Sui blockchain’s recent launch has generated significant trading activities, especially in the early Sui NFT projects. Following the mainnet’s launch last week, an active community of NFT enthusiasts has emerged, with marketplaces releasing projects that have completely sold out.
The NFT community is showing particular interest in Fuddies, which consists of 10,000 Sui profile pictures (PFPs) featuring cute cartoon owls in various poses and styles. These NFTs were initially offered for 95 SUI (about $125) to pre-launch allowlist users, with the public sale starting as a Dutch auction format. The price gradually declined from the initial price of 300 SUI (about $395) to 150 SUI (nearly $200) before selling out. However, the Clutchy marketplace, which hosted the sale, experienced technical difficulties after the mint, leading to criticism from collectors and traders.
Despite the initial hurdles, the Sui blockchain is gaining traction among traders. However, it is too early to determine whether the network will experience continued growth or cooling of the initial hype, as seen in other networks like Aptos and Near.
Clutchy is one of the popular Sui NFT marketplaces, but it is not the only one in existence. Souffl3, which originated on Aptos last fall, has also expanded to the Sui network. However, its most significant project, Sui Trident, has not achieved massive success.
Despite this, several projects, including Fuddies, Suishi, Depthos, and Sui G00dies, have launched and sold out on Clutchy. Nevertheless, the current price floor for Sui Trident has fallen below the public mint price, with the cheapest-listed NFT in the project priced at 118 SUI (about $155).
According to Jacob “Dizzy Lizzy” Lawless, the founder and CEO of Clutchy, the marketplace received high interest from influencers, investors, creators, and spectators ahead of the Sui launch. Creators are eager to launch projects on a new blockchain, while astute collectors seek to acquire early provenance assets, potentially increasing their value in the future. Sui’s creators are thrilled about the network’s potential to enable more advanced features than other chains, including dynamic NFTs that update in real-time.