Jelly eSports: The Greatest DeRug in the history of Solana NFTs
Jelly eSports team has been one of the biggest builders in the space. One may change definition of “Builder” to suit one’s narrative, and I assure you, in any of the versions, Jelly eSports would be highly ranked.
Writing on a project with a double digit floor would somewhat make no difference to many people. Many would consider this as a missed chance and concentrate on new mints. But, this is one project, where I can see a massive upside potential as far as secondary play is concerned.
What is Jelly esports:
Many people confuse Jelly eSports with a single gaming or a metaverse project. No, it’s not.
E-sports or electronic sports is a global industry which includes playing games online and making money. E-sports includes organized, multiplayer video game competitions, particularly between professional players, individually or as teams. For example, online poker, blackjack, car racing and even Gambling come under the purview of e-Sports.
Jelly eSports project aims to bridge the gap between web3 and esports industry and create its own eSports team in the process. In future, it aims to sponsor e-Sports talents across the world and create a big web3 brand.
But, that’s not it. While Jelly team has been concentrating on creating this impeccable brand, they also have other things in their arsenal which would be envied by other projects. They have SOLsuite, a suite of web3 products which is seeing heavy demand from other NFT projects. (Covered later)
History of Jelly and Derug:
It all starts with Jelly Babies, a project minted way back in 2021 with a mint price of 0.1 SOL and 5555 Supply. The project was unable to mint out and gradually the creator abandoned the project with the holders left hanging. 3333 jelly babies were minted and holders suffered for a long time.
The Current owner @CarlosOMFGTv stepped up later to take over the project. The overhauling process would later be known as one of the most successful de-rugs in SOL-NFT history. FYI, Carlos has also been instrumental in de-rugging many more projects.
Post @CarlosOMFGTv took over, and built a team around, the main concern was providing better art and utilities to holders. Thus Rascals and Gamerooms were conceptualized and team moved ahead.
Game rooms & Overdrive:
Team worked step by step so that holders derive most value from the process. Jelly babies NFTs, 3333 in number were made stakeable emitting $jelly tokens (1 $jelly tokens per day). Then came Gameroom NFTs,6666 in number, which was mintable through $jelly tokens for Jelly Baby holders.
Other whitelist candidates were free to mint with 1.5 $SOL. 1 Jelly baby owner was entitled to mint 2 Gameroom NFTs.(total 6666 in number). Thus, then and there value was created for holders.
Additionally, Jelly Babies floor bounced from sub-zero $SOL to15 $SOL with Gameroom NFT mint anticipation. And the best part? Holders got everything for free using emitted $jelly.
Gamerooms NFTs were meant to act as a $jelly token multiplier in future, but right now they had to be burnt to produce Rascals. Jelly Rascals was the first true PFP from the Jelly eSports brand, and was expected to provide a bunch of utilities holders in Jelly eSports gaming ecosystem.
1 Jelly Baby + 2 GameRooms produced a Rascal. The earlier genesis collection jelly babies were put to rest. This process was known as Overdrive. Since, jelly babies were 3333 in number. Max Rascals produced from Overdrive process could only be 3333.
Many did not want to burn their Gamerooms and waned to use them as staking multiplier later. Hence, rest of the Jelly Rascals had to be minted using another process.
But, burning of Game rooms created a scarcity, and Gameroom floor stands around 20 SOL today (with added utility of course). Supply of Gamerooms stands ~1400 as we read this.
Rascals & Alterego:
The Rascal NFTs produced by burning Jelly Babies and Gamerooms started 10 $jelly tokens per day which was 10 times than that produced by Jelly babies. Rascals were in huge demand since $jelly token itself was sought a sought after token, Team created effective demand around the same through SOLSuites (covered later). Jelly token value hovered around 0.02 SOL and provided a passive income to the stakers.
Many rascals remained to be minted since all Gamerooms were not burnt along with Jelly babies. The new minting process required 500 $jelly per rascal. and created steady $jelly demand for months. $jelly was scarce till the mint got over. And post all rascals i.e. 6666 got minted, Each rascal started producing 5 $jelly tokens per day. Of course Staking Gamerooms along with Rascals act as a $jelly token multiplier.
The whole mint process was branded as Alter ego.
During the alter ego, floor of rascals NFTs corrected since 3333 out 6666 rascals were unstakeable and gave a chance of outsiders to join the Jelly ecosystem. Team actually wanted to ensure the same.
