Pay attention to Hic et Nunc

• 3 min read
Pay attention to Hic et Nunc

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

Note: I pulled these numbers on 1st June and the dataset excludes accounts banned for activities such as wash-trading.

[1/7] 110k NFTs have been minted on the platform

[2/7] HEN has 12.3k artists. There are 15.3k collectors, 5k collectors who have never minted and 7.6k collectors who are artists themselves.

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 for a strong marketplace. HEN embodies this.

[3/7] HEN has had 1.13M XTZ in artwork trades. At today's price of $3.84 that is a total volume of $4.3M. Note that before the current crypto market slump, XTZ was trading at $6+, and the fiat value of this volume was much higher.

[4/7] The top 10 collectors accounted for 7.9% of all the money spent on the platform. The top 100 were responsible for 34.0% of the spend.

[5/7] 51.7% of the trading volume was spent on editions with a value less than or equal to 10 XTZ. This may not appear to be a lot, but with many artists selling NFTs that are editions of 25, 50 or 100 that small edition price can stack into significant sale revenue while remaining accessible to the average collector.

[6/7] The governance token of HEN, hDAO, is currently worth 4.48XTZ. I'm hodling mine. I think it's undervalued right now.

[7/7] Daily spend on the platform is on a strong upwards trajectory even though incumbent NFT marketplaces have been seeing trading volume dip in recent weeks.

(Credit: @jagracar)

Rafael Lima and the team of volunteer devs 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 that the users genuinely love and care about.

Big thanks to @jagracar, Tezos data Archmage 🧙, for open-sourcing his HEN data analysis code and being kind enough to answer all the questions I had about his repo. If youre interested in HEN data you should definitely follow him on Twitter ⚡

Article of the week

Manifold Creator
Introducing Manifold Creator, a creator-owned NFT minting smart contract, and more.

^ Last week, Manifold launched their Manifold Creator contract. I think it presents a fascinating new option for creators who want to mint to their own smart contract with additional plug and play functionality, as opposed to using the default smart contract of big platforms like OpenSea or SuperRare. Check it out.


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