Why Artists Should Pay Attention to Hic et Nunc

I’m a big fan of the Hic et Nunc (HEN) NFT community and I’m bullish on the platform’s long term success. Here are some stats that explain why 👇

The HEN platform just passed 90k NFTs minted and is on target to hit 100k before the end of the month.

On 16th May, HEN passed the 10,000 artists mark. At the time, there were 10,313 collectors. 4,126 collectors who had never minted and 6,187 collectors who were artists themselves (Credit: @jagracar, Tezos Data Archmage 🧙)

These are insane numbers! In all the time I’ve spent crunching NFT market data, I’ve never seen an open platform with such a good collector to creator ratio and such a high proportion of artists who are collectors themselves.

I’ve always believed that artists reinvesting in the community by buying from other artists is the highest signal of a strong marketplace. HEN embodies this.

HEN is currently sitting at 1.13M XTZ in artwork trades. At today’s price of $3.86 that is a total volume of $4.4M. Please note that before the current crypto market slump, XTZ was trading at $6+, and the fiat value of this volume was much higher.

The governance token of @hicetnunc2000, hDAO, is currently worth 4.5XTZ. I’m hodling mine. I think it’s undervalued right now.

61% of the HEN transaction volume is from sales that are above 15XTZ. 38% of transaction volume is as a result of 100XTZ+ sales. These numbers may not be as high as those on Ethereum marketplaces, but they show that the trope of HEN being a ‘bargain bin’ of the NFT space is a misconception.

Rafael Lima and the team of volunteer devs and community organisers behind HEN have achieved a feat that most of the startups in the space with millions of dollars in funding have been unable to achieve. Building an NFT marketplace whose users genuinely love and care about it.

Hope you found this interesting!

NiftyTable crunches NFT market data. You can find him on Twitter. He is a proud Ghanaian 🇬🇭

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