The Russian Roundup Presents: An Introduction Into Developing An NFT Project With Xth Street Terriers 18/06/22👉19:30 UTC
In many previous articles we have had; key opinion leaders, VCs and DeFi projects however we haven’t had an NFT project join us to talk about the differences between building a crypto project and an NFT project.
Taking the attention of the general public, NFTs have emerged as an industry-driving sector however what goes on behind the scenes to bring it to life? Ideally, every single project would be successful but just like the crypto economy, the hard work comes from identifying which ones will survive the test of time.
The successes of collections like; BAYC, Clone-X & Azuki have created a blueprint for aspiring NFT projects but with only a small number achieving that status how do we compare?
Xth Street Terriers emerged to Russian DeFi (Our Founder) as an interesting project in which the art was the driving force of said interest. That spiked the idea to take it one step further and have Xth Street Terriers join us today to identify what the criteria are to develop an NFT project.
Without much delay - The Russian Roundup Presents:
Russian DeFi: Welcome To The Russian Roundup, It’s a pleasure to have our first NFT project join us.
To get started feel free to introduce yourself, the project and the story behind how Xth Street Terriers came about?
Xth Street Terriers: We’re Xth Street Terriers, a project founded by two brothers. We wanted to offer some great pixel art to those who couldn’t get involved in a 1–2 SOL mint, or those new to NFTs.
The mint story is a funny one, we think. We sold around 100 in the first 4 hours and struggled over the next 48hrs. We had so much pressure to drop the price (it was 0.069 $SOL already!) — or cut supply from 5000. We went to sleep selling just 670/5000, and expecting to make some decisions on the supply the next morning. We woke up at 7 am the next day (just 6 hours later) and we’d sold out.
Chaos (co-founder) didn’t even manage to mint — as we thought we had a lot more time!
Russian DeFi: That's interesting because quite a few NFT projects exclude access due to having such high mints and essentially marginalise smaller wallets from their community.
As NFTs tap into the idea of social currency and integration, I’d like to know the importance of community to Xth Street Terriers?
Xth Street Terriers: From mint, the community has carried us to glory. We’ve made some huge waves throughout Twitter, all thanks to our raiders and community members.
We’re committed to building a strong project with lots of longevity in the space! We have announced lots of plans on our discord, including customised staking. This staking will include levelling up your Terrier and sending them on quests to retrieve loot boxes! We have grown the team to 10+ so far and counting, and look forward to proving to the space that you can build a great project from a 0.069 SOL mint.
Russian DeFi: It’s important to always consider your developments further whilst keeping the interests of your community in mind as essentially that's what leads to a mutual feeling of contentment towards the project.
Going a bit more into detail about Xth Street Terriers, I must say initially the cool art is what drew me in as always with NFTs, but I noticed that you guys also plan to ‘Underpromise, but overdeliver’ can you go into detail about what the team means by that?
Xth Street Terriers: Thank you for the kind words! People have connected with the art and it makes us feel amazing.
With regards to the “Underpromise, overdeliver” line, we have taken inspiration from some of the best projects in the space. You can see the professionalism in a lot of the projects that choose not to buckle to pressure, and not throw up buzzwords to cause a pump in their floor price.
Build first, announce later. If you want a great community of diverse holders, don’t cause pump and dumps by bigging up announcements. We’re trying to work on some ambitious things, and want to drop them as a complete surprise!
Russian DeFi: Interestingly, the team have decided to take that angle of underpromising but overdelivering as it seems that the crypto economy especially the NFT space does things in the other order.
We briefly touched on it before regarding the importance of community and Xth Street Terriers has 1818 discord members and counting which is great but I’d love to know how does the team plan to maintain/grow that community?
Xth Street Terriers: We think the key is to build a community that is passionate about Xth and feels a connection to the art, the message and the rest of the community. The happier your community, the bigger it will grow. Our community wants to spread the word about Xth, they want to raid and they want us all to grow together.
We will get people's attention by what we build, and people will say “Wow all that for a 0.069 $SOL mint?!”
Russian DeFi: Touching on building to get people's attention there is no better talking point than the “Streetmap” (roadmap).
You guys have committed to providing additional ‘alpha’ to Xth Street Terriers, how do you guys think this incentivises holders.
