Morning Minute | A Trio of Updates
GM!
Take a minute to catch up on the latest in the Web3 space with today's NFT market analysis, top movers, and upcoming mints:
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Logie's Market Summary
Doodles, Cool Cats, and Moonbirds were all once darlings of the NFT market...but the trio of projects is among the most damaged since the bear market took hold of NFTs.
I don't need to show you the big red negative numbers to make an impact. I think these current floor prices will do the trick perfectly.
- Doodles: 2.35 ETH
- Cool Cats: 0.82 ETH
- Moonbirds: 2.22 ETH
It would be easy to join the party stomping on the graves of these projects and laughing at all the blunders of their respective teams. It would be even easier to "x" out of all their project updates and announcements.
But if you would have done that, you'd have actually missed three quietly important announcements from the projects over the course of the last few days. And in the absence of other notable events in the space I'd figure I made sure you got the chance to see them.
Doodles' Stoodio
Doodles generated a ton of excitement when it first dropped its Dooplicator announcement and claim in May of last year. In fact, shortly after the claim started the Dooplicator floor price (2.875 ETH) was higher than the price the original Doodles NFT holds now...but it was a different market then.
Anyway, despite bubbling up more excitement over the course of last year, delays and poor communication started to turn things in the wrong direction. Sentiment started falling...and then well, Poopie said that thing. You know the thing about not being an NFT project?
But Doodles is still an NFT project, and it's still doing NFT things, including launching the beta version of its Doodles' Stoodio which is expected to take place later today.
The project hasn't shared anything official about the Stoodio, but it's expected to be the "home for all new Doodles experiences," including the custom building of Doodles 2 NFTs. I'm certain more details will be released later today, but I'm guessing you'll need a beta pass in order to make use of the Stoodio at launch. You can grab one on secondary for $30.
Cool Cats: Journeys Season 2
The Cool Cats ecosystem got an expansion last week, and yesterday the project announced that its succesful community engagement and activities, Journeys, will get a second season.
The project has been quietly building its IP in the background over the last few months and made a notable move when it partnered with Futureverse, which included a small equity swap as well.
Maybe it was from the learnings or frustrating experience of building Cooltopia, but it seems the project has fully committed to building characters, and not technical applications.
Perhaps the biggest update here is that the project is now done to just one of its founding members. In the last week Tom and Lynq both stepped away from daily activities, joining Evan Luza who previously stepped away to work on Ghost Boy.
Moonbirds: Diamond Exhibition
Last but not least, Moonbirds has been in the spotlight in the last 24 hours with its Diamond Exhibition claim. The Diamond Exhibition was initially announced during PROOF's major ecosystem update, in which it doubled down on its commitment to art and making Moonbirds the "Art Collector's PFP."
And while the claim may have initially started as a positive experience for many who had the opportunity to grab works from artists like Beeple or Dirty Robot...those with multiple claim passes spoke out about a lack of randomness on redemption.
As a result, Moonbirds is now building a new smart contract to allow holders to exchange works from the Diamond Exhibition for a new piece.
Just when I felt like PROOF was starting to stack small victories...it seems they take another step back.
🚚 What Else Is Happening in NFTs?
Here is the list of other notable headlines from the day in NFTs:
- Trading volume came in under 10,000 ETH on Thursday, another notable down day. OS Pro captured 8% share, with Blur gaining a few percentage points to 61%.
- Non-custodial staking for DeGods and y00ts went live.
- RENGA released a handful of updates and promises to communicate outwardly more frequently with its new RENGA Report.
- OnChainMonkey released details of its upcoming Bitcoin NFT drop, 300 members of public will be selected for allowlist.
- Cool Cats announced Season 2 of Journeys, and another founding member steps away.
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
- The crypto market gained slightly on Wednesday; BTC up 1.1% at $29,300; ETH 1.5% at $1,912.
- CoinDesk's Consensus Conference kicked off in Austin, TX. Lucky Trader's Tyler Warner hosted a panel!
🚀 NFT Total Volume
- Azuki (1,304 ETH, 14.99 ETH Floor)
- MAYC (940 ETH; 10.87 ETH)
- DeGods (647 ETH, 7.99 ETH)
- BAYC (641 ETH, 49.79 ETH)
- Moonbirds (609 ETH, 2.39 ETH)
📈 NFT Floor Price Increase
- Finiliar (55%, 0.22 ETH Floor)
- Bond Bears (23%, 22.81 ETH)
- OnChainMonkey (14%, 1.67 ETH)
- Pixelmon (11%, 0.98 ETH)
- Consortium Key (5%, 2.97 ETH)
🗓 Upcoming NFT Mints and Reveals
After a major day of drops, things are quieting down heading into the weekend.
- Nina's Super Cool World Art Print (10:00 a.m. ET)
- Quiet Quarry Runway by Stephy Fung (1:30 p.m. ET); 0.02 ETH
- Doodles Stoodio (TBD)
Enjoy this write-up? Follow along with me on Twitter @lhitch09 or reach out via email logan@luckytrader.com.
For all volume and floor price data, see Lucky Trader's Project Rankings page.
For all upcoming mints, see Lucky Trader's Project Schedule page.
