There’s a lot of news in the Internet Computer ecosystem this week, but I’m going to stick to the big NFT announcements since this is a weekly marketplace update. The biggest news items this week include the launch of Jelly marketplace by Psychedelic, the NFT news coming out of the Supernova Hackathon, and a few big floor price jumps.
Crowns Lead the Week in Trading
In just a few days of trading, Crowns are about to pass 17k ICP in trading volume. They are only available on Psychedelic’s new NFT marketplace, Jelly. Here is the good, the bad, and the ugly coming from this new launch.
The Good
· 17k in volume is huge and shows that the Internet Computer has plenty of room for new marketplaces, even during the bear market.
· The floor price for Crowns is 6.5 ICP. That’s not too bad for a collection of 10k that was airdropped months ago and only just finally became tradeable.
· The Jelly marketplace is really smooth, and the features (like the sorting) work well. It’s nice being able to see the percent of the collection each trait makes up while searching.
· BINDING OFFERS – That’s right- when you have an offer accepted or agree to an offer on Jelly, the ICP and NFT are exchanged immediately! This is the first marketplace on the Internet Computer to get this feature working, and it appears to be functioning well so far.
The Bad
· So far, Jelly is Plug wallet exclusive, as far as the two main ICP wallets are concerned. In a way, it makes sense because Plug and Jelly are both made by Psychedelic, so integration is simple. However, other marketplaces (like Entrepot, CCC, and Yumi) that allow you to choose between Plug and Stoic wallets provide users with more options. Also, since Stoic wallet works on mobile and Plug really doesn’t (at least when it comes to trading NFTs), this means you will have to get your laptop out to trade a Crown.
· Trading on Jelly uses WICP. But at this time, you can’t swap tokens in Plug wallet. You also can’t swap tokens on Jelly. So to get WICP, you have to use Psychedelic’s Sonic exchange. It adds an extra step. Also, the WICP used on Jelly is different from the WICP used on CCC and Ceto. So I guess there are currently two different WICP tokens on the IC. Hopefully, that won’t get too confusing.
The Ugly
· Why can’t we sort by listing price?
All in all, Jelly is a good first venture into the NFT market from Psychedelic. Hopefully, updates to the interface (like sorting by listing price) and other NFT collections are in the works.
NFT News Coming Out of Supernova
I’m writing this article on the submission due date, so a lot of things will probably happen in the next few days before this article is released. However, there are a few big things to watch out for that have been announced this week.
· Plethora is live – Plethora (the game from the MoonWalkers team) already had its first new launch with 3D Baby Apes up for grabs in a timed minigame. Look for more collaborations and NFTs that you can win. The game was super smooth and really fun on Chrome. It’s unplayable on Brave (even with shields down) but enjoyable enough to download a second browser. Plethora is going from strength to strength, having lately announced a partnership with the DeFi giant, InfinitySwap.
· The dSquad MVP will launch at any moment – After ICPSquad NFTs rebranded as dSqaud to eliminate confusion with our media outlet, they also released more teasers and documentation regarding their MVP. We look forward to seeing the new accessories, minting features, missions, and more! In the meantime, the project has rewarded holders with airdrops numerous times recently. The most recent was when 40 top holders who submitted a form received 10 FCE – Ceto’s F-NFT.
· Astronautics dropped their GameFi trailer, and it’s hot! – This project seems like it is going to have everything from online gaming to a board game to merch to staking. This is definitely a project I’m going to be keeping an eye on (and not just because I’m an OG in their recently opened discord server). This project combines stunning art and compelling storytelling along with humor and a legit team. We’re talking Hasbro UK on the resume! So when they say a board game is in the works, they don’t mean some cheap gimmick for superfans of the project only. Congrats to everyone who was able to get on the whitelist when the discord opened on Monday.
This is just a shortlist of NFTs that are coming out of the hackathon. I’m sure I will be covering many more projects in the weeks to come.
This Week’s Top Performing Projects
Of course, my weekly update wouldn’t be complete without giving a shoutout to some of the projects that performed the best this week, so here are some of the NFT projects on the IC with rising floor prices despite the bear market.
· Cani Club – Canistore’s club passes saw a 50% bump in floor price from 2 ICP to 3 ICP. While this is still far off from the mint price of 5 ICP, there are not many NFTs listed below that price anymore. A couple of floor sweeps could be enough to get collectors back in the green. Plus, every pass comes with a future token airdrop.
· IC Koalas – The first NFT collection from Klumsy Koalas has seen floor price increases for four consecutive weeks following their rebranding and collaboration to launch their 3D Koalas on Cardano. The floor is up 35% this week alone from 0.59 ICP to 0.8 ICP, and it’s up 63% over the past month.
· DfinityDeck – As the ORIGINS collection launch draws closer, both the Paradigm and Elements floor prices continue to rise. The announcement that NFTs would have to be delisted to qualify for airdrops has also created scarcity. Currently, there are only 3 NFTs from the Paradigm collection listed, and the floor is at 500 ICP. There are also 34 NFTs from the Elements collection listed, and the floor is at 27 ICP (up from 19.5 ICP last week).
· The Eggs Collection- huge sales volume has seen the collection continuing its meteoric ascent up the Entrepot ladder, with a recent sale of 399 ICP for a 100% NRI BTC Flower egg.
That’s it for this week’s report. Keep your eyes open for new collections coming out of the hackathon (including Motoko Mechs), and remember to always trade responsibly.
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