0N1 Force | Friday, May 12 2023
In 2022, a collective of crypto industry veterans including Wei Zhou (https://twitter.com/thedaoofwei) acquired 0N1 Force.
Wei Zhou is the former CFO of Binance, and recently acquired coin.ph, a Philippines based crypto exchange.
The acquisition of 0N1 was made by a firm that Zhou is a part of called Old Fashioned Research (OFR). The OFR team is comprised of other industry veterans included other former top executives at Binance and successful VC fund Fenbushi Capital.
Before 0N1 Force was acquired, it had seen massive speculation in the NFT bull market, with many 6-figure sales.
Floor price dropped dramatically as the market crashed, leaving 0N1 holder down significantly.
Since the acquisition by OFR, the team has been building quietly, recently bringing in Horizen Labs Ventures to advise.
Horizen Labs Ventures is the top web3 advisory firm in the space. They are the team that built Apecoin and its staking ecosystem, and are also currently working directly with DeLabs, the team behind DeGods, y00ts, and DUST.
I’ve been told by reliable sources that 0N1 & HLV have been working hard behind the scenes and will likely be announcing large scale IP plays in the coming months in the comics/manga target vertical.
0N1 Force was the first anime style pfp project, a style that has become extremely popular in the space with projects like Azuki.
The business well-capitalized by OFR, meaning there is a lot of run-way. There is little concern of the team running out of money or needing to do another raise. Additionally, the collection has done >75,000 ETH in secondary trade volume with a 5% royalty attached, which equates to nearly $7M in royalty revenue at currently ETH prices.
This high royalty is concerning in the long-term as a 5% royalty does leech a lot of liquidity out of the market, however, we feel that short-term upside is still likely considering all else.
There are only 7,777 0N1 Force NFTs in comparison to the popularized 10,000 max supply.
Currently, the floor price sits at 0.77 ETH.
We feel that there is a 2x-3x+ opportunity with the IP announcements coming in the next few months.