Flippening Otters is the first collection of NFTs, which details the history of Ethereum and all the phases it has gone through, ending in the much anticipated “Flippening”.
Ethereum enthusiasts coined the term “The Flippening”, referring to a potential future event where the market capitalization of Ethereum surpasses that of Bitcoin. The market capitalization of each cryptocurrency is calculated as:
Circulating Supply of Cryptocurrency * Price of Cryptocurrency
Although the price of Ethereum and the price of Bitcoin fluctuate significantly throughout the years, both cryptocurrencies have experienced significant growth and gained a lot of attention recently. While the first-ever cryptocurrency, Bitcoin, is still the leading cryptocurrency in terms of market capitalization, Ethereum gained ground in a lot of different aspects, such as serving as a platform for programmable smart contracts, non-fungible tokens (NFTs), and decentralized finance applications (DeFi). According to the data from Coinmarketcap, on June 13th of 2017, the market capitalization of Ethereum was 85% of that of Bitcoins, the closest point to the so-called Flippening.
The collection of Flippening Otters consists of 10,000 unique items, also known as NFTs, each one representing a point in time in the history of Ethereum. It depicts all the official timeline of Ethereum along with key events in the history of Ethereum all the way until today, using the publicly available block numbers.
This is the first project that makes an attempt to bridge all the phases that the popular cryptocurrency has gone through, making it an incredibly fun storytelling NFT Collection. The Otters are separated into 7 Species, excluding the Genesis Otter and The Great Flippening Otter.
“There are a lot of NFT launches every day. But they all focus on the design and art angle. We are a group of enthusiasts of Ethereum and its technical capabilities. We strongly believe that Ethereum is why the entire crypto ecosystem is thriving today. Therefore we want to be pioneers by combining the history of Ethereum with some cool NFTs.” said Raul, co-founder of the Flippening Otters project.
The NFT collection starts with the Genesis Otter, which came out of nowhere on July 30th, 2015. This alludes to block #0 in Ethereum, otherwise known as the Genesis block. This is followed by the “Wise Otters” who were early investors and early believers of the cryptocurrency. Flippening Otters have mentioned that some of them represent real investors, but haven’t disclosed the names yet.
The next species to appear is the “Settler Otters”, referring to Ethereum’s second phase “Homestead” implemented on block number 1150000. This was the first production release of Ethereum, as since Genesis the network was in beta and was allowed only for testing and scripting.
It then follows through different historic moments of Ethereum: the DAO fork, the Byzantium, Constantinople, and Istanbul upgrades, the DeFi summer in 2020 and the Ethereum 2.0. The complete timeline of these species can be found on the website.
The collection was originally planned to consist of 2200 generated Flippening Otters, but due to popular demand, the project stated that they increased this to 10,000 total items and will not mint any more Flippening Otters after this. They will mint 9,999 Flippening Otters first, and the very special last otter to be minted will be “The Great Flippening Otter”, which will be auto-minted on the exact block that the Flippening happens. It will be gifted to a random wallet that owns any of the other Flippening Otters.