LT;DR Jan. 26 NFT Recap: FOMC Meeting, KCG & Shields Drop

Top News Today:

• FOMC Meeting

• Kitty Crypto Gang Drop

• Shields Drop

• Top Movers

FOMC Meeting

Today the Federal Open Market Committee had a meeting regarding the upcoming year and interests rates. Although the FOMC has signaled it is very likely to raise rates multiple times this year, the first rate hike will not be happening this week. Fed Chairman Powell said “It really is time for us to begin to move away from those emergency pandemic settings to a more normal level." The interest rates have been near zero since the middle of the pandemic, but as unemployment continues to slow and inflation grows, an increase was expected as we saw markets across the board pullback leading up to the meeting. Although the interests rates will be rising after six weeks, the chairman indicated this hike will not be any larger than normal.

Kitty Crypto Gang Drop

Kitty Crypto Gang sold out their 7,997 NFTs this afternoon. The project minted at 0.25 ETH each, burning over 85 ETH in the minting process. Since selling out, KCG have had an impressive 3,000 ETH in volume with the floor at 0.7 ETH. KCG is made by @NicolasMorel_cg & @Comes_Amandine, who have both done work with Netflix and HBO. 

Shields Drop

Shields, from Area Technology, sold out 5,000 editions of its Shield Badges today. The mint price was 0.2 ETH and has since had an impressive afternoon with over 1,900 ETH in volume rising the floor to 0.8 ETH at the time of this writing. Shields is an on-chain heraldic design system where each Shield is composed and built by the holder of a Shield Badge. All components are stored as SVG code on Ethereum. and holders will be able to build their Shields on Jan. 27 at noon ET through the Shields website: shields.build.

 

• Azuki with a $1 million sweep, leads our rankings page with 6,073 ETH in volume with a floor rising 62%. 

• CryptoPunks down in volume after leading the rankings page back to back days by 55%. 

• Mutant Ape Yacht Club takes over for Bored Apes, hitting an impressive 4,200 ETH in volume today up with a floor price just under 20 ETH. 

• Check out Lucky Trader's full NFT project rankings here. 

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