Sui Ecosystem Inscription MOVE Project Analysis

This week, the popularity of inscriptions and NFT projects has shown a downward trend. However, primary projects can still bring decent returns, and the "daily cash-out dog" phenomenon still exists. Among the recent "cash-out dogs", MOVE is one of the few projects with an innovative concept. Let's review the minting process of the Sui ecosystem inscription MOVE and analyze the project.

MOVE: Inscription with built-in Burn attribute

Project Overview

MOVE is the inscription project on the Sui chain, with a total issuance of 10 billion tokens, requiring 21,600 epochs to complete the minting. Each epoch produces approximately 460,000 MOVE tokens, which are evenly distributed among all participating minting addresses.

The minting of MOVE inscriptions has the following three characteristics:

1. Normal Mode and Frenzy Boost Mode:

   • Standard Mode: Each round epoch has less than 500 participating addresses, and one minute constitutes one round.
   • Berserk Acceleration Mode: When the number of participating addresses exceeds 500 in each round epoch, a new round epoch will be initiated for every 500 addresses.

2. Burn function:

   • Each minting requires a payment of 0.1 SUI in addition to the Gas consumed.
   • The payment of 0.1 SUI is locked in the minting contract.
   • The minter can choose the "Burn" inscription, returning 0.1 SUI.

3. Winning mode:

   • The first address minted in each epoch will receive an additional inscription that does not require locking 0.1 SUI.

Minting Status

The MOVE project will start minting on January 1, 2024, at 00:00. Initially, with less than 500 participating addresses in each epoch, the average allocation of MOVE tokens was higher. As the hype increased, it entered a frenzy acceleration mode, with each address allocated 925 MOVE.

When minting is complete:

• The number of user addresses has reached 46,000.
• Nearly 10,000,000 transactions
• A total of nearly 1 million SUI locked up

Project Analysis

MOVE is worth keeping an eye on for the following reasons:

1. The Burn attribute brings a "capital preservation mechanism" to reduce early dumping sentiment.
2. Gain the support of a co-founder of a well-known blockchain development company to increase official attention.
3. The market capitalization is estimated at only $830,000, with significant growth potential.

OTC trading

Currently, the official secondary market platform is not open, and transactions can only be made through over-the-counter private trading. On a certain NFT platform, the transaction price range for 925 MOVE is between 0.17 and 0.2 SUI. Other over-the-counter trading prices are also generally within this range.

Overview

MOVE brings higher expected value to holders with its unique Burn attribute. If the inscription market heats up again or Sui officially promotes it actively, MOVE may gain stronger FOMO attributes in a short period of time, offering significant growth potential.