HicEtNunc Financial Weekly - NR32
Posted on Aug 16, 2021
The NFT Platform HicEtNunc launched in 2021 on the (POS) Tezos chain and grew to generate milions of dollars of income for artists in only a couple of months. To capture that story in it's native format I started creating animated visuals based on the inherently public blockchain data displaying the key metrics of the HicEtNunc platform.
This blogpost shows the visuals generated for week 32, recapping the most important metrics for https://hicetnunc.xyz up to August 15, 2021.
NFTs on HicEtNunc are called OBJKTs. 200.000+ have been created so far in the span of a couple of months.
On HicEtNunc OBJKTs are primarily traded by putting them up for a 'swap' for a certain price in xtz and then somebody collecting that OBJKT for that price.
This being an open blockchain, everyone is able to create contracts that enable the transfer of OBJKT tokens. During a downtime period on HicEtNunc because of an exposed exploit in the primary swap contract, controversially but coincidentally* another website, objkt.bid, launched it's own contracts for exchanging tokens through multiple auction mechanisms. But blockchain data shows these contracts haven't been used a lot as of yet by the HicEtNunc community.
*I believe so, giving them the benefit of doubt.
HicEtNunc generated a lot of transactions, which is one thing, but they also account for substantial amount of value exchanging wallets. A lot of artists use earnings to buy new works, potentially creating a somewhat closed eco-system of artists mainly trading with each other. Still calculations show that every week the majority of transactions brings new money into the ecosystem.
Keep an eye out on twitter: @hoogerwoord for new editions every monday.
All visuals generated using the Hyperobjects Workbench.