Hic et Nunc Attracts More Users Than Big Competitors

Hic et Nunc boasts 2.88k active wallets in 24h

Hic et Nunc, one of the newest NFT marketplaces, built on Tezos, is outperforming many of its competitors in attracting new users. Big names in the industry like Rarible and Foundation are struggling to keep up. As a result, Hic et Nunc is ranked at number 4 on the DappRadar 24h marketplaces ranking at the time of writing. 

According to DappRadar data, Hic et Nunc had more than double the number of unique active wallets than Rarible. Additionally, it had more than quadruple those of Foundation. This is a remarkable achievement for such a new marketplace. But, of course, the novelty status helps boost activity, and this trend is not set in stone. 

Another 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. They often do some by releasing experimental artworks for a small price. Prices often range from 1 tez or $3 to a maximum of let’s say 50 tez ($150). That’s still a big difference with NFT art on the Ethereum blockchain, that often sells for 0.1 ETH ($250) or a lot more.

Hic et Nunc starts off well, but will it last

Launched just this March, Hic et Nunc is becoming the go-to marketplace on Tezos. Just in the last thirty days, it has processed transactions worth $2.75 million. While this is nowhere close to Rarible’s $9.33 million, or Foundation’s $9.93 million, Hic et Nunc is definitely on the right track. Many artists turn to the Tezos-based marketplace because of the option to list cheaper art pieces. Conisdering this, $2.75 million in volume in just 30 days is impressive.  

In fact, if we look at the number of unique active wallets, the gap between the three is not that significant. Interestingly, Foundation is last when comparing this metric – it has only 7.7k unique active wallets, a 13.6% decrease compared to the previous month. 

Next up comes Hic et Nunc, with 13.84k unique active wallets in the past 30 days, representing a 13% increase. This is double what Foundation attracted, but almost 50% less than Rarible’s 22.3k unique active wallets.

It’s still very early to predict whether the positive trend will continue for Hic et Nunc. However, it is impressive to see that this is the only marketplace to output growth in the number of unique active wallets over the last thirty days.

One of Hic et Nunc’s biggest advantages over the other two marketplaces is the idea of cost-effective art. Because of the underlying Tezos blockchain, the marketplace allows users to trade easily and with lower costs. Foundation and Rarible are notorious for the huge gas fees associated with the Ethereum blockchain. Even if gas prices have been somewhat lower in the past couple of weeks, these marketplaces still suffer from relatively high fees

Hic et Nunc’s design is another huge plus for the platform. With extremely simplistic features, structured like a command prompt window, the marketplace is easy to navigate. And of course, we should not forget the novelty and FOMO factors currently at play for the new Tezos marketplace. We’re curious to see if this new marketplace will continue performing in the same fashion over the next few months.