March 8, 2023
The world is dealing with big problems such as the environment getting destroyed, the climate changing, and diseases spreading everywhere. We need new ideas and reasons to help people now and in the future. The creator of OnChain Monkey, saw an opportunity to use crypto to encourage doing good and create a new giving economy.
In November 2020, the creator's newborn daughter was rushed to the emergency room due to jaundice. As he held his daughter and listened to her cry, he realized how fragile and precious life is. This experience helped him realize that we need to change how we think of things for the benefit of society and future generations, and that it needs to happen soon.
The creator of OCM Danny Yang believes that crypto can be used for doing good. The rise of COVID helped him to see the trouble society is in. Exponential problems have become more evident and he wanted to create an NFT collection as a platform to address them.
The creator chose a monkey as the focus of the collection because people find them accessible and they have a certain energy. This collection is completely on-chain, meaning that the practical component of the NFT is not able to be removed from the blockchain.
The creator also wanted to pay tribute to the Bored Ape Yacht Club (BAYC) by modeling the number of attributes and general distribution after BAYC. To keep the smart contract's size small, the creator had to compile it constantly and check the size. The creator also encountered several bugs, such as the metadata and image not loading on OpenSea and the contract failing to deploy on ethereum mainnet.
Within three weeks of its launch, OCM held its first charity auction, with all the proceeds donated to the Giga Connect project, an initiative supported by UNICEF, ITU, the Elon Musk Foundation, Dubai Cares, and Ericsson, which aims to provide internet connection to schools globally.
OCM engaged in a trial initiative to see if the OCM community could generate funds for a good cause. "It is expected that the next cause will be Projecting Change." "Projecting Change is a movement to project visuals onto the Glasgow building during the UN Climate Conference COP26 in Nov. 2021." "The purpose of this movement is to motivate people to tackle the climate emergency."
It was the first to make an entire 10K profile picture collection available on-chain with SVG image files and metadata.OCM conducted a trial to see if their community could raise money for a good cause, and they plan to continue doing so in the future, with Projecting Change being the next one.
OnChain Monkey recently revealed Bitcoin-based counterparts via the Ordinals protocol, leading to a surge in NFT trading volume and almost tripling the prices of their Ethereum NFTs. The Ordinals protocol allows for NFTs to be minted on the Bitcoin blockchain using smart contracts, providing added security and transparency for NFT holders.
The Bitcoin blockchain's distributed ledger ensures that NFTs cannot be copied or changed, providing further protection for those who possess them. Furthermore, the combination of intelligent contracts and the Bitcoin blockchain provides additional assurance.
With the potential for NFTs to be minted on the Bitcoin blockchain now unlocked, there has been a surge in NFT trading volume and high-value sales on NFT marketplace. The Onchainmonkey NFT has taken advantage of the increasing popularity of NFTs, and with Metagood planning to construct a link between Ethereum and Bitcoin that will enable NFT holders to move between the two blockchain networks, the potential for NFTs on the Bitcoin blockchain appears to be very promising.
OnChain Monkey has plans to support charitable causes in the future by using the proceeds from the sales of their NFTs to fund various projects. The company takes pride in the fact that their Genesis collection was developed entirely on the Ethereum blockchain, hence the name "on-chain.
The project has a DAO Treasury, which is funded by a 10% creator fee on the sale of each NFT. This fee is split 50/50 between the DAO Treasury and Metagood, the parent company that created OCM. The project currently features two collections, with a total population of 30,000 NFTs. However, there's a twist: 10,000 Genesis NFTs were gifted at creation, 10,000 Desserts NFTs were airdropped to Genesis NFT holders, and 10,000 onchainmonkey Karma NFTs were made available for minting at the end of June 2022.