Morning Minute | Memes Making Moves
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 Memes by 6529 were the winners of the weekend, with the floor jumping nearly 100 percent to 0.6 ETH and the cost of the full set up 50 percent to over 140 ETH.
🔥 What happened with the Memes?
The Memes were the volume leader on Saturday and saw over 2,000 ETH volume across the weekend in their biggest stretch to date.
Saturday night was the major rally, with the entire floor beside First GM reaching 1 ETH, before most cards retraced and settled into Sunday. The floor on First GM now sits at 0.6 ETH (it was 0.33 ETH on Jan 18), and the bottleneck card Nakamoto is at 36.529 ETH.
The driver for this rally?
It seemed to be sparked by the announcement Saturday morning of this next week of artists, which include 6529er (the artist behind the 6529 Gradient) and DirtyRobot, the Renga artist. Hopeful minters seemingly bought up Meme Cards on that news, vying to get on the allowlist.
Certainly other drivers helped, like notable whale Dingaling sweeping a full set mid-week, several buys on the top cards Nakamoto and Sgt. Pepe, and the success of derivatives like the Nakameebto from Sergito and the 6529 Complaints.
Now the question becomes - how will floors hold this week after snapshots for these big upcoming artists?
📰 What else happened this weekend?
Overall NFT market trading volume dipped back below the 20,000 ETH threshold on both days this weekend, coming in right around 18,000 ETH on Sunday.
The Sewer Passes held their ground through the weekend, with the T1 floor at 1.89 ETH this morning, and T4 at 5.64 ETH. The Yuga NFTs held strong as well, with BAYC back up to 69.9 ETH, MAYC at 13.9, and BAKC at 6.8.
Notably, 80,000 $APE has been spent so far for in-game boosters in Dookey Dash ($469,000), and $APE ended the week up 14 percent to $5.86.
The Memeland team announced questing went live for the Captainz on Saturday, enabling the first stage of reveal for stakers. The Captainz floor dipped briefly on the news but sits at 4.25 ETH this morning.
No news came from the Azuki team on Sunday, Chinese New Year, leading to some disappointment and the floors down to 14.2 ETH (-7%) and 1.52 ETH for Beanz (-5%).
Notable movers included KPMachines, debuting at 0.45 ETH yesterday on 500 ETH volume; Kanpai Pandas reaching ATH at 2.16 ETH; the PONZI NFT reaching 0.14 ETH (+120%); Dooplicators up 20% to 1.28 ETH, and Pudgy Rogs up to 0.54 ETH (+38%) after the expansion headlines (see below).
🌎 Around Web3
Some other NFT and Web3 headlines that caught my eye:
- Pudgy Penguins teased "Expansion starts soon" in a trailer Sunday afternoon, after Saturday's announcement of "The Pudgy soulTransport" enabling soulbound tokens for sub-communities
- Blur announced mobile support, starting with floor prices but with trading coming soon
- OpenSea released a new live-data update, showing pending purchases in real-time, arrows showing price changes, and a new listings feature
- Porsche shared new details for its upcoming mint, featuring a 7,500 supply at 0.911 ETH mint price
🚀 NFT Total Volume
- Sewer Pass (1,284 ETH, 1.89 ETH Floor)
- Bored Ape Yacht Club (1,037 ETH, 69.9 ETH)
- Mutant Ape Yacht Club (1,002 ETH, 13.9 ETH)
- Captainz (804 ETH, 4.25 ETH)
- Otherdeeds (659 ETH, 1.34 ETH)
📈 NFT Floor Price Increase
- Proceed w/ Caution (101%, 0.27 ETH Floor)
- Pudgy Rogs (38%, 0.58 ETH)
- PONZI NFT (134%, 0.15 ETH)
- Dooplicator (21%, 1.28 ETH)
- Wonderpals (25%, 0.15 ETH)
🗓 Upcoming NFT Mints and Reveals
Today is a very interesting day of new drops, highlighted by Porsche and Art Blocks.
First, there is no Memes card today as it was pushed to tomorrow.
The Porsche drop this morning is likely the spotlight today, though with 7,500 NFTs and a 0.911 ETH mint price, it's hard to see this one selling out. Of course, Porsche has a big name, but I have not seen a ton of community engagement or demand to warrant such a high price tag.
The Art Blocks drop "Ottocento" is a PFP collection, which do not typically perform well. It's on the lower supply side at just 120, which is a plus, but recent AB tailwinds are very bearish and with more attention on the Memes right now, it's a risky mint (unless you just want the art).
- Porsche 911 (11:00 a.m. ET)
- Ottocento by Berubara (1:00 p.m. ET)
- Top Shot Tour: Paris (5:00 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.
