Did Pineapple Punks add new liquidity to the ecosystem a couple of weeks ago? Is it the onslaught of DeFi tokens on the Internet Computer? Regardless of the reason, ICP is flowing into the NFT marketplace. Many collection floor prices are rising. Collections that were languishing are seeing major sweeps. And scarcity is setting in. What do I mean by that? Let’s look at the numbers.
What Are Some Collections with Increasingly Scarce Listings?
The magic number for a collection is often touted as 10%. If less than 10% of a collection is listed for sale, it’s really scarce because you also have to assume some of those listings are comically high prices that no one will ever pay. BTC Flower has reached this epic level of scarcity, with less than 10% of the collection being listed on the secondary market for about a month now. What other collections have reached the under 10% milestone? Which ones under 20% are trending in the right direction?
· Poked Bots – Scarcity continues to increase for the Poked Bots collection. It’s currently at 10.9% and threatening to hit that 10% milestone. It’s no wonder that the floor price of the collection is up 23.7% over the past two weeks, from 19.8 ICP to 24.5 ICP.
· Motoko Ghosts – The original Motoko NFT collection is one of the few to have reached the milestone, with currently just 9.8% of the NFTs listed for sale. The floor price is also up 19.5% over the past two weeks, from 30 ICP to 35.86 ICP.
· ETH Flower – This is another collection where scarcity is increasing week by week. Currently, just 13.5% of ETH Flowers are on the secondary market, and the collection floor price has been up 10% over the past two weeks.
· Dfinity Donkey – This collection has seen one of the sharpest decreases in listed NFTs as collectors await more drops of $DONGE token. Just 10.7% of the Donks are up for sale, and the floor price has doubled over the past two weeks.
· Vibrant Diamonds – This limited collection of 1000 NFTs only has 11.7% of the collection listed. The floor price is also up 50% over the past two weeks.
· Drakon – What a success story! From a collection that didn’t seem like it could ever sell out, Drakon is now the first of three successful collections (with more to come). Only 10.6% of these dragons are listed for sale as collectors hope to increase their Club card holdings for the next quarter.
· PODs – There are actually more PODs listed for sale this week than last week, but that’s because Distrikt dropped more to platform users. In total, just 8.2% of PODs are listed for sale, and the price is up 14.1% from two weeks ago, despite more being added to the market.
· PRP-KIX – This 25 piece collection from VRSTL just disappeared. There were eight for sale just a couple of weeks ago, and the floor price was 18 ICP. Now there are only two available (8% of the tiny collection), and the floor price ballooned 177.8% to 50 ICP.
Then there are also a couple of new collections that people are holding on to tightly.
· Motoko Mechs – No one wants to give up their new Motokos! Just 12% of the collection is currently up for sale, and the floor price is sitting at 55 ICP.
· FACELESS – Sunny already announced a future airdrop for holders, so it’s no wonder that just 11.3% of this stunning AI collection is up for sale. We’ll let you know more about the second collection when the drop approaches, but it’s still a few months off (no set date) to give collectors time to enjoy these beautiful characters.
What I’m Watching This Week
There are a few collections I’ll be watching closely this week.
· DogFinity – The DogFinity collection is having a moment thanks to the announcement of an upcoming token drop for holders. Over a two-week period, the floor price is up 75% from 2.4 ICP to 4.2 ICP.
· Puzzles – The 3D airdrop for ICPuzzle holders is here! After the last few are sold in a public sale, the marketplace will open. It will be interesting to see how the community responds to this collection from artist Neel (of ICPuzzle and The Eggs fame).
· FACELESS – This collection is so nice it made the article twice! Since trading just started when I was writing this article, I’ll be watching to see what happens. It is already the #6 collection by volume on the still-young Yumi marketplace.
That’s all for this week. See you next time!
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