Japanese NFT News: 2022/08/25

Japanese NFTs

The Japanese NFT market is still in its infancy…but for how much longer?

Last week, I talked about a business influencer, Kamogashira, entering the NFT space, as I thought that his move could have a noticeable impact on the Japanese market. He has more than one million followers on his YouTube channel (you can read up on the last week’s news here).

Interestingly, we have started to see the effect already.

Taking the CNP collection as an example, I would like to give you an idea of how Kamogashira’s move is starting to change the Japanese market.

After announcing his entry by changing his icon to Clone X, Kamogashira tweeted that he had purchased CNP (CryptoNinja Partners) as his first Japanese generative NFT. CNP is the largest generative collection by market capitalization in Japan.

This tweet attracted a lot of attention in the market, and as a result, the CNP’s floor price started to rise.

Source: OpenSea (CNP Floor Price 24-08-22)

What’s interesting is that the CNP’s number of wallets started to increase suddenly after Kamogashira’s original announcement on 15 Aug.

Source: NFTMarketCap.jp (CNP’s number of wallets)

Just like most other collections, CNP had been affected by the global bear market, and its floor price was in a downtrend as it struggled to increase the number of owners. However, after the announcement, the trend changed and it started to attract new buyers, gaining more than 100 new wallets in a few days.

I have been monitoring the wallets of buyers, and interestingly, I spotted some completely new investors purchasing NFTs for the first time. And I’m starting to see more new investors buying their first NFTs as the days go by.

This movement reminded me of what happened in the global NFT space a year ago – the summer of 2021. As more influencers and celebrities entered the NFT space, they attracted new investors. As a result, the market grew exponentially.

The Japanese NFT market is still in its infancy – similar to how the global market was in early 2021. In this type of environment, the move of one influencer can change the trend completely.

It is still too early to say if other Japanese influencers and celebrities will follow Kamogashira’s move, but I feel that it is highly likely.

If so, what might happen to the Japanese NFT market?

I’ll keep you updated!

Full disclosure: I own CNP NFTs at the time of writing.

Upcoming Mint Schedule

NounSNUG

  • Pre-sale: 26 August
  • Public sale: 27 August
  • Twitter: https://twitter.com/SNUG_official
  • Discord: https://discord.gg/RUA47pmDyh

AZITO

  • Pre-sale: 27 August
  • Public sale: 28 August
  • Twitter: https://twitter.com/AZITOofficial
  • Discord: https://discord.gg/azito

WAFUKU Gene

  • Pre-sale: 28 August
  • Public sale: 28 August
  • Twitter: https://twitter.com/CryptoWAFUKUNFT
  • Discord: https://discord.gg/wafuku

The content is for informational purposes only. Investment/financial opinions expressed by Web3 Zen.com are not recommendations. As always, please do your own research prior to making any investment decisions.

 

 

 

 

 

Related Articles

ICL
What is ICL ? – No.1 NFT Alpha Group in Japan

In the global NFT space, alpha groups have played a key role in the expansion of the market. Alpha groups allow their me[…]

ICL
ICL Update : Building a New Culture in the Japanese NFT Market

There has been a lot of discussion regarding the concept of "Gachiho" in the Japanese NFT space. Literary, Gachiho me[…]

CNP
A Guide to CryptoNinja Partners (CNP): What Are These Collectible NFTs From Japan?

Just a few days after its launch on 15th May 2022, CryptoNinja Partners suddenly appeared in the global NFT space. Altho[…]