Animoca Brands, the blockchain gaming venture, and the digital asset firm Pandora have partnered to launch a new non-fungible token collection on Magic Eden, the multi-chain non-fungible token marketplace. The joint NFT project could catalyze the next NFT super cycle if adopted.
Dune404 NFT Collection Launches On Base
In a June 13 blog post, Animoca Brand and Pandora, through their new social media handle, Dune404, confirmed the launch of their new non-fungible token collection on Magic Eden. The new NFT collection, Dune404, is believed to have a solution to catalyze the next NFT market bull run.
Dune404 will be delayed to 2 hours from prior to original mint schedule due to technical issues.
👇Update ✨
– 5:00AM EST June 13th to 7:00AM EST June 13thTimeline has been updated in this image & ME websitehttps://t.co/3ujqytCh53 pic.twitter.com/x1gSXGnVM0
— DUNE404 (@Dune_404) June 13, 2024
Magic Eden is a multi-chain NFT market platform supporting non-fungible tokens on Solana, Ethereum, Polygon, and Bitcoin. Magic Eden is the largest and best-known NFT marketplace on the Solana network, where it was initially launched. The platform enables users to create, buy, sell, and collect NFTs.
On the other hand, Animoca Brands is a global venture leader in gamification and blockchain, with an extensive portfolio of over 400 investments in Web3 projects. The venture company leverages gamification, blockchain, and artificial intelligence technologies to develop and publish a broad portfolio of mobile products.
Pandora Labs is the digital asset incubation studio behind the ERC-404, an experimental, mixed ERC20 / ERC721 implementation with native liquidity and fractionalization for semi-fungible tokens. Earlier this year, the team launched a new non-fungible token that duped Pandora, which took the crypto and NFT community by storm. The NFT collection featured 10,000 Replicants hosted on Base.
What is the Dune404 NFT Collection?
Dune404 is a non-fungible token collection featuring a limited edition of 10,000 NFTs hosted on Base, an Ethereum Layer Two network. Dune is the first ERC-404-based non-fungible token collection backed by Animoca Brands and the Pandora ERC-404 and the first to launch on Magic Eden.
The new Dune404 NFT collection launched on June 13, 2024, on four minting phases, including 1000 during the whitelist, 500 NFTs in Olivex Geneses airdrop and the remaining at the public mint. The new ERC-404 protocol significantly boosts the NFT market as it enables NFTs to be broken into reversible, fungible tokens.
The new ERC- 404s could solve the NFT liquidity problem, affecting many blue-chip non-fungible token collections, including the Bored Ape Yacht Club and Mutant Ape Yacht Club. ERC- 404s enable a lower entry to communities since there’s no need to hold an entire NFT. More participants mean more liquidity and volume trades through the collection, which tends to have a positive impact. This is why the Pandora NFT collection exploded in Feb 2024.
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