What is Sewer Pass NFT Collection? And Why is it Trending?
Sewer Pass is a recently-launched NFT collection by major Web3 initiative Yuga Labs. The NFTs act as the key to playing a skill-based game called Dookey Dash.
Sewer Passes are tiered according to the BAYC/MAYC and BAKC combination used during the claim, according to the project’s description. Furthermore, the Sewer Pass collection consists of 26.5K items.
More About Sewer Pass NFT Collection
The Sewer Passes were broken up into four tiers, based on whether the holder of a BAYC or MAYC NFT also hold a Bored Ape Kennel Club NFT in their wallet.
Holders of a Bored Ape Yacht Club (BAYC) or Mutant Ape Yacht Club (MAYC) NFT were eligible to claim a free Sewer Pass. Both BAYC and MAYC are two blue-chip NFT collections by Yuga Labs.
Those holding a Sewer Pass (whether minted or purchased on the secondary marketplace) were able to play Dookey Dash from Jan. 19 to Feb. 8. Scores accumulated from gameplay will be part of a broader narrative experience called “Chapter 1” at a later date.
Yuga Labs’ entrance into the industry was virtually explosive — launching and acquiring two of the biggest NFT projects, Bored Ape Yacht Club (BAYC) and CryptoPunks, both of which have become wildly successful.
Its influence goes far beyond, reaching ties with some of the major players in the crypto and NFT space, enabling them to create a fortune for themselves by selling all the NFTs from their associated collections.
Sewer Passes Come with a Certain Condition
Yuga Labs has pulled a masterstroke against rival marketplaces with its latest NFT collection after blacklisting wallets that belong to secondary marketplaces LooksRare and NFTX. This is a bid to ensure creators get more royalties.
The smart contract that governs the Sewer Pass also included specific conditions determining how they can be used. In short, there’s a code snippet that restricts NFT sales to only marketplaces that enforce creator fees.
Consequently, with marketplaces LooksRare and X2Y2 preferring to make creator fees optional, they have been blacklisted onchain from the new NFT collection.
A spokesperson for Yuga Labs ratified the company’s creator-first ethos. ‘We’ve always been a creative-first company, and we believe that creator royalties must be protected,’ said the Yuga Labs spokesperson. ‘The Sewer Pass free claim will only be traded on platforms respecting creator royalties.’
This move from Yuga Labs should come as no surprise after co-founder Wylie Aronow has been very vocal in safeguarding creators’ royalties in the past. In fact, last November he said the company was delving into using smart contracts with allowlists to differentiate between wallets used for transfers.
Sewer Pass NFT Collection Market Performance
The Sewer Pass NFT collection has been trending recently, climbing to the top of NFT lists across some major marketplaces.
According to data by CoinGecko, the collection has a 24 hour sales volume of 482.46 ETH (or more than $800,000). Furthermore, the floor price for a Sewer Pass NFT is currently 0.995 ETH ($1,668).
As of today, there is a total of 26485 NFTs minted, held by 13170 unique owners, and has a total market cap of $44,182,398.52.
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