What are Space Toadz?

They are:

from: https://spacetoadzterra.com/

To give a little more detail, Space Toadz are a set of 6969 NFTs minted on the Terra blockchain. They were the result of a 24 hour “toadathon/hackathon project” (https://spacetoadzterra.com/)

View the collection on RandomEarth: https://randomearth.io/

Let’s talk about this mint. It was quite a bit different than your typical Terra NFT minting process!

Space Toadz Mint Plan

Start Date/Time: Tuesday, October 26th at 3:34pm EST (17:34 UTC)

Total Mints: 6,969

Mint Price: 0.1 Luna

Limit Per Wallet:

• You were allowed to mint 5 Space Toadz per wallet.

Audience: This mint was first announced to the Galactic Punk community via their discord announcements channel. It was quickly shared on twitter, and the mint was available until all 6,969 toadz were sold/minted. But if you had the website, anybody with a Terra wallet and some Luna could mint them!

The most interesting part of this launch is that this was a stealth launch. Nobody knew that these toadz were being worked on or when it was going to be released (except developers). All of a sudden, the Galactic Punk team announced that the project was live and that you could mint via their website https://spacetoadzterra.com/

Here is a screenshot of the announcement when it first went live! (I left the user making the announcement anonymous, but this message can be found in the public GP discord!

https://discord.com/channels/881200105817010258/881582847410974730/902651543050936321

Minting Results

So now that we have an idea of what this project was, let’s talk about how it actually went!

The start time was 17:34 UTC.

• When did it actually start?

• When did it end?

• How long did the sale last?

• How many people minted?

There are some key times to recognize for this stealth launch/sale.

1. First reserve_nft tx (start time)

2. Last reserve_nft tx (end time)

3. Announcement time (when the public was notified)

The reason that these 3 times are important, is because you want to get a true idea on how quickly these toads actually sold out. Everything occurred on October 26th, so let’s break it down.

Sale Start Time: 18:51:11 UTC

Sale End Time: 20:11:29 UTC

Announcement Time: 19:34:00 UTC

Sold Out Time from Start: 1 hour, 20 minutes, 18 seconds.

Sold Out Time from Announcement: 37 minutes, 29 seconds.

This is interesting. While the announcement didn’t occur until 19:34 UTC, the first reserve_nft transaction occurred at 18:51 UTC. This must mean that the team/people involved were testing/trying things out prior to the announcement.

The number that I am most interested in, is the Sold Out Time from Announcement. From the time that Galactic Punks announced the launch, it took only 37 minutes and 29 seconds to completely sell out. You needed to be in the right place at the right time to catch this mint! (if you’re wondering, I was not one of those minters. But I still love the toads I was able to pick up in the aftermarket!)

Toadz Minted over Time

Please take a look at the interactive chart here: https://velocity-app.flipsidecrypto.com/velocity/visuals/896feb37-021d-4b8f-95b7-f71bf58ad0f8/6da56d90-421a-4c05-ad43-f494adac1b38

This graph is interesting because you can see how the volume IMMEDIATELY picked up after the announcement. As I had predicted, the number that I was interested in for “sold out time” was post-announcement. And that makes sense!

Last but not least, let’s talk about how many people minted Toadz.

According to my query via Flipside’s Velocity, there were 1588 distinct addresses that minted Toadz. It is very possible that people circumvented the 5 mints per wallet rule but using different wallets, but they have to be very quick in order to do so. I like to think that we had a wide range of folks minting these fun NFTs!

Additionally, RandomEarth.io is calculating that we have approximately 2k owners in the aftermarket as well. This means that some folks sold to those who missed out on the mint!

Conclusion/Summary

We’ve gone over all of the details of the mint, now let’s summarize.

Total Minted: 6969

LUNA Collected: 694.4

Unique Mint Owners: 1588

Unique Aftermarket Owners: ~2k

Sold Out Time: 37 minutes, 29 seconds. (post-announcement)

Look forward to reading more about Space Toadz on the aftermarket. There have been some very notable sales, but I will save that for my next article.

Thanks for reading!

-Brian

brian_#3619 on Discord
https://twitter.com/brian_terra_