gm NFTs Feb 4: OpenSea Fixes, Art Blocks Back?
Top NFT News Today
- OpenSea listings fix
- Art Blocks back?
- New projects rise, anime sinks
OpenSea Addresses Inactive Listings Issue
On Thursday afternoon, OpenSea posted a brief twitter thread explaining its response to the inactive listings issue which led to several BAYC assets (amongst others) being sold well below market value.
In our continued effort to address the inactive listings issue, we’ve initiated an upgrade to the smart contract we use. This upgrade will ensure old, inactive listings expire and allow us to offer new features to prevent this issue in the future.
— OpenSea (@opensea) February 3, 2022
In their post, they promise an upgraded smart contract with two primary features:
- bulk cancellation: the ability to cancel all your listings in a single transaction (and apparently, also cheaper)
- more clear language related to wallet signatures, providing users better information on what they’re signing
The upgrade is estimated to take 15 days, and at that point, an action will be required from users to perform a one-time migration. There is no immediate action to take.
Art Blocks Back?
After several months of declining floor prices and new projects failing to mint out, sentiment naturally turned sour against Art Blocks overall. But recently, there’s been more chatter about a turn-around possibly coming soon.
We saw our first taste of that on Thursday! It started with Hideo’s project “Legends of Metaterra” minting out in a gas war, with the 0.025 ETH NFTs selling on primary for an adjusted 0.3-0.4 ETH with gas. Secondary then surged to 0.6 ETH after Hideo announced a plan for a game including the Legends characters. His other projects “mecha suits” and “celestial cyclones” each saw an uptick in sales as well.
Then, the Curated project from this past Monday, “Screens” by Thomas Lin Pedersen, saw its floor surge to 3.6 ETH on strong secondary activity led by Grailer’s DAO who picked up at least 40 different pieces.
Is Art Blocks officially back? Too soon to tell, but certainly volume is picking back up and projects are in the green.
Market Update - Anime Sinks, New Projects Rise
Overall NFT trading volume has held strong even with some pull back in floor prices, as Wednesday saw $182mm and Thursday $180mm. A few notable highlights:
- Anime projects sink, as each of Azuki, Zipcy’s Supernormal, Lives of Asuna and The Killer GF see their floors sink 10-20% in daily trading.
- The latest metaverse project Turf Plots sell out its collection of 5,041 plots in the “ultraverse” in the presale, ahead of Friday’s planned public sale. The floor price is 0.619 ETH (well above the 0.07 ETH mint price).
