The Clown Skateboards x Ludo release has dominated the Internet Computer marketplace this week. More on that in just a moment. First, I want to draw attention to supply and demand in the IC NFT marketplace and what collections may just be primed for floor price increases as the market recovers.
The Clown Skateboards x Ludo release has dominated the Internet Computer marketplace this week. More on that in just a moment. First, I want to draw attention to supply and demand in the IC NFT marketplace and what collections may just be primed for floor price increases as the market recovers.
Is 10% Listings the Magic Number?
Collectors seem to see 10% as a buy signal showing that there are very few people interested in selling a collection. Of course, this doesn’t mean anything without the demand for the NFTs. But when high demand meets such a low supply, floors can rise quickly. Let’s look at a few collections that are at or near a 10% listing rate on the secondary market.
· Distrikt’s PODs – While the PODs collection is only about half released, most of the ones in circulation are not up for sale. In fact, only about 11% of PODs are currently listed, despite the fact that there is often a short selling frenzy after each drop. It will be interesting to see what happens with the second half of the collection, which holds new types of PODs and many of the rarest NFTs in the bunch.
· Jon Ball’s Art – People are reluctant to list art from Pokedstudio’s Jon Ball, especially his early work on the IC. Only 12% of the original Poked bots collection is available on the secondary market (this factors in the total supply being reduced to 8,500 by the recent burn). And while the IP is owned by DFINITY, less than 10% of Jon’s artwork on Motoko Ghosts is listed for sale.
· Ludo’s Art – Most of Ludo’s collections are in short supply. Only 13% of BTC Flowers are listed, just 12% of ETH Flowers, and 13% of ICP Flowers. His latest launch with Clown Skateboards is the most limited of them all, with only 2,000 in circulation. At the time of writing, less than 9% are listed on secondary.
· Cubetopia Islands – Fewer than 10% of these NFTs for in-game use are available on the secondary market.
· ICTempies – This is a rare example of a 10k collection with a low supply. Less than 14% of the NFTs are available on the secondary market. Keep in mind that distribution is currently consolidated to just over 200 wallets and that half the collection is currently held by just six wallets. It will be interesting to see what Crusade Studios does next to draw attention to this collection.
Volume Soars for Clown Skateboards
I actually delayed writing this article to see what would happen in the first 24 hours of trading after the rapid minting of the Clown Skateboards NFTs. While we are still waiting for the reveal as I write this article, the collection is already approaching 5k ICP in secondary volume. Combine this with 27k ICP in minting volume, and you can see where much of the liquidity in the marketplace has gone in the past few days.
This week, I’ll be keeping an eye on the Clown Skateboards reveal. I’m also interested in the Freshman launch on Yumi from Shinjuku High this Wednesday. And Friday’s Grounded launch from Oli (featuring Wing) rounds out my update for this week. Remember to trade responsibly!
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