Banking on Banx: The New Rev-Share NFT From One of the Oldest OG Projects on Solana

Jeff Opdyke (Jeffo)
8 min readMay 21, 2023

Maybe the last two years of rugs and scams and bullshit, over-hyped NFTs have left me jaded, but I find a certain level of comfort in OG vs. New G.

By that, I mean my sense of relative comfort swells when I see a successful, existing OG project announce that it’s soon to mint a new collection of NFTs that serve a real purpose and offer holders real utility (in this case, sustainable passive income).

Nothing against the New Gs — I like and own several of them — but too many are still falling apart within a few months of mint, meaning they were prematurely born in the first place.

But OGs?

They’ve weathered the best and worst of the NFT space over the last two years. Those that survived and continue building and innovating … those are the teams and the projects I want to associate with as an NFT investor because they’ve proven their mettle.

The OG project I’m talking about in this case is the combo team of Frakt and Pawnshop Gnomies, which Frakt snapped up about a year ago.

This month, Frakt/Gnomies will release a new collection called Banx that will merge those two forbears into a single NFT project. The aim of the new collection is threefold:

1. Unify Frakt and Gnomies under a single umbrella.

2. Simply the brand, the marketing message, and holder benefits.

3. Increase the attractiveness of the FRAKT platform without diluting the benefits.

Effectively, then, this is a relaunch of an existing project that has been around for so long that it was the first generative art collection on Solana, and the #3 collection overall. One of the oldest of Solana OGs.

Frakt is the project that launched the idea of staking NFTs to earn tokens, and it introduced fractionalized NFTs as a way to increase their liquidity and affordability.

So Banx is basically a “new and improved” Frakt.

A Banx NFT

Before we move on, let me pause and explain what Frakt is for those who might not know.

Frakt is a decentralized NFT liquidity protocol that provides peer-to-pool and peer-to-peer loans…

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Jeff Opdyke (Jeffo)

Former Wall Street Journal writer living in Prague. Crypto and investing. Editor Global Intelligence Letter. Also on Substack: jeffoalpha.substack.com/