Murakami Flowers - Murakami returns to his roots

Murakami Flowers – Murakami returns to his roots

Murakami.Flowers is a collection of 11,664 NFTs by artist Takashi Murakami

In the May 2022 issue of DappRadar’s New Dapps Report, we take a look at popular and interesting NFT groups, and this time we cover Murakami.Flowers Official. The new Dapps report serves as an executive overview and analysis of financial metrics for NFT groups.

This new Dapps report is part of a series of executive reports that provide readers with a high-level perspective on promising randomly generated NFTs. The report focuses on financial metrics, including sales activity and price analysis, and distribution metrics such as the percentage of unique holders and the whale concentration index. In addition, it delves into the behavioral patterns of whales and their social and technical outlooks.

Takashi Murakami is a visionary Japanese designer and artist who is no stranger to NFTs. He’s previously built the highly successful CloneX suite using RTFKT (which we covered in Dapp’s January issue). This time around, Murakami ventured into creating a much more personal set of 11,664 NFTs in the “Super Flat” visual style, which he pioneered. He continues his distinguished tradition with Murakami.

Please do not consider this document as financial advice. Data last updated on: 12 May 2022

table of contents

main socket

  • Murakami.Flowers is the 11th most traded group in the past 7 days, with a total volume of over $18 million in sales and a total volume of over $113 million in less than two weeks
  • The set’s lowest price has risen more than 3,696% since it was minted on May 4

Murakami Flowers – Base Price Growth by 3,696%

Blockchain: Ethereum

Lunch date: May 4, 2022

version size: 11664 – Limited Edition

Features: 10

The qualities: 432

lowest price: 4.1 ETH

Murakami: Flowers generated nearly $20 million in sales in its first week. Despite the subsequent decline in daily trading volumes, overall volume continues to rise. Murakami.Flowers is the eleventh most traded group in the past seven days, and the seventh most traded group in the past two weeks with a volume of over $113 million. The lowest price is up, which is currently 4.1 ETH 3696% from the price of mint. The average price rose sharply in the first week, reaching as high as 10 ETH and dropping in the following days to 5.18 ETH at the time of writing, which is a 4,696% hike from the mint price.

Bonus Benefit – Strong visual appeal but blurred roadmap

Murakami.Flowers has released its post-launch support plans on its official website. In the words of Murakami, the goal of the group is to connect the traditional art community and the new digital art community of NFT. He aims his art to stand the test of time and survive for the next 100 years. Murakami undertakes to release an online video game, realistic exhibits, and various merchandise associated with the collection. The project will eventually pass to DAO. Murakami Flowers roadmap is not completed. The collection is still in its early stages, and things are subject to change. At the time of writing, there are no other utilities associated with the suite other than the aesthetic visual component.

Social awareness and participation

Murakami.Flowers do not have social channels normally associated with NFT projects, such as a Discord server or Twitter account. The project has an Instagram account with over 147,000 followers and is used to post promotional art for the group.

Murakami Flowers has a total of 1,875 unique traders, which is a relatively low rate compared to its previous project, CloneX, which had 9,444 unique traders. The group saw a lot of hype, as is usual on release day. However, perhaps due to the lack of the usual social channels and direct line of communication with the community, reference to the group has declined severely.

Team overview

The project is being developed by Takashi Murakami and his production company Kaikai Kiki Co., Ltd.

glimpse

Like most NFT projects, Murakami.Flowers stores its metadata using IPFS rather than the entire string. This type of storage is popular among NFTs, as it is too data-heavy to store the entire visually rich project on-chain. Although there are no known technical issues associated with the project, it is always advisable to be careful, especially due to the development team’s lack of transparency and their experience in managing NFT projects.

  • Audit status: No audits have been performed yet
  • storage: NFTs are stored as ERC-721 tokens on the Ethereum blockchain, and live visuals on the immutable proprietary IPFS.

whale wallet analysis

Murakami.Flowers currently has a unique ownership percentage of 38%, indicating a relatively concentrated group. A lower ratio indicates a higher susceptibility to sudden price changes. at 2.15%, the concentration of whales is very low. The higher concentration of whales indicates an increased risk of price manipulation by prominent group owners.

One notable whale, 0xcspr.eth is among the top five. They have 41 flowers, or 0.56%. The light involvement of notable whales indicates that the group is at low risk of price gouging. Their absence sometimes also shows the group’s lower financial attractiveness. Prospective buyers are always advised to exercise due diligence.

summary

Takashi Murakami has established himself as an influential artist working in the traditional art industry for over 29 years. His first project in the digital world of NFTs with RTFKT was very successful and their collaboration led to the CloneX project.

Much like CloneX, Murakami.Flowers performed very well. The group totaled more than $113 million in less than two weeks. The set’s lowest price has risen more than 3,696% since it was minted on May 4. The highest sale occurred on Mint Day, where flower #9125 sold for 100 ETH/242,2008 dollars.

Murakami undoubtedly had a good track record in the past. His pieces of art were highly praised by critics and also performed well financially. One of his pieces, Lonesome Cowboy, sold for $15.1 million at Sotheby’s in 2008 ($19 million at today’s prices), and buyer CloneX bought it for 450 ETH/$1.2 million last February. However, it is uncertain whether he has the necessary knowledge to run the NFT project independently. Some of the usual features like the official roadmap, social channels and the announced development team are missing.

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