Introduction to the SEND Project: SEND will be a community token that supports Solana’s Blink ecosystem. Will this relationship replicate the success of Farcaster and $DEGEN? This speculation has sparked FOMO within the community, resulting in the rapid depletion of 100,000 NFTs from the SEND project.
(Background:
Explaining Solana’s latest Blinks feature: Is it really a killer application as imagined by the community?
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Table of Contents:
SEND Operation Gains Attention
I haven’t even started researching, how did you come up with all these examples?
100,000 NFTs, FOMO Wiped Out
From the community, to the community
Two weeks ago, Solana’s Blink became popular. It allows for the direct embedding of on-chain functionality on Twitter, enabling various actions like Swap, Mint, and Donate with just one click on a tweet. However, at that time, Blink only showcased the “what” it can do, leaving the “how” for the community and developers to explore.
Therefore, it is necessary for us to pay attention to the new projects surrounding Blink.
With lightning speed, just a few days after Blink was released, an account named SEND (@thesendcoin) seemed to be fully prepared, showcasing over 50 use cases that can be achieved using Blink with detailed, vivid, and authentic descriptions.
Coincidentally, Blink was officially released on the 25th, and the official SEND account began hinting on the 24th, stating, “This week, Solana has big moves, don’t blink, send it.”
They might as well have written on their face that they already knew about Blink.
Another notable point is that Toly, the founder of Solana, currently has a pinned tweet from the SEND team, presenting another 100 use cases for Blinks. This public promotion, combined with SEND’s visionary posts, makes it hard not to associate it with official support.
You may not be aware, but a week ago, SEND directly introduced the functionality of Minting NFTs through a Twitter button, with NFT holders having the right to subsequent airdrops of $SEND tokens.
And it is clearly stated in the introduction of the SEND project that SEND will be a community token that supports Solana’s Blink ecosystem.
Do you remember when Warpcast itself didn’t have a token, but it incubated community meme tokens like DEGEN?
SEND is supporting the Blink ecosystem by creating a sample of its own and creating a speculative FOMO.
On July 3rd, SEND directly posted on X, launching 100,000 Send It series NFTs, and with the functionality of Blink, users can directly click the Collect button on the X page to Mint them.
With the “Allow ACTION on X.com” feature of the Phantom wallet (supporting the Blink technical framework), you can easily Mint this NFT.
At the same time, SEND officially stated that each NFT holder would have the chance to win a lottery prize of 6.9 SOL as well as undisclosed airdrop rewards.
Considering that SEND also has its own “community coin $SEND,” it’s highly likely that these undisclosed airdrops are referring to $SEND tokens themselves.
With several key elements combined, the FOMO sentiment naturally escalated, and the Send It NFTs were quickly sold out. As of the time of writing, the floor price for this series on Tensor is around 0.42 SOL.
And obviously, the SEND team knows how to create a buzz. After the NFTs were Minted, they posted a link with Blink functionality, indicating that now you can’t Mint it anymore, but you can trade it, making it possible to purchase the NFT with just one click.
At this point, Send It carries even more speculative meaning, and its implications might send the floor price of NFTs skyrocketing.
With the technology, use cases, and playfulness surrounding Blink, SEND indeed reminds people of the hype surrounding Warpcaster and the emergence of meme tokens like DEGEN.
The SEND official website is currently very simple and does not reveal more details about the token or the underlying institutions. However, based on the project’s purpose and showcased use cases, it is more focused on serving the future ecosystem that Blink can build and the developers within it.
In the lengthy tweet thread mentioned earlier, where 100+ Blinks use cases were presented, SEND explicitly stated that they welcome other developers to implement similar use cases and actively engage with them.
This is essentially saying that they have the ability to create their own examples and also welcome more developers to build the Blink ecosystem together.
Having been in the crypto community for a while, we all know that solely relying on technical excellence and bravery is difficult to stand out in a limited and disloyal attention environment. Whatever you do, you should leave room for imagination related to tokens.
SEND clearly embodies this characteristic. It is not only about technical development and ecosystem support but also has its own token, $SEND, which is already rooted in the community.
Although the specific partnership model has not been announced, we can boldly imagine that the projects collaborating with SEND to develop Blink use cases may receive rewards in the form of SEND tokens. And the users who use these use cases may also receive rewards in the form of SEND tokens.
This is similar to the creation of tokens like DEGEN, CAST, and MEME in Farcaster or Warpcaster.
All tokens are the best reward for early participation and contribution to the ecosystem.
However, the development of DEGEN and other meme tokens is driven by user activity, where active users can obtain them. On the other hand, SEND seems to be employing a dual approach – supporting developers building Blink use cases and rewarding users who use Blink, both potentially receiving SEND tokens.
From the community, to the community.
People don’t dislike the creation of a token out of thin air; they dislike not getting any benefits from it.
By taking advantage of this psychology, the SEND model can certainly continue and generate network effects as more people use Blink and share their airdrop experiences.
However, just as Farcaster had its peak daily active users and TON’s ecosystem instantly gained 1 million followers, it is difficult to predict who will be a flash in the pan and who will have the last laugh.
But one thing we know is that whoever pleases the community will have liquidity and attention.
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