ICI

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2.3¢ icandy interactive limited

Wrong The market sentiment is the reason, whole marketInterest...

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crazydave1942

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04/05/22

19:11

Post #: 61208656
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Originally posted by frontline1999: ↑

The sell-off is reflective of the steep declines in NFT/blockchain gaming sales volumes. The stats have been known for a while, but now the big media outlets are publishing bearish stories.

NFT sales fell to a daily average of about 19,000 in May, a 92% decline from a peak of about 225,000 in September.

You only need to take a look at the flagship gaming/metaverse tokens (Axie, SandBox, Decentraland etc down 60-80%) to appreciate that interest has cooled. Compounding matters, speculators sold NFTs/tokens to raise funds for the BAYC land sale. Even though the 1 day land sale generated a record US$300m, over US$160m was wasted in gas fees of unsuccessful bidders. Sentiment has soured as the proportion of bag holders increases.

It's a case of riding out the storm, which could last for several months, although a lot of people are now starting to realise that the majority of NFTs were never investment grade in the first place (in-game NFTs dont fall into this category as they provide utility).

I'm not sure that the buy-back is a smart strategy. It was actually wasteful to buy-back above and around the cap raise price as there's no case for claiming that they've been purchased at a steep discount). The $4-5m used so far could have been better utilised to acquire more companies, especially as loss-making private companies can now be snapped up at a big discount.

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Wrong

The market sentiment is the reason, whole market

Interest rates going up, war, cost of living all just panic.

ICI Price at posting: 10.5¢ Sentiment: Hold Disclosure: Held
3 Upvote

0 Great analysis

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(20min delay)
Last 2.3¢		Change 0.000(0.00%)		Mkt cap ! $29.44M

Open	High	Low	Value	Volume
2.4¢	2.4¢	2.3¢	$3.572K	153.0K

Buyers (Bids)

No.	Vol.	Price($)
3	1519334	2.2¢

Sellers (Offers)

Price($)	Vol.	No.
2.3¢	99999	1

View Market Depth

No.	Vol.	Price($)
3	1519334	0.022
6	762619	0.021
4	277350	0.020
1	50000	0.019
5	451055	0.018

Price($)	Vol.	No.
0.023	99999	1
0.024	257543	3
0.025	152228	2
0.027	39960	1
0.028	806000	1

Last trade - 15.52pm 04/10/2024 (20 minute delay)

ICI (ASX) Chart

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