Version 2 drives user activity to new levels
NFT marketplace Hic et Nunc has doubled its user activity amidst the implementation of an improved version of the platform. In the last 24 hours, unique active wallets have surged to 2,570 or over 150% compared to the previous day. Hic et Nunc has quickly emerged as the leading NFT crypto-art marketplace for experimental creators and artists on Tezos.
The NFT marketplace continues to evolve as an open-source platform built collaboratively by a community of volunteer developers. Additionally, It has no invite system and no doorkeepers – only a constant flow of images, interactive objects, audio experiments, and other media.
The number of transactions Hic et Nunc processed in the last 24 hours jumped significantly, to more than 14,810, compared to about 960 a couple of days before. The marketplace also saw an increase in active users from around 960 on Monday to 2,570 today. So what is driving all this activity?
Hic et Nunc is now in the process of migrating from its beta version 1 to a full version 2. Seemingly, it’s causing some sticky points along the way as users have taken to Twitter to voice concerns. Mainly that the only official information about creators needing to migrate is spread out through discord and Twitter threads. So, if you are reading this and you have NFT assets on Hic et Nunc please follow this link as your immediate action is required.
Importantly the reason for the observed surge in active wallets is that those creators with collections and NFTs on Hic et Nunc are required to migrate them to version 2. A process that requires a wallet signature and a transaction to take place. It’s not that the platform has seen a rush of new users, more than the current ones have flooded in to perform necessary action.
Nonetheless, as reported the platform is indeed growing quickly. An attractive factor to Hic et Nunc is the relatively cheap art. Many artists try to make a name for themselves, launching their profile on the marketplace. These are often experimental artworks for a small price. Prices often range from around $3 to a maximum of about $150. Vastly different from the majority of NFT art on the Ethereum blockchain, which often sells for a minimum of 0.1 ETH or around $250.
NFTs more relevant than ever
As the NFT space appears to cool down, in-depth numbers say the opposite; the number of sales and a daily average of unique active wallets spiked 111.46% and 151.89% respectively in Q2 compared with Q1 2021. At the fore, lower-value digital collectibles with utility. Land plots, avatars, low-value crypto art, collectible trading cards, and gamified DeFi trends are all contributing to the NFT success story. Arguably, Hic et Nunc is perfectly positioned to take full advantage of the situation.