Last updated: Sep 21, 2023
Smyths is a uniquely conceived NFT (Non-Fungible Token) collection based on the Solana blockchain. Developed by Blocksmith Labs, the project consists of 4,444 digital images of smiths. The Smyths universe is deeply ingrained in a lore set in the Pantheon, which is divided into two factions: Aesir and Vanir. The project offers a dynamic experience, where Smyths can switch between these factions through an "Ascension path," offering a novel engagement layer to collectors.
Smyths made its debut in March 2022 with a mint price of 2 SOL, approximately $200 based on Solana prices during the minting date. Spearheaded by the DeGods team—a recognized name in the Solana NFT space—the project instantly generated significant buzz. A limited collection of 4,444 tokens led to the creation of a whitelist, initially open only to select invitees from the Discord community. Subsequently, Smyths launched "Mercury," a whitelisting tool granting early access to prospective minters.
Smyths features a collection of exactly 4,444 tokens. These are held across 2,336 unique wallets, accounting for a roughly 53% unique ownership. As of July 2022, the project increased its royalties fee to 4.4%, impacting all future trades.
There are currently three different kinds of Smyths NFTs available in the ecosystem – original or OG, Aesir, and Vanir. OG Smyths consist of the original artwork created in March of 2022, and are considered to be the legacy version. Aesir Smyths are known for their brighter aesthetic, while Vanir Smyths are characterized by their more detailed and sinister artwork.
In order for a Smyth to change its art style, its holder needs to go through a process called “Ascencion”. This process is not reversible, and the initial choice of allegiance is made for the owner. However, there is an option to switch allegiances between the different types of Smyths at a later time.
It is important to note that all three types of Smyths are the same NFT (non-fungible token), meaning that the underlying digital asset is the same regardless of its aesthetic or allegiance. The main difference between the different types of Smyths is the artwork and the chosen allegiance.
NFTs from the collection are made up of some of ten different attributes – armor, background, belt, eyes, face, gauntlet, headgear, misc, skin, and weapon. These include more than 140 Smyths traits.
The Smyths NFT collection was created by Blocksmith Labs and was cofounded by pseudonymous partners Cryptonent and Harmy, while the first is a well-known member of the NFT community thanks to their relations to the DeGods NFT project where they act as lead developer, the latter is known for being the creator of Solfolio – a Solana NFT portfolio tool. Currently the two act as co-CEOs of Smyths. The team also includes COO Gee2Kay and CTO wozgun. The Smyths artist – The NootGod is also known for being the artist behind D.Y.O.R. and PocketBeast – which they also are an owner of.
Smyths boasts an active community with nearly 32,000 Discord members and a Twitter following exceeding 60,000.
The project's partnerships are particularly noteworthy, thanks to its Mercury whitelisting tool, which has onboarded over 300 projects and accrued a user base of over 100,000.
Smyths owners can enjoy various benefits, such as staking their NFTs in exchange for the platform’s native token FORGE, which can be used to participate in raffles besides acting as the native ecosystem currency. Furthermore, thanks to the whitelisting tool Mercury, Smyths holders can participate in various giveaways, and thanks to Bifrost, another Smyths initiative – a Solana NFT launchpad providing support against bots among other features, collectors can enjoy early access to a vast list of upcoming NFT collections.
By upgrading their Smyths NFT through the “Ascencion path” holders can enjoy increased FORGE yield from staking and access to lifetime Mercury V3 premium features, among other benefits.
Those interested in changing their Pantheon from Aesir to Vanir or vice versa can do so through the official webpage of the project, however, this comes at a dynamic cost since the aim of the Smyths team is to maintain balance in the number of NFTs on each side of the two factions.
Collectors can also derive value from Smyths Intellectual Property rights. According to the official licensing agreement, available publicly on the project’s webpage, Smyths owners have a “non-exclusive, worldwide, royalty-free, license to use, reproduce, display, modify and create derivative works of the Sale NFTs for personal, non-commercial use”.
While Smyths doesn't follow a traditional roadmap, the focus remains on constant innovation, particularly in Solana's NFT ecosystem.
FORGE is the project’s utility token. Based on the Solana blockchain it has a maximum supply of 44,000,000 and its current supply is 9,999,992. As the project’s native asset, the token is implemented in the use of all tools and apps within the ecosystem. All FORGE spent through the platform or its ecosystem projects gets added back to its treasury and is further used to incentivize ecosystem growth and community engagement.
Staked OG Smyths earn their holders 10 FORGE per day, while staked ascended Smyths earn 12 FORGE per day
Smyths NFTs can be purchased on various NFT marketplaces, such as OpenSea and Magic Eden. Lately, the Smyths floor price has been fluctuating around 27-28 SOL. This means that the cheapest Smyths NFT costs around $500, based on Solana market prices at the time of writing this review. Besides Smyth # 2486, listed for sale for 1,250 SOL, the most expensive Smyths include #721 and #3728 both listed for sale for around 300 SOL each.
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