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Deeper Look into the Berachain’s Leading NFT Collections
Berachain's upcoming mainnet launch has spurred significant excitement on the NFT market, which experienced a significant surge in floor prices over the past weeks. Explore the diverse and rapidly evolving NFT eco within the Berachain network in our article.
Berachain: Why the Hype?
Berachain is an emerging L1 blockchain built on the Cosmos SDK and designed to be fully compatible with the Ethereum Virtual Machine (EVM). What sets Berachain apart is its Proof-of-Liquidity (PoL) consensus mechanism, which allows users to stake assets like Ethereum (ETH) or stablecoins to secure the network. Validators are rewarded based on the liquidity they bring to the network, which in turn enhances both network security and liquidity. This represents a unique approach compared to how the validation works in traditional Proof-of-Stake (PoS) networks.
Three Native Crypto Assets
Berachain employs a three-token model comprising:
Such a of tokens is intended to balance network incentives between security, governance, and liquidity provision.
Liquidity Bootstrapping
Berachain focuses on liquidity bootstrapping. The PoL mechanism encourages users to lock liquidity in return for governance rights and rewards, bringing more motivation into decentralized governance.
Active Community
Since the launch of the Artio testnet in January 2024, Berachain has attracted over 200 dapps and processed millions of transactions. Its user-friendly developer experience, EVM compatibility, and cross-chain capabilities make it highly attractive for builders.
NFT Collections
Initially started as an NFT collection called Bong Bears, Berachain has kept its grassroots origin, creating a culture where NFTs are integral to this blockchain eco. Particularly, Berachain’s PoL consensus mechanism enhances the utility of NFTs within the eco: NFTs offer exclusive access to various DeFi functionalities, rewards, and governance roles, making them more than just digital art.
Official Berachain NFT Collections
The first Berachain’s official NFT collection, Bong Bears, pioneered the rebasing NFT collections, of which six have been released so far. The concept of rebasing came to the NFT space from DeFi. It refers to a dynamic adjustment of the supply or attributes of NFTs based on certain conditions or external factors.
The final rebase of Bong Bears is expected to coincide with Berachain’s mainnet launch. While not officially confirmed, there is speculation that holders of these official NFTs could be among the ones, or those with the most chances, to receive airdrop from Berachain.
Whether this rumor will come true or not, current holders have already benefited from various perks, including allowlist spots and discounted or free mints for other NFT projects within the eco.
Eco NFTs
Berachain carries a number of eco NFT collections that can be broken down into several categories: Community, Gaming, DeFi, Branding, Social, Profile Picture (PFP), and Meme. Here are utilities for some of the collections leading in the Community and Gaming groups:
With its unique consensus algorithm, several native crypto assets, and broader utility for NFTs, Berachain is one of the most promising chain launches this year. The speculation surrounding a potential airdrop ahead of the mainnet is further fueling interest. And while we have covered a multitude of NFTs building on Berachain, this list is non-exhaustive and not a complete depiction of the rich and growing eco.
If you build on Berachain and are searching for a crypto VC firm to support you on your journey, feel free to contact DWF Ventures.