In general, the Internet Computer NFT marketplace saw its first quiet week of 2022. Perhaps it is related to fears of a bear crypto market emerging to start the year. Regardless of the reason, not all projects were impacted. Big announcements and increasing scarcity seem to be boosting some projects. Let’s look at the week’s top movers, new entries to the marketplace, and what we can expect from the coming week.
This Weeks Top Performing NFT Projects
Let’s start with our Top 3-floor price movements for the week:
· ICSnakes – ICSnakes saw a 60% bump in floor price from .3 ICP to .48 ICP. It’s a big move from a project that just entered the marketplace last week and immediately got buried on Entrepot’s Marketplace page. Perhaps the rising floor price was due to the news that the snakes intend to release a competing marketplace by the end of next month. The 20 ICP bounty for naming the new marketplace is also drawing a lot of attention to the project.
· Imagination – When projects support one another, big things happen. For example, BeYou (the creators of DfinityDeck) tweeted about the Imagination series on Friday. By Saturday, there were only 46 NFTs from the project still on the market, and the floor price hit 3 ICP, up 52% from last week. At the same time, DfinityDeck also jumped 20% to a floor price of 180 ICP!
· Cyman – Cyman not only saw a 50% leap in floor price this week from .4 ICP to .6 ICP, but they also tied the biggest ever single sale in the collection as #6615 sold for 20 ICP.
The rest of the secondary market was pretty quiet this week, but here are a couple of honorable mentions:
· Prime8s – The number of Prime8s on the market dropped by over 200 this week, likely because of a raffle that requires delisting your NFTs to get more tickets. The floor price saw positive movement for the first time in recent weeks, up 21%. With the project's dev feeling better after a prolonged illness, I expect to see good things continue to happen for the Prime8s community.
· ICmoji – Get ready for my first ever “I told you so” moment. Last week I mentioned a promising teaser from the ICmoji team. With the announcement of a new randomly generated ICmoji collection, the floor price is up for the second consecutive week. I expect the news to keep pushing the OG collection to new heights, especially after a successful test of tournament mode this week. Remember, you will have to own at least three mojis from the original collection to compete in the weekly tournaments for prizes.
The BIG Number
Total Volume traded on Entrepot . Just for Top 10 (out of 58) Collections (by traded volume, as of 7:30 am EST 1/25)
New Projects Enter the Secondary Marketplace
The two projects I mentioned last week both made it to the secondary marketplace this week. ICTurtles can boast 2,300 ICP in total sales volume already on the Entrepot marketplace and they are also available on the CCC marketplace. ICAliens have also entered the secondary market and have 465 ICP in sales volume.
New Projects to Look for This Week
Three main projects are launching imminently. The IVC Gen2 sale is already on and may be sold out by the time this article is posted. With the success of the Gen1 IVC NFTs on the secondary market, collectors are hoping for more of the same from Gen2.
Meanwhile, BTC Flower’s delayed release finally happened on Sunday the 23rd. This exciting project from famous street artist Ludo was limited to just 2009 NFTs and came at the price of 5 ICP for all but the select few who acquired entry to the private sale 12 hours earlier. The collection sold out within seconds, especially with ICP trading at a steep discount over the weekend and with a floor price of 14 ICP at the time of writing, those that snagged one or two at launch or whitelisted prices can feel very good about everything.
Also, Crypto4Changemaking's first project, Cypto4Meadow, drops in just a few days. NFTs and saving the planet? You can sign me up for that! The proceeds from the collection will be used to buy or rent unused land, sow a wildflower mix, and maintain it for five years. Plus, they intend to offset any carbon footprint resulting from the project. You can learn more on their website: https://c4ch.art/.
BREAKING NEWS: I had to add a last-minute update to this article because BTC Flower blossomed quickly with more than 10k ICP in sales volume in its first 24 hours. I expect to be covering this further in next week's update!
That’s all the market news for this week. Join me for more market success stories, new entries to the marketplace, and projects to keep an eye on next week.
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