Glimmers of Hope as the Bear Market Continues Its Grip on NFTs

Adam Kantrowitz
Adam Kantrowitz
Glimmers of Hope as the Bear Market Continues Its Grip on NFTs

The current state of the NFT market shows that many people in the community still fashion themselves as investors rather than art collectors. The world of collectibles and art often still thrives when investor marketplaces are trending lower. But the NFT marketplace seems to be following the recent trends of crypto markets.

Of course, there are always some bright spots, and dedicated collectors often take advantage of circumstances like these searching out bargains. So let’s take a closer look at some of the things happening in the Internet Computer NFT market this past week.

A screenshot of BTC Flower #1542. The R.I.P. $ epitaph is considered one of the rarest traits from the original collection. 

The Largest Sales of the Week

BTC Flower notches the two largest sales of the week.

· BTC Flower #1517 sold for 360 ICP – It features a beautiful golden flower and a diamond coin.

· BTC Flower #1542 sold for 340 ICP – It features the R.I.P. $ epitaph, which is one of the more sought-after features in the collection. There are only 124 in the collection, making a triple pairing the only feature that is rarer.

ETH Flowers are continuing to hold their floor price at 98 ICP. The ongoing staying power of BTC and ETH Flowers is a testament to these being some of the flagship collections of the IC. ETH Flower also moved into 5th place for total volume on Entrepot’s secondary market. The community is anxiously awaiting the arrival of ICP Flowers.

ICPxy partnered with the team behind ghost token. Now you can earn $ghost for staking either ICPxy or Ghost NFTs on their intuitively designed staking dApp. 

ICPxy Raises the Stakes

ICPxy’s second release of 1500 NFTs is within 100 NFTs of selling out as this article is being written. The team adopted a strong launch model from the beginning, releasing the 6000 NFTs in batches of 1500 to fund the next milestone. This holds the team accountable to the community for completing roadmap milestones. When milestones are reached, the next batch is released, and the team can raise more funds to work on the next part of the project.

The IC community has clearly adopted this strategy with open arms. Even during difficult market conditions, ICPxy seems certain to sell its entire second batch of NFTs. They also partnered up with another beloved project on the IC – Ghost. You can now earn $ghost tokens when you stake your ICPxy NFTs on the ICPxy dApp. ICPxy announced the collaboration by saying that Ghost is a top meme project, and the goal of the partnership is to further the adoption of the Internet Computer blockchain. A lofty goal, indeed!

Colorful Abstracts #3 just sold. I only included art I really love in this collection (plenty of artworks didn't make the cut), but this is one of the ones that makes me particularly happy when I look at it.

A Heartfelt Thanks to a Wonderful Community of People

As I write this article, my Colorful Abstracts art collection just reached the 50% sold mark, and I just want to say how grateful I am. First of all, thank you to everyone who collected some of my art. Whether you did it because you love the art or because you wanted to support me (or both), I really appreciate it. Thank you from the bottom of my heart.

I envision a world where all sorts of artists stream to NFTs to create what’s in their hearts so they can share it with the world. Art really does make the world a better place. There is real scientific evidence that looking at art can reduce stress and provide many other health benefits.

Sadly, not everyone has access to museums and art galleries, and even fewer can have their own private art collection. So if you get a little joy, stress relief, or other mental health benefits from looking at my art and the art of the many talented creators on the IC, I feel like we are doing our job as artists. Thanks for looking (and collecting, if you can afford it).

Until next week, my friends.

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