Dogeparty: What has happened since relaunch in fall 2021 (Part 2)
Dogeparty is a meta-layer on top of the Dogecoin (DOGE) network for non-fungible token (NFT). It became operational in August 2014, went silent in May 2016 and was relaunched in August 2021. This article deals with the period after the relaunch. Please refer to the first part that covers the first active period ranging from 08/2014 to 05/2016.
Dogeparty uses a very similar framework as Counterparty for Bitcoin. However, transaction confirmation times on Dogeparty are typically 10x faster than traditional Bitcoin transactions (1–10 minutes) and only cost 1 DOGE.
Given the huge momentum in the NFT market, a group of Dogeparty and Counterparty OGs and devs decided to relaunch Dogeparty. They include Jeremy Johnson (“J-Dog”), Ryan Baptiste (“XCER”), and Javier Varona, who are also the founding members of the Dogeparty foundation. Check out their bio at https://dogeparty.net/foundation/.
In August 2021, Dogeparty servers were brought back to life. To resurrect Dogeparty and help ensure its future survival, the Foundation offered further Dogeparty utility tokens (XDP).
While you do not need XDP for creating a (numerical) NFT (check out this YT video), XDP is necessary for creating a named NFT. It is also very convenient to use Dogeparty’s decentralized exchange (DEX) and for Dogeparty-internal governance (e.g., DAO-like voting).
Hence, the foundation initiated exchanging Dogecoin for XDP by a process called “Proof-of-Bern”. In 1,153 different transactions, 3,019,958 Doge were exchanged for 399,483 XDP. 464 different Dogeparty addresses obtained XDP, paying an average price of 7.56 Doge per XDP between 01.10.2021 and 04.12.2021 (there was a premium being paid that declined towards the end of the bern period). The largest DOGE to XDP conversion was for 219k Doge which demonstrates a significant level of conviction.
90% of the funds will be used to by the foundation to fund development, while the remainder was transferred to the founders to reimburse for relaunch development / expenses (XCER conferred his share on the other two founders).
As in the first period, there was a large spike in activity once the relaunch was made public. The first user-generated Dogeparty NFTs (after some testing in August / September 2021) were minted on September 29, 2021 and the big blast of new minting happened in October after more people became aware of the relaunch.
It is interesting to contrast Dogeparty transactions to total Dogecoin transactions given that a protocol’s valuation is inherently driven by its usage. In October 2021, there were more than 45,372 Dogeparty transactions which represented around 5.2% of all transactions on the Dogecoin protocol. New issuances drive a large portion of that share given that you need multiple transactions to mint, attach artwork, and/or lock total supply for a newly minted Dogeparty NFT. Activity went down in the later months but was still around 1% in January 2022.
Of these newly minted NFTS, 1,169 were numerical (that process only costs 1 Doge), while 15,220 were named NFTS (that process costs 1 Doge and 0.5 XDP). These XDP were burned, thus decreasing the total supply of XDP by 7,610. Compared to the newly created XDP after relaunch, this corresponds to 1.9% of the new XDP supply.
The Rare Doge Directory is a directory of Dogeparty NFTs which have been inspected by the Rare Doge Scientists for rareness and dankness. Only the best of the best Rare Doges get included in the Rare Doge Directory. The directory consists of several series, each containing 50 different NFTs. So far, Series 1 Card 1 has not yet been revealed. One of the most popular cards are COUCHDOGE, DOGEKAMOTO, or DOGETHEPUNK.
The Rare Reject Directory is a directory of Dogeparty NFTs which were submitted for inclusion in the Rare Doge Directory but which were judged as not rare or dank enough for the Rare Doge Directory.
SPACEDOGES was created by the reboot Dogeparty founders to reward community members. Our mission is to create good, make peoples live better, and happier while promoting Dogeparty (and Counterparty) protocols and technology.
DogePunks is a digital mashup of Doges and the CryptoPunks project to produce DogePunks. Each DogePunk is a 1/1 NFT living on the Dogecoin Blockchain via Dogeparty.
The Great NPCSET is a an NFT project comprised of collectible NFTs of NPCs (Non-Player Characters).
Doge Pixels is a collection of Pixelated Doges, half of them will be created by the Dogeparty community.
Dixel is a collection of 1,000 uniquely generated Dogeparty Pixels which are inspired by the CryptoPunks.
TRIPPYTOKENS is a project featuring psychedelic Dogeparty NFTs.
Members of the Secret Doge KVLT (holders of one of the 100 KVLT cards) automatically receive new NFT submissions to the KVLT directory. Individual NFTs in this project are limited to a supply between 100 to 125 and every member is sent a card before it is submitted for inclusion in the directory.
Dogeparty is a long-term project that is not only run by three very experienced NFT developers (see above) but is also supported by five Dogeparty community directors via the Dogeparty Foundation: https://dogeparty.net/foundation, which are elected on a yearly basis. The eight Dogeparty Foundation members meet regularly and discuss ongoing development and community building tasks.
Dogeparty wallets: At the moment, there is a light browser-based wallet available at https://wallet.dogeparty.net. A more powerful desktop wallet (more suitable for active artists) is available at https://dogeparty.net/wallets/.
You find many helpful how-to videos ranging from wallet creation, buying Dogeparty NFTs via a vending machine (so called dispensers) using your DOGE, or creating your own Dogeparty NFT at https://dp.university/curriculum. You find my own YT channel at Doggfather_Crew — YouTube.
The Dogemint team put together a very comprehensive Dogeparty guide, covering all relevant topics for serious collectors and artists.
Most community action takes place on Telegram: the main Dogeparty chat group is https://t.me/DogepartyXDP, while there are various other groups covering particular series (say Rare Reject Directory NFTs or individual projects). There are regular giveaways and you find very helpful project members in case you have further questions.
There are several Reddit communities about Dogeparty, the largest is r/xdp.
You love the artwork but do not want to dive too much into the protocol-specific details? An increasing number of Dogeparty assets are also available via OpenSea EmblemVault. For instance, if you look for JOLLYROGER, type in https://opensea.io/collection/emblem-vault?search[query]=jollyroger. Check out this medium blog about EmblemVault.
I am a big Dogeparty believer with a bag so heavy that I can hardly move my laptop. None of the information is financial advice and I highly suggest you to do your own research!