A brief discussion on 0N1 Force
As one of the earliest anime themed side-profile collection, 0N1 Force took the NFT market by storm when it officially launched in Aug 2021. The project sold out within minutes and the team became nearly $2M richer right after their successful launch. They were also one of the pioneers in experimenting with soulbound tokens; called Frames, which are armor that is attached to the original 0N1 PFP. It also doubles as a security solution called “Recall System”, which essentially allows holders to recall the Frames back to their own wallet even after being hacked. It also allow holders to enjoy a new art style for their PFPs without any risk of supply dilution, and allow holders to attend token-gated events without risking their original PFP NFTs.
However, due to the lack of communication and the lack of accountability from the founding team, the project floor prices started on a downtrend as the community lost trust in the team. There were also rumours of the mismanagement of funds and the general lack of innovation after the project gained traction and the team made significant revenue from secondary sales.
In February, things changed, after a group of former Binance and YGG execs (Old Fashion Research) bought the project from the founding team. Now with the new team, the project is likely looking to rebuild trust with the community and come up with new strategies to revitalize the 0N1 brand. I will personally be putting 0N1 Force on my watchlist and continue to monitor the team’s execution as they progress forward. This is not the first time a notable collection got acquired by a new team and revived, as the case of Pudgy Penguins. With a unique art style and strong community, the project likely has a shot at rebuilding its branding and garnering attention from collectors. It will be an uphill battle, but with the injections of fresh funds from Old Fashion Research, they likely have the runway to prove themselves and rebuild a roadmap focused on storytelling and expanding their IP.