Analysis of the Sui Ecosystem Inscription MOVE Project: Innovative Concepts and Future Potential

This week, the popularity of inscriptions and NFT projects has generally declined, but first-tier projects can still bring considerable returns. Among the recently outstanding projects, MOVE stands out with its innovative concept. Let's review the MOVE minting process and analyze its characteristics.

MOVE: Inscription with built-in Burn attribute

Project Overview

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

The MOVE casting mechanism has three notable characteristics:

1. Normal mode and Frenzy acceleration mode: Initially, when the number of participating addresses is less than 500, it is in normal mode, with one round per minute. When the number of participating addresses exceeds 500, it enters Frenzy acceleration mode, starting a new round for every additional 500 addresses, significantly shortening the time for each round.

2. Burn function: In addition to consuming Gas for minting, a payment of 0.1 SUI is required, which is locked in the contract. Users can choose the "Burn" inscription to instantly return 0.1 SUI.

3. Winning Mode: The first minting address in each round will receive an additional free inscription.

Minting Status

MOVE will start minting on January 1, 2024, at 00:00. Initially, the number of participants is low, with a single address allocation of over 10,000 pieces. As the excitement rises, it enters a frenzy acceleration mode, with each address allocation stabilizing at 925 pieces.

At the end of the minting, there were 46,000 participating addresses, nearly 10 million transactions, and about 1 million SUI locked. The project team stated that the secondary market will soon open.

Project Analysis

Reasons to pay attention to MOVE:

1. The Burn attribute provides a "capital preservation mechanism" to reduce early sell-off pressure.

2. Gain support from the co-founder of Mysten Labs to increase official attention.

3. The market cap is estimated at only $830,000, with significant growth potential.

Transaction Status

The official secondary market has not yet opened, and transactions are mainly conducted through over-the-counter private deals. On a certain NFT platform, the transaction price range for 925 MOVE is between 0.17-0.2 SUI.

Summary

MOVE provides holders with higher expected value due to its unique Burn attribute. If the inscription market becomes active again or Sui officials actively promote it, MOVE may trigger a stronger FOMO effect, with significant growth potential.