Morning Minute | Let The Dookey Games Begin
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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TylerD's NFT Market Summary
The BAYC Dookey Dash begins today and Sewer Pass holders are feeling good after an overnight rebound. Now all eyes turn to what happens once the game begins.
🙊 What's happening with the Sewer Passes?
The Sewer Passes debuted early yesterday afternoon and have already seen nearly 8,000 ETH volume, taking the top volume spot by far.
There are 4 tiers of passes, and the lowest Tier (Tier 1), saw its floor dip as low as 1.1 ETH yesterday evening. General sentiment seemed to be trending down as well, with most wondering "who is going to actually play this game?" and once again raising the question of how many truly active market participants are here.
Well, those concerns were at least temporarily squashed after the floor rebounded 40 percent to 1.78 ETH this morning with just 50 percent of the 30,000 possible supply out on the market.
Here are the floors by tier:
- Tier 1: 1.78 ETH
- Tier 2: 2.34 ETH
- Tier 3: 3.15 ETH
- Tier 4: 5.78 ETH
So BAYC owners (with BAKC) got another liquid ~6 ETH airdrop here, and MAYC pair owners got a 2.3 ETH airdrop. Pretty solid stimulus.
But, and there is a but - the Yuga NFTs have fallen hard in the past few days.
BAYC is at 67 ETH, MAYC is at 13.4, and BAKC is at 6.5 ETH, each down 3-8 percent on the day and down significantly more from local highs.
Where will the Yuga NFTs go from here? How many people will actually play the game?
These are key questions, and we will find out soon.
🚚 What else is moving?
The NFT market volume jumped to 28,500 ETH on the back of the Sewer Pass mint and a few projects benefited.
First, the new Art Blocks Curated "The Harvest" was a big hit yesterday, minting out at ~3.3 ETH and jumping 60 percent overnight to a 5.4 ETH floor this morning. It was the first Curated drop in a while, and that pent-up demand coupled with some great outputs, led to over 1200 ETH volume in the first day of trading.
The Memes by 6529 had another card drop yesterday, which continued the 10x+ trend from mint price (of 0.06529 ETH), reaching 0.9 ETH in its debut. The full set keeps climbing, now at 93 ETH.
Azukis and Beanz are slowly grinding back up after recent dips (Azuki at 15 ETH and Beanz at 1.68 ETH), with some big news yesterday of a new partnership with Bilibili International to explore web3 content and anime. There is another big announcement expected on Jan. 23.
DigiDaigaku are up another 2 percent to 11.5 ETH and the Villain Potions are up 30 percent to 1.85 ETH, ahead of a big announcement expected today from founder Gabe Leydon.
The attention on Sewer Passes and the blue chips above hurt the recent movers, with Checks down to 0.22 ETH (-22%) and a KID called BEAST down to 0.44 ETH (-15%).
🌎 Around Web3
Some other NFT and Web3 headlines that caught my eye:
- Beeple is opening "Beeple Studios" in Charleston, SC, in March to showcase his and other digital artists work
- The Web3 gaming platform Intella X raised $12 million in anticipation of its upcoming launch on the Polygon blockchain in Q1
- The Rarible marketplace launched a new builder for Polygon
- Parallel is releasing 45,000 playing card starter decks as the full game launch approaches
- $1 billion Venom Venture Fund to invest big in Web3 and blockchain
🚀 NFT Total Volume
- Sewer Pass (8,000ETH, 1.78 ETH Floor)
- Mutant Ape Yacht Club (4,120 ETH, 13.4 ETH)
- Bored Ape Kennel Club (2,996 ETH, 6.5 ETH)
- Bored Ape Yacht Club (1,360 ETH, 67 ETH)
- The Harvest (1,200 ETH, 5.4 ETH)
📈 NFT Floor Price Increase
- DigiDaigaku Super Villain Potions (32%, 1.85 ETH Floor)
- Cheers Up (21%, 0.0.69 ETH)
- Treeverse (13%, 0.75 ETH)
- The Plague (8%, 0.44 ETH)
- gmDAO (5%, 4.06 ETH)
🗓 Upcoming NFT Mints and Reveals
Today is a slower date of drops after yesterday's flurry. Expect continued momentum on those new mints (Sewer Passes, The Harvest) as the Dookey Dash begins today.
The wild card for today is Gabe Leydon and whatever announcement he has up his sleeve - if it's a big one, the DigiDaigaku ecosystem could send.
Otherwise, be careful in the low caps and microcaps this week, which are red pretty much universally across the board as crypto continues to hold its rally.
- Crypto Hasbulla (12:00 p.m. ET)
- ROOR (1:00 p.m. ET)
- The Pencil Case Project (1:00 p.m. ET)
Enjoy this write-up? Follow along with me on Twitter @tyler_did_it or reach out via email tyler.warner@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.
