Power Rankings Review | Memeland Rising
The Lucky Trader Power Rankings uses a set of weighted attributes to curate a full set of numbered rankings for NFT projects across blockchains.*
Every week we'll take a snapshot of the rankings and review the movement from the week before as a result of the latest news, trades, and more.
*Full details on our weighted rankings can be found at the bottom of the Power Rankings page.
After a data-cleansing hiatus, the Power Rankings Review returned last week, and yes, Bored Apes still reigned supreme with CryptoPunks not far behind.
Check out last week's review here.
The top 10 overall saw literally no change in a week of sideways NFT action. One item of note that I didn't point out last week was that despite a handful of notable Fidenza sales (one sold for 350 ETH this weekend), Mutant Apes maintain a position one ranking spot higher than Tyler Hobbs' collection. This is where I have to insert the obvious cavaet that our ranking algorithm is not perfect, and some of the rankings weighting is given to monthly volume as a means of updating with new metas and popular/relevant upticks in short-term trading.
This feels like one of those examples where the consistent volume churn is outweighing the provenance and prominence of the top Art Blocks Curated collection.
Further down in our rankings, there was more movement.
PROOF Fights Back
PROOF Collective Passes are up two spots to No. 18 overall in our rankings, amidst a major update from co-founders Kevin Rose and Justin Mezzell. The TL;DR for PROOF Pass holders? No major change until 2025, at which point passes will become Moonbirds Elders - joining forces with the Moonbirds ecosystem.
The last few months have been quite volatile for PROOF and sentiment has been at an all-time low. I suspect that in the short-term, more holders will shakeout amidst PROOF's recommitment to art and in the few days since the announcement that seems to be the case, with the floor price falling slightly to 16.29 (from around 17 ETH at the time of announcement). Oh by the way, you can check the floor price against notable announcement and news using our news graph feature.
Last week I made a note of Captainz subtle increase up the rankings. I'd be remiss if I glossed over the major leap that "You the Real MVP" has made, up to No. 13 in our overall rankings.
I wrote earlier today that Memeland is one of the only NFT ecosystems that keeps finding innovative ways to reward its holders, as evidenced by its decision to reward Captainz questers with around $46,000 monthly in $APE staking rewards that the company is earning. Some short-term royalty FUD has subsided, but look at this chart from the last month, in which Captainz posted a 42 percent gain. Captainz holders must be feeling good. The collection is up three spots to No. 21 overall. Not to be left out, Potatoz, the last of the Memeland collections are up three spots to No. 38 overall.
Yawn. Another week with basically no change in our PFP rankings. Captainz is up two spots to No. 12 overall, overtaking Grifters by legendary digital artist XCOPY.
A scroll to page two showcased some more interesting movement though.
Pandas Quietly Winning
Kanpai Pandas have grinded up to a near 2 ETH floor and landed a knockout punch this weekend (not literally, but kinda close) when brand ambassador Jon Jones returned victorious in his UFC bout. While the collection is relatively flat since the announcement, the last year shows a healthy and steady grind up. The Pandas sit at No. 31 overall in our PFP rankings, up three spots this week. With NFTInspect now shuttered, it's difficult to gauge community use in a fair way, but anecdotally it feels like 31 may be low for the reach of Kanpai Pandas, notably spearheaded by Crypto Twitter.
Fidenza has gotten a lot of love recently, but Tyler Hobbs' collection Incomplete Control has gained control of rankings momentum, rocketing up 18 spots to No. 8 overall in the Art category. An Art Blocks Playground set from Dec. 2021, Incomplete Control boasts only 100 pieces compared to 999 for Fidenza. The collection nothced a sale of 55 ETH this week, sending the floor price up to 65.5 ETH in the process. You can learn more about it and all of Hobbs' work in our artist guide.
Help Us Improve the Power Rankings!
Power rankings updates are finally back thanks to improved data and efficiencies on our backend, but that doesn't mean we can't improve them even more!
We are actively reviewing our existing categories and recategorizing a variety of projects to build the best set of NFT Power Rankings around.
If you have feedback about a particular category ranking you'd like to see, or input about a project that seems out of place, please let us know by sending a direct message to @LuckyTraderHQ on Twitter!
Want to see how things shake out next week? Be sure to follow our Power Rankings and look for this column each week. Furthermore, be sure to download the Lucky Trader app to stay updated on all things NFTs!