Utilities & SolSuite:
Team worked effortlessly and did not sit between the mints. Team really wanted to build something for Solana ecosystem in the form of Jelly Labs. JellyLabs was instrumental in creating a suite of products meant which could be used by any Solana NFT project. This was known as SolSuite and currently, is subscribed by multiple NFT projects.
Solsuite has multiple products such as a staking platform (Stake House), a raffle system (Raffle Room) , Auctioning Platform (Auction House) ,Coin flip platform (Coin Flip), Collecting Loot (Loot drop) etc. Additionally, “Jelly labs” also provides consulting services to other NFT projects. It is also coming up with a NFT Launchpad in near future.
Currently, NFT projects utilizing SOLsuite pay around 20 $SOL or same worth in $jelly token per month. This has created a steady cash flow for the project. The proceeds are used to stabilise $jelly price and will be used give discounts to users in the upcoming Casino (covered later).
Future Roadmap:
One important point worth mentioning is, Jelly team is more inclined towards building real world utilities around $jelly token while Rascals / Gameroom NFTs only act as an enabler. Its $jelly token which gets scarcer with every event, and all utilities are built around for $jelly adoption. Simply put, One cannot simply be bullish on rascals without being bullish on the $jelly usage and adoption in web3 eSports arena.
Some of the upcoming events for Jelly eSports-
1-Jelly Dawgs Mint: Jelly community has been closed knit community till now and has not marketed well. Team wanted to invite more NFT enthusiasts to jelly ecosystem to witness what is getting built within the ecosystem.
Jelly Dawgs is supposed to address the same. With supply of 10K and free mint, yes , its free, Dawgs can give exposure to outsiders into Jelly Ecosystem. Dawgs won’t generate $Jelly but many of the Dawg holders would definitely want to get Rascal or Gameroom exposure later once they realize the benefits associated.
2- Reflections: As we know, Gamerooms act as a Jelly multiplier. But, Gamerooms will also get a share of revenue of the ecosystem, thus magnifying the utility. The rev share is branded as “Reflections”. Rev Share will be huge thing going forward.
Reflection includes:
i)Revenue share on mint sales
ii)Revenue share of secondary market royalties
iii) Revenue share of profits from JellyFlip
3- Gambulls: This is the most important upcoming product of Jelly eSPorts. Gambulls is supposed to be a web 3 Crypto Casino and would be a very big experiment. Think of Rollbit or Stake.com but on web3. Online Casinos generate millions per week and pay millions to influencers to play and broadcast their gambling sessions on twitch or YouTube. Gambulls is supposed to the same for Jelly eSports. This is where $jelly token will become mainstream. Users will have an option to gamble using $jelly tokens at a discounted price.
4-Jelly Drop: This is an online “mystery box”-style game where users can choose a desired mystery box for the chance to win prizes including NFTs, WL tokens, Solana, $JELLY as well as real life products. One has to spin the wheel. For spinning the wheel, there will be a cost payable in $jelly. Rascals get one free spin per day. This use case will create new demand for $jelly token.
5- Gen 2: This is due next year and in progress. The gen2 collection for Jelly Rascals would be released once $jelly tokens are in heavy demand post Gambulls & Jelly Drops rollout. Team will take utmost care not to dilute any of the previous collections.
Conclusion:
$jelly token value and adoption derives value of Rascals and Gameroom NFTs. With a big Casino i.e. Gambulls incoming, $jelly adoption will become much higher. Post AlterEgo i.e. Rascal mint, the token has taken a big hit, but rascals are still maintaining a double digit floor with <1% listings. This ascertains only one thing. $jelly price is only an icing on the top and whole project is driven by @CarlosOMGFTv’s charisma and a strong community.
Rascals still remain as the entry point to the jelly ecosystem, earning and emitting $jelly via staking. Team aims to make this token so mainstream that holders get huge passive income. But, the way team is building utilities around $jelly, there will always be shortage for $jelly tokens.
Gambulls casino and Jelly eSports brand has the potential to be big when metaverse truly arrives in this space. The Web3 casino can easily be integrated with multiple metaverses and generate huge revenue from a vast user base.
Team is also planning to partner with famous youtube influencer to promote Gambulls. This will be a huge thing to watch.
Personally, I am bullish on the jelly ecosystem and the community. Not to brag, the community and the diamond handed holders give bluechip vibes. Most of us have been unaware of Jelly eSports because no Solana NFT Influencer is seen promoting Jelly Rascals or Gamerooms. This in my opinion is even more bullish for holders. And when the train starts leaving the station around Gambulls rollout event, it would be too late for most of the public to get in. Hence #NFA #DYOR and make your decision.