There hasn’t been a lot to get excited about so far in 2023, so when ICP NFT bulls catch wind of something happening, they are quick to capitalize. And we just saw the biggest example of this over the past week. Which collection just saw the biggest price pump of 2023 so far? Let’s see if you can figure it out from these clues.
· The project was the Blue Sky category winner at the Supernova Hackathon last spring.
· On Monday the 12th, the NFT floor price was a solid 75 ICP.
· Before this week’s pump, there had only been one sale in the collection over the previous month.
· The team released a whitepaper this week that included a 4% token airdrop for their NFT holders.
· Explosive NFT sales saw the floor price temporarily peak at 400 ICP last Wednesday!
· The floor price ended up at 250 ICP on Saturday, up 333% from the start of the week.
· They set repeated ATH sale prices for the collection, culminating at 240 ICP.
Did you figure it out? If not, I’ll spell it out for you. Kinic – a web3 search engine – saw all of these incredible increases in just a 5-day period after releasing the whitepaper for their DAO. The NFTs had originally been sold on CrowdFund NFT (now Funded), and holders represent the project's OGs.
IMPORTANT: Always confirm with the project before buying or selling NFTs with an anticipated token drop to see whether a snapshot has already been taken.
Speaking of airdrops…
OG Community Members Say Thanks
You might have received an NFT back in January if you were part of the who’s who of the Internet Computer. The isaythanks collection was intended to be a way to reward loyal community members. However, quite a few changed hands over the months, some for as little as a few pennies. In the meantime, there was obviously something in the works because it was announced this week that an airdrop is coming for holders on Monday, 17 April, via Yumi.
Immediately after the news, the floor price jumped from 0.12 ICP to 0.17 ICP, an increase of 42%. Keep in mind, however, that by the time the announcement was made, the snapshot was already taken. Thus, buying the isaythanks NFT tickets now wouldn’t qualify you for the drop. On the other hand, a reward after just three months of holding and such a cheap floor may move some to try and acquire more tickets in case there is another “thank you” coming in the future.
Again, always do your own research before buying NFTs in hopes of future airdrops.
A New Collection Arrives
There haven’t been many new collections to get excited about lately, but NyanNyan Studio just launched a successful 10k collection of animated pixel cats, simply called Nyannyan, on Yumi marketplace. The collection sold out quickly (actually causing some issues for the Yumi team, who communicated well and worked rapidly to resolve the issue). While the current floor price is 0.07 ICP, that’s 40% above the mint price of 0.05 ICP. Plus, with a large portion of the collection having been airdropped, it’s a good sign to see the floor holding higher than the mint price right from day one.
That’s all for this week's article. I’ll update you again in the NFT bullet points of the weekly InfinitySwap newsletter.