Despite holding Orbital NFTs since the mint, I have yet to write any content on the project, not even a TLDR. It is the brainchild of the respective founders of Droid Capital and Revenue Rebels: iAmDroid and Stoizy, two well known individuals in the Solana space.
In a nutshell, Orbital is a revenue sharing project minted early 2023, distributing profits earned on average every month to its holders. I have created a bullet-point list highlighting important updates and announcements, which I aim to detail and explain in this thread. Enjoy!
The Orbital mint, open predominantly to holders of Droid Capital and Revenue Rebels, closed in early January of this year. The tiered mint raised a whopping $460,000, exceeding all expectations at the time.
The treasury as of December 22nd, stands at approximately $510,000. This figure is $50k higher than the amount raised at the mint, AND this is despite distributing over $100,000 in payments to NFT holders throughout the year. Quite the achievement!
The first payout occured on the 5th of March this year, and has since repeated on average every 29.6 days, let’s call it monthly. As I mentioned, the treasury has sent out over $100k worth of profits to holders thus far, which in todays value is an estimated $170k, due to the payments being in $SOL.
This first chart shows the total profit made between each payout. It is fair to say that the profitability is certainly trending upwards, in large part due to the recent performance of major cryptos such as $SOL, $BTC, $ETH etc.
https://rows.com/embed/z8Gk3U1cyc3k7jxrxciLzGWVilZguzu6ny6Lmw6dAPz/718d6b55-b45a-43b9-8f4a-4e5f7ee7467d?_height=540
This chart illustrates the amount of revenue distributed to each NFT on every payout to date, the trend here will mirror that of the previous chart, seeing as the proportion of profit distributed to holders is a constant value of 65%.
https://rows.com/embed/z8Gk3U1cyc3k7jxrxciLzGWVilZguzu6ny6Lmw6dAPz/90746e67-8a2e-422f-adcb-983645756d5f?_height=540
NOTE: Orbital has also generated a sizeable amount of revenue for the respective projects, due to the 10% of profit shared equally between the two.
Recently iAmDroid and Stoizy announced a burn of 183 NFTs or 3% of the total orbital supply, these were NFTs held by the treasury since the mint, and as a result the collection is now technically deflationary, technically…
Only 1% of the entire supply is listed on Magic Eden, indicating the conviction that the holders have in the project, which is definitely encouraging to see. As I write this, the FP stands at 0.85 $SOL, or approximately $90, a 36% increase in value for those who minted at the Tier 1 price of $66.
Lastly, in light of the Droid Capital connection, iAmDroid has managed to acquire 3 $KAS miners for the orbital treasury at a cost of roughly $12k each, including electricity costs. The miners are already operational, and are raking in between $70-$80 per day. A conservative estimate puts the pay-off date at just under 6 months time, which is bloody fantastic.
That’s all I have to share about Orbital for the time being. Thanks for reading! If you enjoyed this, drop a follow on X and Telegram to stay in the loop.
As always, stay safe and bullish,