After weeks of bullish sentiment, this is now the second straight week of floor price declines for Internet Computer NFT projects. In fact, the only two projects that were able to maintain their floor price from Monday to Monday were Voxel Assassins and Infernal Vampire Colony (Gen1).
But there was still a lot of buying and selling on the marketplace. In fact, some collectors used this past week as an opportunity to hunt for rare NFTs that would have been well out of their price range previously.
There were also many new projects launched this week – several of which are still available on the Entrepot Launchpad as I write this article. Before I get into some of the new and upcoming projects to keep an eye on, I’m going to start with some breaking news that may be a big deal not just for Internet Computer NFTs but for ICP and the ecosystem as a whole.
BTC Flower Becomes the First Internet Computer NFT Featured on Coinbase
When you click on a coin on your Coinbase account and scroll to the bottom of the screen, there are two types of news features. There are “Top Stories,” which are usually from top crypto and investing news sources like CoinDesk or Forbes. But there are also “Community Updates.” On March 8th, BTCF Flower became the first NFT (at least, that I can recall) to be featured under the ICP cryptocurrency as part of a community update. This is because the DFINITY team posted an article about BTC Flower and the future DAO.
Other topics discussed in the article include:
· The immense success of the initial sale of BTC Flowers – it sold out in less than 30 seconds
· The reverse gas affordability - the team says it only cost them a few dollars to host the initial sale
· Spotlight on market cap thanks to Avocado Research – this gave exposure to 15 projects on the Internet Computer (as well as the Avocado Research project itself)
· The upcoming ETH Flower airdrop - scheduled for March 23rd, exactly two months after the initial launch of BTC Flower
· The scheduled launch of ICP Flower in Q4 2022
· The BTC Flower showcase at Art Basel – this year, Art Basel is scheduled for December 1-3
If you haven’t already, you should read the entire post on the DFINITY Foundation’s Medium blog.
Six New Projects Enter the Marketplace
As the popularity of NFTs on the Internet Computer increases, so do the number of new projects. There were six projects that are now available on the secondary marketplace. Here is a little bit about each one in no particular order.
· ICDinos – Arguably the most successful of the week’s drops, ICDinos were able to sell out rapidly. While the Dinos are not visible yet, and there is no rarity so far, people love the dinosaur eggs and the project. On Monday, the floor was holding at 7.75 ICP, nearly double the public sale price of 4 ICP. I’m looking forward to what will happen when the eggs hatch, we meet our Dinos, and we find out how rare they are. MORE BREAKING NEWS: A hatch date of March 20th was announced as I was writing this article.
· Vibesters – This project of invisible characters with lots of accessory features sold out rapidly as well. The floor price on Monday was 1.25 ICP. I was sure to grab one wearing a Dfintity Community sweatshirt on the secondary market.
· ICP.Dog – After delays due to security concerns, the hardworking team won everyone over and sold out rapidly. The floor price on Monday was 1.68 ICP, but you’ll have to pay a lot more if you want a female dog. Keep in mind that you’ll need both a male and a female for future breeding, according to the project’s blog.
· Weapons of Eimolad – Another free airdrop on DSCVR, and I have to give a shoutout to DKLORD89 and OG Medals because holding one is why I received the airdrop for a project that I had frankly been unaware of. Since then, I’ve heard good things about the project and the team, and a floor price of 3.25 ICP for an NFT that was given out for free is a great indicator the community likes this project. It's one to keep an eye on for sure.
· Panda Queen – The first project from Animal Guardians appears to have experienced a coordinated attack of price dumping in the initial moments of the sale, leading to a floor price of .64 ICP on Monday. This is particularly shocking considering it is the most charity-oriented project in the ecosystem.
Rustin announced on Tuesday that the initial sale would close shortly, and holders would receive a 1:1 airdrop following a snapshot. Plus, more good news for OG Medal holders – they will also receive an airdrop. If you want to learn more about the artist behind the Panda Queen NFT collection, you can look forward to my interview with the extremely talented Mark Sarmel.
· DfinityGangs – First, I have to give a shoutout to Crowd-Created-Canvas. The CCC marketplace is really starting to expand. Besides their own zombie NFT collection, you can now buy ICTurtles and DfinityGangs via CCC. They have also secured the upcoming launch from the Avocado Research team (March 17th).
But back to DfinityGangs – This is a great project in what has now become a classic NFT style. Another free drop both on DSCVR and direct to wallets, DfinityGangs has managed to become the number one project by volume in the CCC Marketplace with over 8k ICP in secondary sales (this much volume would have made it a top 20 project on Entrepot in its first week).
So congrats to the team on that accomplishment! The floor price was at 3.19 ICP on Monday – yet another phenomenal example of a project immediately gaining value despite being handed out for free.
The Look Ahead
Entrepot packed the launchpad this week with IC8, Feminiverse, and ICPCS all dropping before next Monday. Plus, I’ve gotten into the habit of checking my DSCVR airdrops folder every day. You never know what you’ll find. Additionally, NFciTy, Avocado Research, ICMoji Legends, Internet Humans, and ICKoalas are all scheduled to launch in March, so don’t forget to fund your wallet for your favorite projects.
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