Crypto’s Latest Trend: Exchanging Influencers as Trading Cards
The latest frenzy gripping the crypto world revolves around the exchange of trading cards featuring prominent figures in the cryptocurrency space, courtesy of Fantasy.top.
Although the platform is currently on testnet, it is set to launch on the mainnet imminently. From Bitclout to FriendTech, it’s evident that Crypto Twitter thrives on speculating about each other.
The latest sensation takes the form of trading cards introduced by Fantasy.top, featuring nearly 250 crypto individuals available for trading on the platform. Users can collect these cards, assemble them into a team, and participate in competitions. The project’s X account reports that the latest competition attracted 23,800 participants.
Trading of these cards commenced on Fantasy.top in mid-February, gaining momentum recently following endorsements from influential crypto personalities such as crypto trader Ansem. Currently limited to testnet, users are not transacting with actual funds. However, the project is gearing up for its mainnet launch to gauge whether it can sustain the same level of interest.
Fantasy.top’s founder, known by the pseudonym Travis Bickle, noted that their growth has been explosive since the Ansem tweet. While they have observed Fantasy’s virality from the beginning, the current scale is unprecedented. Travis expressed anticipation for hitting full speed with the mainnet launch but is thrilled to witness such widespread interest already.
Although these figures reflect testnet activity, certain individuals have witnessed significant trading volumes for their cards. Ansem, for instance, recorded 439 testnet ether in trading volume, earning him rewards in testnet ether. FriendTech also experienced success by implementing a comparable model with high fees, incentivizing influencers to utilize and endorse the app.
Upon joining the platform, which currently operates on invite code-only access, users receive three testnet ether on the Blast Sepolia testnet, which they can utilize for purchasing cards. Additionally, new users are granted five starting cards, available in four categories: common, rare, epic, and legendary. To date, more than 1 million cards have been minted.
Fantasy.top provides social analytics data for individuals featured on each trading card, along with insights into their interactions on X. This feature aims to assist in valuing individuals based on their social media presence.
Built on Blast, a Layer 2 network on Ethereum launched on mainnet in February, Fantasy.top aims to offer a native-yield model for ether and stablecoins, providing 4% interest for the former and 5% for the latter. Blast was developed by Tieshun Roquerre, the founder of NFT marketplace Blur.
Building on Previous Social Finance Platforms
BitClout was among the pioneers in this domain, offering a similar experience to X, allowing users to speculate on the value of profiles. However, its launch was marred by controversy and missing features. BitClout seems to have been replaced or rebranded as Diamond.
FriendTech followed suit, allowing users to bet on individuals’ profiles, with the added feature of purchasing someone’s “key” for access to their private group chat. Despite a decline in activity, the project hints at a forthcoming next phase.
Featured Image: Freepik
