State of the Artist (Q4 2023): One Year of Colorful Abstracts
[This article is a cross-post from my blog on Nuance]
From October 3-5, 2022, 50 Colorful Abstracts artworks were minted on the Internet Computer blockchain at prices ranging from 2.5 to 4 ICP (depending on whether someone was invited to the 12-hour private sale or purchased during the 48-hour public sale. The sold-out collection has now been traded for over one year with a total aftermarket volume of 91.29 ICP.
I would like to take this opportunity to thank all of the collectors of my artwork!
Please allow me to share some insights regarding the one-year-old art collection as well as the artworks I am currently working on.
The Colorful Abstracts Collection Celebrates Its 1st Anniversary
I’d like to start by sharing a few facts and figures about the Colorful Abstracts collection:
There are 39 unique wallets holding the 50 NFTs in the collection. I personally hold one, which means there are currently 38 collectors. No one has more than 5 NFTs from the collection in their wallet.
The floor price at the time of writing is 7.95 ICP. The minting prices were 2.5 ICP for the private sale and 4 ICP for the public sale, so all the original minters are currently in the green.
The all-time high sale is 9 ICP. This occurred on October 15. The NFT had been held for 375 days and was minted in the public sale for 4 ICP. This represents a CAGR (compounded annual growth rate) of 121.7% in ICP. Due to the decreasing value of ICP, it represents a 16.2% CAGR in USD. According to artmarket.com, the prices of art decreased by an average of 18% during 2022, though blue-chip artists actually saw an increase of 3%. This places the Colorful Abstracts collection well ahead of the art market in general.
All-in-all, it has been a very successful launch and first year for the art collection, especially during a year when a bear market ravaged crypto and NFTs, and even the physical art market was not left unscathed. What can my art collectors look forward to? Here is an update on my future projects.
Upcoming Art Collections
Thanks to the complications of moving overseas, all of my art collections have been delayed (as you can see by the fact that I was supposed to launch three collections in 2023, and so far, I’m at zero). Here is a progress update on the collections.
Raining Colors – Raining Colors is the follow-up collection to my Freehand Ovals collection on Polygon. Freehand Ovals are still available on OpenSea. I will release a separate article with more information on the Raining Colors collection soon, as it is the most likely collection to launch next since it is almost half completed.
Neurodivergent – This will be my sophomore collection on the Internet Computer. I’m trying to determine how best to reward Colorful Abstracts holders (private sale for sure, but possibly airdrops as well). The 250 AI artworks that make up the foundation of the Neurodivergent collection have been completed. However, I am only about 1/3 of the way adding the hand-drawn elements. I hope to launch this collection in early 2024, so watch for an article with more details later this year.
Colorful Abstracts 2 – I’ve been creating some artworks that didn’t really fit into the other collections, and I realized it was time for another Colorful Abstracts collection. I will likely wait until there are at least 50 artworks to launch this collection, so you can expect it later in 2024.
This Is Sicily – My first photography collection is continuing to come together, but right now, everything is up in the air. Photography NFT sales have been slow on ICP lately, so I may have to consider making this my first collection on ETH. It will all depend on the state of the market when the collection is ready. In the meantime, you can find some of my earliest photography NFTs in the Travel Photographer collection on Polygon.
Untitled Collection – I’ve recently created a number of still-life artworks using my abstract style. There may be a stealth launch coming...
That’s everything I have in the works for now. I know there are a lot of unknowns, but I keep putting previews out there on Taggr and X. So keep watching for more news, and don’t forget to collect from my existing NFT art collections while you wait.
Current Art Collections Available for Sale
Here are links to all of my current art collections: