Terra (LUNA) quickly established itself as one of crypto's premier blockchains with its ever-expanding and unique ecosystem of decentralized finance (DeFi) protocols. Now, Terra NFTs are growing into a formidable alternative to the dominant Ethereum-based projects, especially in the P2E (play-to-earn) space due to Terra's low transaction fees.
This article highlights three of the most important Terra NFT news items each week. This week: LunaBulls announce Toxic Tesseracts, Rekt Wolf partners with Messier Art for TPOP badges, and Galactic Punk staking leads to higher floor prices.
LunaBulls Release Teaser Video for Toxic Tesseracts
On Apr. 4, LunaBulls released a video showcasing its newest NFT development, Toxic Tesseracts.
Toxic Tesseracts are akin to Mutant Ape Yacht Club's (MAYC) M1, M2, and Mega Mutant Serums. In the video, one of the original blue Tesseracts, used to convert LunaBull NFTs from 2D to 3D a couple of months ago, changes to green and starts dripping slime. One of the 3D LunaBulls walks over and touches it. It immediately shocks the LunaBull and distorts his hands and arms.
The LunaBull, presumably now toxic, looks up to see the city start to turn green. Toxic LunaBulls flashes across the screen, and the video ends.
The "Toxic Tesseract Non-Fungenomics" are not yet released, which means the total number of Toxic Tesseracts, how to acquire them, and how they can be used is not yet known.
Since the announcement, the LunaBulls floor price has risen to 10 LUNA, or about $1,150.
Rekt Wolf and Messier Art Launch First-Ever Terra's Proof of Participation (TPOP) NFT Badges
On Apr. 4, Messier Art, one of Terra's leading NFT marketplaces, announced a collaboration with Rekt Wolf NFT to create the first-ever Terra's Proof of Participation (TPOP) NFT badges.
The NFT badges, or TPOPs, are meant to commemorate participation in milestone events within the Terra ecosystem. The first TPOP, Rekt Wolf Genesis, is limited to 100 total NFTs.
Additionally, Rekt Wolf followed up a tweet from Mar. 17 showing a magical mushroom in a jar with a new "Trippy Wolves" preview, presumably another metamorphosis-type NFT drop where holders can use the magical mushroom to turn their Rekt Wolf into its trippy version.
Galactic Punks Moon After Staking Locks Up Over 60 Percent of the Supply
On Mar. 23, Galactic Punks launched staking for holders, which entitles them to certain rewards from the Galactic DAO. Since then, over 7,000 of 10,921 total Galactic Punk NFTs have been staked.
With only 511 total Galactic Punk NFTs on sale via Random Earth, one of Terra's most liquid NFT marketplaces, the supply shock forced the floor price higher. It now sits at 59 LUNA, or $7,000. This is nearly a 100 percent increase month-over-month.
Galactic Punks are the best-selling, first-ever pfp NFT project on Terra. As the ecosystem grows, the project will likely continue to grow, akin to CryptoPunks on Ethereum.
For more Terra NFT news, see last week's article, "NFTerra: Orbital Command's Terra dApp Expo 2022 Showcases Top NFT and DeFi Projects", here.