Why are these Pixelated Feet NFTs Pumping?

Some of your NFTs may be losing value at this time, but you know what’s not losing value: Feetpix.wtf. Feetpix is a new NFT collection of 10,000 free-to-mint foot pictures that sold out on Sunday. The collection managed to accumulate 778 ETH in volume, surpassing blue-chip collections like BAYC on the day of launch. Here’s what you should know about the ridiculously comical collection:

On January 8, 2023, the Feetpix.wtf collection sold out and became the 5th most-traded collection on Opensea on Tuesday. The collection has currently done 778 ETH in volume or about $1 million, over the course of only three days. Further, Feetpix’ floor price hit a high of 0.135 ETH before it lost some momentum. However, its volume has increased 88% in just the last six hours alone, resulting in a 0.087 ETH floor price.

What’s causing this surprising yet predictable pump? It’s surely not the utility or roadmap of the collection since, funny enough, neither exist.  “0 roadmap, 0 promises, 0 marketing, 0 paid influencers, 1 common love of feet,” Feetpix tweeted. Perhaps owners adored the perfect placement of pixels that make up each of the collection’s NFTs. Or maybe “degen season” is back and stronger than ever.

All in all, the Feetpix collection is everything you expected it to be. It’s nothing more than a humorous collection of a wide variety of unique digital foot pictures with a range of peculiar attributes. The NFT community on Twitter had a lot to say about the recently trending collection. Nevertheless, it’s difficult to say whether this is a bearish or bullish sign.

of course a feetpix NFT is trending on OpenSea. And of course some of those feet have a cigarette between their toes. what else should we expect? pic.twitter.com/JwgUW3i9w4

— NFTstatistics.eth (@punk9059) January 9, 2023