Stargaze - Part 3 Data, Collections, Technology, and Threats

Data Points and Trades

Data in addition to the competition, threats, tokenomics, and more is important to making a decision both for investing in Stargaze and or buying NFTs.

At the time of writing this according to Map of Zones Stargaze in the last 30 days had $895,260 USD of inflow and $1,114,300 outflow. This could indicate that over the last 30 days there has been more pressure to exit the platform for other investment opportunities. This in itself is not a deciding factor as some previous months have had net inflows and users may be looking to shift some of those monies around.

In the last 30 days Stargaze marketplace has done around 300K USD worth of sales which was 13,826,733 STARS. This comes out to about 10K USD a day and 460,891 STARS. This compares to their average since the inception of the marketplace of 389,160 STARS per day worth about $12,442 a day.

Another strong thing to consider is primary sales. Are new collections coming to Stargaze and selling out or is the demand solely on old collections. Over the last 30 days there has been 258,906 STARS worth of new mints which is about $5,480 USD. This compares to the average since the inception of the marketplace of 298,538 STARS a day and $22,865 USD worth.

The last statistics would sound worse without more context. The overall NFT volumes have significantly declined as an industry. According to data pulled from Nonfungible Tracker NFT volumes are down about 58% from this time last year. This would mean that while NFT marketplace volumes have been down over 58% from a year ago Stargaze is actually only down around 20% from its historical average.

The biggest collections of all time in order on Stargaze are:

• Bad Kids
• Stargaze Punks
• The Space Ape Society
• Andromaverse
• Stargaze Citizens
• Space Skellies
• Forgotten Punks
• Hero
• IBC Frens
• Genesis Owlies

Please note this is by collections some of these may differ for example Stargaze Punks, Andromaverse, and Forgotten Punks is part of the same team.

Forward Looking and Strong Community

Stargaze has a lot of ambitious plans. They all center around bringing content creators and their communities closer. A perfect example is creating tools to easily allow these NFT projects to create DAOs, tokens, airdrops, and governance.

Allowing these individual communities to thrive will help the projects complete their plans, improving their communities, which could help improve their prices. Improved prices and marketplace volumes lead to more burns and trade fees, creating a win, win, win scenario.

Stargaze has also continued to take community feedback very seriously. For example, Curious Cosmonaut Research and others asked if they could improve their visibility in all projects. This was acknowledged and some suggestions have been included in the marketplace.

Examples are some unwanted NFT drops happened. In turn, we and others in the community suggested a burn option and more dynamic creation fees. They confirmed the NFT burn button was coming, and shortly after implemented it; and even had discussions about raising the creation fee.

Stargaze started with a vision of being a social network and certainly has plans to build around that vision with things like DAO tools, creator networks, social tokens, and more. The fact they take community feedback so seriously is crucial, given they can redefine the NFT experience entirely and work towards being a social network.

Technology Overview

Bridges were already mentioned for bringing in outside NFTs. Those same bridges can be used in time to take Cosmos NFTs out to other ecosystems if demand increases. Bridging these NFTs out of Cosmos also brings in new opportunities for STARS burns where Stargaze charges a “toll” for this even if the fee is small; this adds to the multiple paths of STARS burn pressures.

Stargaze being in the Cosmos ecosystem is critical not only for the reasons already mentioned but because of the growing ecosystem and use of Tendermint. Not only is Cosmos large, but there are other large chains such as Binance, Polygon, crypto.com, and more built off the Tendermint technology. When you consider all of these chains, the Tendermint technology has either the highest or second highest number of developers of any blockchain technology, according to Electric Capital reports.

Stargaze alone can likely process 10,000 TPs already just for their chain without using a second chain or L2s. This compares to Ethereum’s 12-15 TPS, Avalanches 4,500 TPS, and Solana; while they have a theoretical 50,000 TPS they have struggled with much less with many network outages in the last year.

The most vulnerable time for transactions on an NFT project is during a mint. Generally, a large mint is 10,000. Stargaze can theoretically handle transactions. The challenge arises when many bots go after the mints and the ecosystem is spread out among many projects in an ecosystem such as Solana.

Not to mention Stargaze can be strategic with their mints. For example, projects can space out their mint times during the day so they do not overlap. There are also other methods such as breaking out mint times even for a collection. While all theoretical this is to prove challenges can more easily be overcome with an app-specific chain like Stargaze compared to one such as Solana/Ethereum.

This is often done where 25% might be done through a whitelist first before the public launch.  Some projects like IBC Frens might even do their collections into separate launches. As you can see there are many opportunities to avoid network outages both in the current and long term for Stargaze.

Competition

Stargaze has multiple competitors today, some with really unique value propositions.

Secret Network is one of the most unique technologies in the industry. Allowing for privacy based NFTs and trading through Stashh.IO. These two have a lot of opportunities for synergy as well. Stashh does very low volumes in comparison to Stargaze today.

Evmos is a new EVM based chain. This is going to feel and look like a similar experience to the Ethereum communities which is the biggest NFT community today but with less fees. This chain has a huge potential to compete with Stargaze but also have NFTs moved to their chain to be traded.

OmniFlix has been creating tools and support for NFTs being minted and sold. OmniFlix is likely going after a lot more of the same market that Stargaze would like to acquire.

Territori has been launching multiple projects and focusing on multichain strategies and bootstrapped it with large airdrops.

But the biggest competitors are outside of the Cosmos ecosystem and primarily OpenSea. OpenSea alone, even in this bear market, had 430 Million in volume in the last 30 days at the time of writing this, according to DaapRadar. This can be seen by some projects on Stargaze expanding on to Polygon now.

Threats

• High inflation could cause a lot of selling pressure on STARS.
• Stargaze is new, and if it does not attract lots of high-quality NFT projects, especially from outside ecosystems, it could lose its steam.
• There could be a lack of interest in NFTs in the bear market as it continues. This bear market could also last a long time.
• The open source nature of Stargaze and Cosmos could lead to more well-known influencers creating their own ecosystem or selling their NFTs outside of Stargaze.
• Artists receiving STARS for their work could put sell pressure on STARS by selling their STARS after the NFT launch.
• A shift of interest towards privacy-based NFTs and business models such as the Secret Network could happen.
• Platforms like Evmos being a more desirable place for Ethereum NFTs.
• Projects could migrate to the highest volume areas in NFTs like Polygon/Ethereum especially if bear market low volumes continue.
• Consumers may demand to pay in other tokens besides STARS which could hurt the price of STARS according to the velocity of money theory.

Conclusion

Stargaze is redefining the NFT experience from the ground up with brand new technology. All while doing it in an ecosystem where they relatively have a first mover advantage and bridging to popular ecosystems. Competition is growing, but overall, they have a great platform for users and a project worth exploring for investors, NFT traders, and artists.

At Curious Cosmonaut Research we plan to explore and cover Stargaze regularly including specific NFT projects on the website. If you would like to write with us or are an NFT project wanting to be listed please follow this process and send us a message!

If you enjoyed this and want to send any tokens or NFTs here is our wallet overview, and our Stargaze address is stars1yxa2tceefxacdsdsdg5u4ekd5lu0l3u0w2fsqy.