The Internet Computer’s NFT Marketplaces Work to Combat Flat Prices

Adam Kantrowitz
Adam Kantrowitz

You’ve probably noticed that I haven’t had much to say about individual NFT collection prices and volume over the past couple of weeks. After quite a few good weeks of activity in a row, the Internet Computer NFT market seems to have caught up to the rest of the crypto scene and gone rather flat. However, the best building always happens in between market booms. The NFT marketplaces on the IC certainly seem to be preparing for the next bull run.

Here is a look at a few recent marketplace adjustments. I’ll conclude with a little info on my personal NFT art collection, which is launching this Monday in the Eastern Hemisphere (Sunday evening in the Western Hemisphere).

Entrepot Updates the Launchpad to Showcase the Newest Collections

Entrepot has added two great features over the past two weeks that new NFT collections certainly needed. First of all, they integrated Toniq Mint (their self-minting dApp) with Google Calendar. This always allows anyone to add the latest launches on Entrepot to their Google Calendar. The calendar will automatically convert the launch times to the time zone you set for your account, so you never have to worry about missing another launch again! You can add all the future launches to your calendar by clicking the link in this Tweet.

The other big update is the sorting of the Launchpad page itself. I’ve been pretty vocal in the past about how tough it is for a new launch to get attention when refreshing the Launchpad would randomly jumble the order of the launches on the page with no consideration as to when the launch happened or how long it has been sitting listlessly on the Launchpad. Now, the Launchpad listings start with upcoming collections and those launched most recently. Then, it seems to progress into recent volume. Refreshing the screen calls up the exact same list. So it appears that the team has quietly introduced a feature many of us have been asking about for a long time. And I have to admit that it’s great timing for me personally since it sent my upcoming art collection right to the top of the list.

The Entrepot Launchpad update puts recent and upcoming launches at the top where they belong.

Yumi Updates the Total Volume Stat for Their Marketplace

Some IC marketplaces (Entrepot, for example) separate total secondary volume from launchpad sales. Others (like CCC) include launchpad figures with secondary sales to get the total volume. Yumi switched things up on us all last week. They used to count only the secondary market sales for total volume on the marketplace. But they decided to start including launchpad sales in the total volume figure. This had a few impacts they probably didn’t count on.

· It threw off reporting for the week for projects like ICStats. The total volume figures for the week suddenly jumped on all the projects that had launchpad sales.

· It dramatically changed the order of NFT collections on their marketplace. For example, Distrikt’s PODs lost the number one spot because they were all airdropped and didn’t have any launchpad sales to add to the total volume.

While we all wish these were real statistics on the Internet Computer, a combination of how Yumi calculates total volume combined with a few bad actors in the marketplace results in an inflated stats sheet. Don't worry, though; the latest ICStats reports are back to giving us great NFT collection information!

In the end, this wasn’t a huge deal, and it’s better that they change it now rather than later when the impact on the community would have been even more dramatic. It may even help some projects with a visibility boost due to the larger overall volume.

The other big change that Yumi made to the marketplace is that they shifted all of their own collections to the end of the page regardless of the collection volume. The shift made sense after a few people took advantage of the low secondary market fees promotion to wash trade in an attempt to earn themselves some extra Yumi tokens. Yumi wisely didn’t want to bury other NFT collections behind their own. However, it’s unfortunate that those who might have been interested in shopping for some of these Yumi collectibles might never see them at the bottom of the page.

I guess what I’m trying to say is: don’t forget to scroll to the bottom sometimes when shopping on the Yumi marketplace for NFTs.

CrowdFund NFT Expands Their List of Compatible Wallets

CrowdFund NFTs have been here for a while, but the fact that only Plug wallet was integrated with the dApp closed accessibility to some in the community. Now, CrowdFund NFTs is trying to expand the net for drawing in project investors. Recently, they added both Stoic and Infinity Wallet.

Stoic wallet, from Entrepot, is known for being the easiest wallet to use on mobile devices, so you never have to worry about missing a crowdfunding opportunity because you couldn’t get to your desktop or laptop. Meanwhile, Infinity Wallet from InfinitySwap is now integrated with every major marketplace on the IC. Additionally, both Stoic and Infinity Wallet allow you to view EXT token standard NFTs in the wallet.

The Colorful Abstracts Launch Is Coming Soon

I’ll close out the week by discussing the collection I have to be the most excited about because I personally digitally hand-painted all 50 assets. You can learn more about Colorful Abstractions on my Nuance blog. But here are a few details you will want to know.

Preview of the Colorful Abstracts NFT collection's homepage banner

· There are 121 addresses on the private sale list and only 50 assets, so my goal is to have the collection sold out before the public sale is scheduled to begin 12 hours later.

· Each wallet is limited to one NFT during the private sale. However, if it reaches the public sale, there will be a “Buy 2” button (no discount), and wallets will be limited to 2 NFTs in the public sale.

· The price is 2.5 ICP for the private sale and 4 ICP for the public sale. I wanted my first art collection to be as accessible as possible, so I made the decision to keep the mint price low and to set my royalty at 9% to compensate.

· You will notice that my signature looks different on 10 of the 50 NFTs. Those were all painted in 2021 when I signed my initials very legibly and then printed a 2-digit year next to them. In the 40 paintings that were made in the last six months, I’ve adopted a more stylistic signature. But rest assured, the same person painted all 50 (me). You can zoom in on the bottom right-hand corner of the NFTs to see my signature.

I want to close by thanking the Entrepot team for a seamless experience using the self-minter. I’m looking forward to seeing what the community thinks of my art, and I want to thank everyone in advance for supporting my art in the way you have supported my writing. Love to all!

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  • Disclaimer: The views and opinions expressed on this website are solely those of the original author and other contributors. These views and opinions do not necessarily represent those of the Dfinity Community staff and/or any/all contributors to this site.

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