Market Update: 'Pre-Process' Up 20% in Post-Mint Trading
Today's Art Blocks Curated project "Pre-Process" by Casey REAS is up ~20 percent from the resting mint price after 3 hours of post-mint trading.
The project with just 120 NFT supply minted out at 4.78 ETH and is holding at 5.74 ETH this afternoon.
Pre-Process was notable for two reasons: 1) this is Casey REAS's second Curated collection, making him the first artist to launch a second solo Curated project, and 2) the supply of 120 is now the lowest in the history of Curated releases.
With the low supply, expectations were high for where this might mint out at, and it did not disappoint. The 4.78 ETH mint price is the highest in recent Curated action and for all of 2022, with just a handful of projects minting above that price back in the peak summer '21 bull run.
The set has seen top-end sales of 8 ETH and several at 7 ETH, and it has seen 362 ETH in total volume. A few other key metrics:
- Percent listed: 40%
- Owners: 92
- Unique owners: 77%
- Market cap: 688 ETH ($878,220)
Casey REAS's first Curated collection, Century, holds a 2.6 ETH floor with a 1,000 NFT supply. This represents an implied market cap of 2,600 ETH (~$3.3M), thus the set is nearly 4 times as expensive as Pre-Process on a per-NFT basis.