Base Chain: Emerging Ground for Potential Digital Art Icons

Coinbase's Base chain, a rising Ethereum layer-2 scaling solution, presents exciting opportunities for NFT growth. This analysis highlights three promising BASE NFT projects: Based Fellas, Tiny Based Frogs, and OnChainDinos. These projects share similarities with Crypto Punks, such as 10k PFP collections (Based Fellas), limited supply (Tiny Based Frogs), and strong community support (OnChainDinos). With Coinbase's upcoming integration for its massive user base, these BASE NFT projects could potentially experience significant growth, becoming the next Crypto Punks in the 2024 bull market.

Base Chain: A Potential Breeding Ground for the Next Crypto Punks

In the ever-evolving realm of digital assets, the quest to uncover the next groundbreaking NFT project is a constant pursuit for investors seeking significant returns. In this regard, Coinbase's newly launched Ethereum layer-2 scaling solution, Base chain, has emerged as a promising platform. With its low transaction fees, seamless integration with the Coinbase app, and the upcoming launch of a Base NFT marketplace, Base chain is poised to become a fertile ground for NFT projects with the potential to rival the iconic Crypto Punks.

Identifying the Contenders

99Bitcoins analysts have carefully scrutinized the Base chain ecosystem and identified three NFT projects that exhibit characteristics reminiscent of Crypto Punks, the groundbreaking NFT collection that revolutionized the digital art market. These projects possess inherent features that could propel them to the forefront of the NFT space in 2024.

Base NFT Project #3: Based Fellas

Based Fellas, the pioneering 10k "PFP" (profile picture) NFT project on Base chain, shares striking similarities with CryptoPunks on Ethereum and NodeMonkes on Ordinals. Its first-mover advantage in the 10k PFP arena has garnered significant recognition, with Base chain creator Jesse Pollack himself donning a Based Fella as his social media avatar, effectively bestowing upon the project the tacit endorsement of the most influential figure within the Base ecosystem.

Based Fellas boasts a robust wallet distribution of 33%, indicating that 10k NFTs are held by approximately 3,300 distinct individuals. This figure is steadily rising, contributing to the project's growing traction. The current floor price for a Based Fella NFT stands at 0.125 ETH.

The Based Fellas team has not rested on its laurels, unveiling a second NFT collection named "Homes" and simultaneously announcing plans to launch a FELLA token. This token will integrate diverse staking rewards through both "Homes" and "Fellas," incentivizing holders to accumulate FELLA.

The team's ambitious roadmap includes the integration of game dApps, allowing users to stake NFTs from other projects within the "Homes" ecosystem to earn FELLA. With such a dedicated and innovative team at the helm, analysts anticipate substantial growth potential for the Based Fellas ecosystem, particularly considering the substantial upside potential of over 250x to reach the market capitalization currently commanded by Crypto Punks.

Base NFT Project #2: Tiny Based Frogs

Another prominent "PFP" NFT collection on Base chain is Tiny Based Frogs. Unlike most 10k collections, Tiny Based Frogs has a limited supply of only 999 NFTs, resulting in a much smaller and exclusive community. This scarcity has piqued significant interest, as owning a Tiny Based Frog NFT could become a highly coveted status symbol on social media platforms, potentially driving up both demand and value as the bull market gains momentum. The current floor price for a Tiny Based Frog NFT is 0.6 ETH.

Intriguingly, Jesse Pollack has been selective in his public endorsements of NFT projects on Base. However, his vocal support for Tiny Based Frogs serves as a positive indicator for the project's prospects.

Base NFT Project #1: OnChainDinos

OnChainDinos, created by the renowned developer "Apex_Ether," has emerged as a force within the Base ecosystem. Apex_Ether, a highly respected community builder, has also crafted an ERC404 protocol token (RAWR) alongside this NFT collection, establishing the foundation for an intriguing GambleFi DinoPoker project.

The secret to OnChainDinos' rapid community expansion lies in its unwavering commitment to collaboration. As a result, the project has cultivated a vibrant social media following. The current floor price for an OnChainDinos NFT is 0.075 ETH.

The Coinbase Advantage: A Gateway for Retail Investors

Perhaps the most bullish factor for Base NFT projects is Coinbase's impending move to open up its massive userbase, comprising over 110 million accounts and $70 billion in assets, to Base chain through its Coinbase smart wallet. This strategic move will allow retail investors with limited on-chain experience to seamlessly purchase and trade Base tokens and NFTs with minimal friction, representing a significant catalyst for the onboarding of fresh capital into the emerging 2024 bull run. The projects highlighted in this analysis are poised to benefit immensely from this influx of new investors.

Conclusion

The Base chain ecosystem is a fertile ground for the incubation of groundbreaking NFT projects. Based Fellas, Tiny Based Frogs, and OnChainDinos have demonstrated the potential to emulate the success of Crypto Punks and capture the attention of investors worldwide. With Coinbase's upcoming integration of Base chain into its platform, these projects are well-positioned to experience explosive growth and emerge as the next generation of NFT pioneers. Investors who diligently monitor the Base chain ecosystem stand to reap substantial rewards in the months and years to come.