gm NFTs Feb 15: Super Bowl Hangover, Real Estate NFTs
Top NFT News Today:
- Super Bowl Hangover leads to second lowest daily trading volume day on OpenSea in 2022
- The First Real Estate-Backed NFT Is Minted
- Cereal Club Makes Its Debut
Super Bowl Hangover
After an amazing Super Bowl finish, but an amazing lack of NFT inclusion in ads or the halftime show, the NFT markets took an extra long snooze on Monday. Overall OpenSea NFT trading volume came in at just $97mm, the second lowest daily total in 2022 (and down 50% from the weekend volume).
But there were some winners in Monday’s action:
- Azuki stormed back to a 14 ETH floor after 2700 ETH traded along with some big midtier and top end sales
- NFT Worlds popped 26% to a 7.9 ETH floor
- Psyhedelics Anonymous surged 33% to a 4 ETH floor
First Real Estate-Backed NFT
It was reported Monday that a Florida home was auctioned as an NFT, selling for $653k worth of ETH, with the winning bidder holding the home’s property rights minted as the NFT. This appears to be the first example of this NFT use case executed in the US.
The sale was facilitated by a blockchain real estate startup called Propy. The CEO of Propy, Natalia Karayaneva, stated “This is just the first seller in our pipeline and we’re seeing a lot of demand.”
There will be much regulatory red tape to work through before this process is streamlined and mainstream-ready, but certainly a great step forward in a tremendous use case for NFTs and crypto.
Cereal Club Preview
One of the most anticipated new project drops of the week is Cereal Club, which starts its public dutch auction sale today at 8 pm EST.
The project has caught a lot of attention over the past few days, first by announcing two new members of their board of advisors coming from Snapchat - John Imah and Jeff Miller. John is the current Global Head of Partnerships and Games at Spapchat and Jeff is the current Global Head of Creative Brand and Strategy.
The project then announced it’s general vision in a pinned tweet from February 11, which includes the following highlights:
- Cereal Club Cereal Line
- Augmented Reality Labs
- Merch Collabs and Metaverse Integrations
The 10,000 supply will be split into different tranches, with 7500 available for the public sale dutch auction which starts at 0.5 ETH. The allowlist sale will follow tomorrow at half of the final Dutch auction price. Any remaining supply will be left for a final public sale, at the allowlist price.
Editor's Note: On Tuesday morning the prominent NFT Twitter account, NFTEthics, released a statement regarding Cereal Club's affiliation with Squiggles and the potential that Cereal Club is a scam or rug. Lucky Trader was unable to independently verify the accuracy of the claims ahead of the project's mint. Please use caution and do your own research prior to participating.
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