dutch-auction began at 300 SUI and gradually came down before minting out around 150 SUI.<\/p>\n<p>Unfortunately, the <a href=\"https:\/\/clutchy.io\/\" target=\"_blank\" rel=\"noopener\">Clutchy<\/a> marketplace disappointed in its first appearance on a big stage. The website went down and frustrated traders who looked to flip the mint for a quick profit. Eventually, however, Clutchy came back online and Fuddies reported about 605,000 SUI of volume, worth approximately $792,500.<\/p>\n<figure id=\"attachment_103636\" aria-describedby=\"caption-attachment-103636\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/B-SCnG8Z_400x400.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-103636 perfmatters-lazy\" alt=\"Fuddies are one of the first big NFT projects on Sui\" width=\"1200\" height=\"1200\" src=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/B-SCnG8Z_400x400.jpg\" srcset=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/B-SCnG8Z_400x400.jpg 400w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/B-SCnG8Z_400x400-300x300.jpg 300w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/B-SCnG8Z_400x400-150x150.jpg 150w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/B-SCnG8Z_400x400-56x56.jpg 56w\" data-sizes=\"(max-width: 1200px) 100vw, 1200px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-103636\" src=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/B-SCnG8Z_400x400.jpg\" alt=\"Fuddies are one of the first big NFT projects on Sui\" width=\"1200\" height=\"1200\" srcset=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/B-SCnG8Z_400x400.jpg 400w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/B-SCnG8Z_400x400-300x300.jpg 300w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/B-SCnG8Z_400x400-150x150.jpg 150w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/B-SCnG8Z_400x400-56x56.jpg 56w\" sizes=\"(max-width: 1200px) 100vw, 1200px\"\/><\/noscript><\/a><figcaption id=\"caption-attachment-103636\" class=\"wp-caption-text\">Fud all you want, Fuddies sold out and saw decent secondary volume after mint<br \/>Image Credit: Fuddies<\/figcaption><\/figure>\n<p>The Fuddies Twitter account went on the offensive after the dust settled. It tweeted, \u201c<span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">Fuddies just passed the entirety of <\/span><span class=\"r-18u37iz\">@0xPolygonLabs<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\"> in 24-hour sales volume and <\/span><span class=\"r-18u37iz\">@SuiNetwork<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\"> didn\u2019t even have to pay us to launch on their chain.\u201d This post earned a ton of engagement and captures the project and Sui\u2019s underdog mentality.<\/span><\/p>\n<p>Fuddies is not the only successful project on Sui, however. Suishi, A sushi-theme PFP project, also managed to mint out its entire collection.\u00a0 Since minting out, it has a lifetime volume of 21,000 SUI already. Clearly, there is a demand among NFT collectors to get early projects from new blockchains in case they ever have historical significance in the future.<\/p>\n<h2><span id=\"What_makes_Sui_different\"><strong>What makes Sui different?<\/strong><\/span><\/h2>\n<p>Sui is a proof-of-stake blockchain that runs on a modified version of the Move programming language. It has a cap of 10 billion SUI tokens that will be used for gas fees, staking, and governance. Half of the tokens are allocated to the Community Reserve, a fund for future development managed by the Sui Foundation.<\/p>\n<p class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">The majority of the remaining tokens went to people who contributed to the project. An additional 14% of the supply went to investors. Community members then had the option to purchase the SUI token when the mainnet launched last Wednesday.<\/p>\n<p>Clutchy founder and CEO Jacob \u201cDizzy Lizzy\u201d Lawless commented that his marketplace has \u201ctons of interest from influencers, investors, creators and onlookers.\u201d Part of this interest comes from Sui\u2019s ability to handle more advanced capabilities than other blockchains. Sui has sufficient scalability to allow dynamic NFTs to update in real time. For example, in-game items such as weapons or armor can improve during gameplay.<\/p>\n<p>This application might be a huge difference maker for Sui. It has already helped catch the attention of several big gaming upcoming gaming titles. Bushi, an Overwatch-style FPS, chose to launch on Sui. Similarly, <a href=\"https:\/\/nftevening.com\/the-walking-dead-voxedit-contest-offers-prizes-worth-15000-sand\/?swcfpc=1\" target=\"_blank\" rel=\"noopener\">The Walking Dead<\/a> universe will release a game on Sui in the future future. Another hotly-anticipated Web3 game, Panzerdogs, found Sui compelling enough to pivot away from Solana in favor of it.<\/p>\n<figure id=\"attachment_103637\" aria-describedby=\"caption-attachment-103637\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/FuvcA0-agAEzPjm-scaled.