Dokyo, an NFT collection on the Avalanche blockchain, announced its presence over the past week, rising 117% in trading volume according to the latest data from CryptoSlam. Over 5,000 tokens from the set traded hands, with a near equal number of buyers and sellers. The relatively unknown collection led the blockchain’s NFT boom during the same period, capturing the attention of crypto media.
According to an X post from the team, Dokyo is a “think tank powered by the collective” that licenses ideas, empowers the community, builds products, and shares rewards. While initially the team was focused on selling energy drinks out of vending machines (hence the animation on the Dokyo website), it appears they’ve expanded their horizons and are focusing on disrupting boring businesses.
According to a recent podcast with Brando, the founder of Dokyo, one of the initial projects will be disrupting the instant noodle industry, which in his own words is pretty boring. Regardless of the initial projects, there’s no doubt Dokyo has captured the attention of holders and the Avalanche NFT community, particularly with its workshops.
The art references the project’s Japanese inspiration. The humanoid figures are rendered in anime-style, with various masks and slick clothes. According to a Medium post, the art came from Murasaki Creative Studio, a mixed team of Japanese creators and an international business team. Ava Labs backs both Murasaki and Dokyo.
In the Medium post, Dokyo spells out its mission, which is to bring together the visionaries, creators and doers, and its vision, which is to believe in the power of doing it together, rather than the traditional one-man approach. The name itself has two meanings in Japanese: “courage” and “community.”
People are calling it the first Avalanche NFT blue-chip, which is big for the ecosystem and the project too.
Avalanche NFT Trading Volume Spikes, Projects Running
While Ethereum, Bitcoin, and Solana tend to dominate attention in the world of NFTs, the upcoming bull market may open doors for other blockchains and ecosystems to rise. One of those may be Avalanche, which over the past seven days saw a rise of 78% in total NFT trading volume and buyers outnumbering sellers by 2,000.
Though Dokyo was the main catalyst, there were other movers on the chain, including:
- Mambonauts: Trading volume rise of 111%
- Chad Doge Supers: 25.5%
- Myna Tokenized Item: 2362%
- SleeFi Bed: 194.5%
- Smol Joes Season 2: 1352%
- Avalanche Hills Muscle Cars: 35928%
One of the perks about trading NFTs on Avalanche is that there are low gas fees. This is in contrast to Ethereum, where gas fees can range from $10 to much higher. Time will tell if the ecosystem’s momentum continues, but there’s no doubt that these are good signs, especially considering the actual bull hasn’t completely started yet.
Rarity Sniper will look out for any developments in the story and update this article if needed.