Omnimorphs is a NFT collection of 10,000 unique tokens that were publicly minted on September 16th, 2021 at 7PM UTC at 0.08 ETH each, and sold out.
They are currently trading at a 0.13 ETH floor price on OpenSea, for a total sales volume of 2.5K ETH.
At first glance, apart from a very distinctive and polished style, the Omnimorphs look like any other NFT collectible out there: profile pictures with a lot (and I mean a lot, with up to 100 trillion possible variations according to devs!) of attributes and traits with different rarity levels, etc.
But there might be something different about the Omnimorphs that would explain why this collection is currently trending, and even managed to experience a booming sales volume yesterday, on one of the worst days across all financial markets since months.
It might well be that the team behind the project – a “group of friends from Budapest who’ve met 10 years ago at university”, namely Daniel Taylor, Huba Gaspar and Gabor Molnar – have figured out some very innovative mechanisms to ensure long-time value for their project.
First, Omnimorphs holders will have the possibility to burn a token they hold by fusing its traits into another Omnimorph they hold. Upon fusing, they will be able to manually select which traits of the burned token they want into the existing one, and they will receive an “Ominmorph Soul Shard Token” for each Omnimorph they burn. This effectively makes the Omnimorph a deflationary token, as the absolute minimum supply of Omnimorphs will be 5,000 (half of the initial 10,000).
Secondly, the team has set up an official DAO that they will “use to involve [their] community in the most important decisions regarding project directions and major implementation details”. The team also plans to set up a project treasury worth 40 ETH that will be used “to buy land in the metaverse, pay contractors, etc”.
The project currently boasts 22k+ members on its Discord server. Overall, the Omnimorphs community seems very active and engaged in the project’s development. The fusing process and the DAO voting mechanism in particular generate a lot of active discussion, with very interesting and innovative ideas being put forward by the token’s stakeholders. Unlike many projects, Omnimorphs put great emphasis on consensus building and feedback from their community.
If you want to have a glance at what the future of the NFT space may look like, Omnimorphis is definitely the kind of project you want to watch closely as it rolls out its roadmap.
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