Xth Street Terriers: Alpha is a key part of any project — the better your alpha, the more people check in on your discord. It’s vital to incentivise people to check back in with your discord, and a hard thing to do given everyone in the space has around 100 discord servers they are in, and everyone is so busy! We will slowly be building our alpha up, and give people access to some great alpha at a low entry.
Russian DeFi: If there is one thing the NFT ecosystem has shown is that there is nothing that brings people back than a positive experience. Creating that for the users is the challenge however once achieved, the rest happens naturally.
With the recent successes of large projects like; BAYC, Okay Bears, and Clone-X how does Xth Street Terriers plan to position itself to achieve said status?
Xth Street Terriers: I mean, keeping our goals within reach — the projects you have mentioned are great and have done some great things for NFTs.
A huge shout-out to Okay Bears, especially.
But I think it’s hard for us to be compared to these projects. What we will do is position ourselves at the top of our category. At the top of low-cost mints and in the long run somewhere near the top of our chain.
Russian DeFi: Having an objective that maintains some sort of rational optimism in my opinion could be a huge contributing factor to the success of any project, let alone an NFT one. We have seen on so many occasions as we previously touched on, that projects tend to promise the world without being able to deliver and it looks like Xth Street is more focused on achieving what's more than realistic for the team which transpires into realistic expectations for holders.
As you guys are building on Solana, the Opensea integration must be a huge opportunity for projects like Xth Street Terriers. Do you think this has led to more attention towards Solana NFTs and what was the team's experience of getting listed on Opensea?
Xth Street Terriers: Absolutely, the Opensea integration, we believe, has been a huge help to the ecosystem. I think OkayBears can really lend some of their success to being accessible to users that mainly worked within ETH. With that success has come many new eyes on Solana.
I think it’s yet to mould into a fully positive thing, as some mints are becoming overhyped, giving projects opportunities to raise ridiculous amounts of funds with a nothing roadmap — but in the long run, I can imagine everything will settle down and be a great thing for the space. Being listed on OpenSea was honestly the easiest experience. The employee who helped us get listed was the nicest and most helpful person! Couldn’t think more highly of them.
Russian DeFi: Often true utility of such partnerships can take some time for the dust to settle however as you said once it does it certainly can prove to be much more fruitful than it already is.
Going off what you said about projects raising ridiculous funds without much-planned past that stage; the unfortunate nature of the NFT space is the persistence of projects that tend to lose their steam & eventually lose their communities.
Does Xth Street have a clear plan aside from the roadmap to avoid this?
Xth Street Terriers: Of course, this is a big challenge, as we touched on earlier. But we think just growing a big team, giving holders some great benefits including utility and alpha, and trying to have them connect and be passionate about the project and message is our biggest plan. Other than that, just really putting all our energy into building a project worthy of their trust and support.
Russian DeFi: Before we conclude, I’d love to ask what the future looks like for Xth Street Terriers and its holders.
Xth Street Terriers: Under promise, overdeliver! We can’t give away too much. But we have huge ambition, huge motivation, and lots of people to prove wrong! The future is all terrier holders still diamond-fisted their XTH NFT because they love fellow terriers and the project we have all built, together.
Russian DeFi: To conclude, how would you like your project to be remembered regardless of what this emerging crypto-economy could become?
Xth Street Terriers: Just to be remembered as a community that was built, not through greed, but accessibility to everyone, and a passion for NFTs and doing the impossible.
Russian DeFi: Thank you for joining us on the Russian Roundup to give our readers an insight into the work behind the scenes as well as address some of the misconceptions within NFT projects on Solana.
We will share the links to where people can find Xth Street Terriers below👇
Xth Street Terriers: Twitter: https://twitter.com/XthStTerriers
As a reminder this is not a trading signal nor is it investment advice, it is an opinion and each trader/investor should know and understand the risks attached to trading cryptocurrencies. At no point should this be regarded as financial advice, feel free to familiarise yourself with our NFA disclaimer.
Telegram Chat: https://t.me/RussianRoundupChat
Telegram Updates Channel: https://t.me/RussianRoundup
Russian Defi: https://twitter.com/RussianDefi