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-103637 size-full perfmatters-lazy\" alt=\"Bushi will soon be bringing its Samurai aesthetic to the Sui blockchain\" width=\"1200\" height=\"675\" src=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/FuvcA0-agAEzPjm-scaled.jpg\" srcset=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/FuvcA0-agAEzPjm-scaled.jpg 1200w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/FuvcA0-agAEzPjm-300x169.jpg 300w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/FuvcA0-agAEzPjm-1024x576.jpg 1024w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/FuvcA0-agAEzPjm-768x432.jpg 768w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/FuvcA0-agAEzPjm-100x56.jpg 100w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/FuvcA0-agAEzPjm-150x84.jpg 150w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/FuvcA0-agAEzPjm-450x253.jpg 450w\" data-sizes=\"(max-width: 1200px) 100vw, 1200px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-103637 size-full\" src=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/FuvcA0-agAEzPjm-scaled.jpg\" alt=\"Bushi will soon be bringing its Samurai aesthetic to the Sui blockchain\" width=\"1200\" height=\"675\" srcset=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/FuvcA0-agAEzPjm-scaled.jpg 1200w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/FuvcA0-agAEzPjm-300x169.jpg 300w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/FuvcA0-agAEzPjm-1024x576.jpg 1024w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/FuvcA0-agAEzPjm-768x432.jpg 768w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/FuvcA0-agAEzPjm-100x56.jpg 100w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/FuvcA0-agAEzPjm-150x84.jpg 150w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/FuvcA0-agAEzPjm-450x253.jpg 450w\" sizes=\"(max-width: 1200px) 100vw, 1200px\"\/><\/noscript><\/a><figcaption id=\"caption-attachment-103637\" class=\"wp-caption-text\">Bushi chose to launch on Sui partly because of its innovative usage of dynamic NFTs<br \/>Image Credit: Bushi<\/figcaption><\/figure>\n<p>When asked about Sui, pseudonymous Web3 advisor Dabblerer stated, \u201cI feel like there\u2019s still a lot of interesting experimentation going on, culminating in another wave of NFT and dapp innovation. The launches are inspired by lessons learned by early movers with some different takes.\u201d<\/p>\n<p>Major exchanges has already taken taken notice. Since launching last week, Sui has already been listed on Binance, OKX, Kucoin, and Bybit. Clearly, these Web3 companies are expecting Sui to see plenty of volume and are preparing themselves to meet that demand.<\/p>\n<p>Time will tell is Sui does manage to someday rival Ethereum and Solana for NFT supremacy. It has had some early success, however, and does seem poised to make it interesting moving into the next market cycle.<\/p>\n<p><iframe data-test-id=\"beehiiv-embed\" width=\"100%\" height=\"320\" frameborder=\"0\" scrolling=\"no\" style=\"border-radius: 4px; border: 2px solid #e5e7eb; margin: 0; background-color: transparent;\" class=\"perfmatters-lazy\" data-src=\"https:\/\/embeds.beehiiv.com\/37fed65e-f01c-4c4c-b8f1-1b71da0be0a4\"><\/iframe><noscript><iframe loading=\"lazy\" src=\"https:\/\/embeds.beehiiv.com\/37fed65e-f01c-4c4c-b8f1-1b71da0be0a4\" data-test-id=\"beehiiv-embed\" width=\"100%\" height=\"320\" frameborder=\"0\" scrolling=\"no\" style=\"border-radius: 4px; border: 2px solid #e5e7eb; margin: 0; background-color: transparent;\"><\/iframe><\/noscript><\/p>\n<div class=\"bottom-text__wrapper post-content\">\n<p>\u00a0<\/p>\n<hr\/>\n<p><em>All investment\/financial opinions expressed by NFTevening.com are not recommendations.<\/em><\/p>\n<p><em>This article is educational material.<\/em><\/p>\n<p><em>As always, make your own research prior to making any kind of investment.<\/em><\/p>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/nftevening.com\/what-is-the-sui-nft-scene-and-will-it-kill-solana\/\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Smart money is flooding into the Sui NFT market. The new Layer 1 blockchain launched its mainnet last week and already has a vibrant NFT scene. What do we know about NFTs on Sui? Billed as a Solana killer, does Sui have what it takes to be relevant in NFTs?Image Credit: Boxmining What do we [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6946,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[9],"tags":[21],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/FuvcA0-agAEzPjm-scaled.jpg","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/6945"}],"collection":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=6945"}],"version-history":[{"count":0,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/6945\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/6946"}],"wp:attachment":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=6945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=6945"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=6945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}