First things first what is HEN? Hic Et Nunc, This is a clean NFT Marketplace built on the Tezos(XTZ) Blockchain.
HEN is not your typical Marketplace, Its a buggy Platform with one of the strongest community you’ll see online. The twitter “cult” the platform has amassed is nothing short of impressive.
There’s a very simple cycle on the platform, Mint -> Sell-> Buy-> Mint-> Sell-> Buy. A never ending cycle that makes it possible for New faces to sell On the platform. Another Factor that distinguishes HEN is PRICE.
You go on Open Sea, Rarible, FND etc and you see the typical NFT Selling for ~$100+ very few NFTs are less. But on HEN its the complete Opposite. Most of the NFTs on the platform Sell for 1 to 10 tez. Sure there are some 50 tez + NFTs on the platform but is not as much as the 1 tez ones. A tez cost <$5. Thats considerably cheap for a lot of the dope Pieces that drop on the platform. Another Notable point is editions. On most mainstream NFT Marketplaces 1/1 are a common scene and 100/100 are a rare scene. On HEN Thats the order of the day. 1/1 aren’t as popular but 10/10, 33/33, 100/100. 200/200 are quite a common sight.
The multiple editions covers up for the low prices, As the artist can charge a dollar for a 200/200 piece and if all sells he gets $200.
Should you be worried about the editions?
Yes and No, If you are the collector who is really just testing out the space or looking for some cool work and not overly concerned with scarcity then you have nothing to worry about but if you are exclusivity concerned and really want rarity then yes. At the end of the day comes down to your taste.
SHOULD YOU USE HEN?
Personally i recommend HEN to any artist struggling to get his/her first sale (HEN is a good place to get your first sale) For experiments we went undercover and created an HEN Account minted an NFT For a tez and without a single tweet or promotion it sold within 30 Minutes. We then decided to Mint another and same thing happened sold within 2 hours Without Promotion. So Yes most definitely Sign up for HEN and give it a try Its Never a bad choice.
NOTE: The two Tez from the Sale were used to purchase 3 random Artists NFTs :)
Although beware lately it’s becoming a little less decentralized. (LINK)