Market Update: 'Light Years' Soars in Early Trading
Dmitri Cherniak's latest project "Light Years" has surged 41 percent in early secondary trading this afternoon on OpenSea.
The project completed a fair Dutch auction for its mint passes earlier this afternoon with a final mint price of 22 ETH. The floor has since surged to 31 ETH on the back of 436 ETH volume. This puts the project market cap at just 3,100 ETH, a fraction of some of Dimitri's early work.
It was difficult to project where Light Years would mint, given its low supply of 100 NFTs and current bear market conditions, but most expected it to go relatively high. Dmitri's iconic Art Blocks genesis project, Ringers, holds a 65 ETH floor with 1,000 supply (65k ETH market cap). His second collection, The Eternal Pump, has a whopping 275 ETH floor (13.75K ETH market cap), though the last trade was for 215 ETH six months ago.
Dimitri has also shared new details for the mint pass holders, sharing that they will be able to select a piece of their choosing according to a schedule on this site. The mint pass redemption will start on Dec. 5 at 10:00 a.m. ET.
You have a Light Years selection pass - now what?— Dmitri Cherniak (@dmitricherniak) December 1, 2022
Each pass is associated with a time slot, where the holder can pick their artwork. The lower the pass ID, the earlier you get to pick. Here's where you can see your time slot, and pick your artwork:https://t.co/JfDXrkdDjV pic.twitter.com/WKQIvrFnOo