NFT Morning Minute | A Super Day for SuperRare
Good morning!
Take a minute to catch up on the latest in the web3 space. Here are today's NFT market analysis, top movers, and upcoming mints:
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Tyler Warner's NFT Market Summary
While Yuga projects took 4 of the top 5 spots on the volume leaderboard again today, it was SuperRare's RarePass: Genesis that stole the show. The art mint pass sold out its supply of 209 available NFTs at 17.25 ETH in a Dutch auction yesterday, and then surged on the secondary market to 27.4 ETH (+59%) on 1,000 ETH volume. The SuperRare team faced backlash from the community about not enough allocation of the proceeds going to the artists behind the project, but they addressed that by providing 10 percent to the artists - which appears to have been enough to calm the concerns.
OpenSea trading volume was at ~6,200 ETH, down slightly from Tuesday. BAYC, Punks, MAYC, and Otherdeeds combined for ~3,800 ETH as floors mostly held steady, though Otherdeeds popped 15% to 1.04 ETH.
There were some solid winners on the day, with Wolf Game NFTs up 20-30 percent after their trailer dropped last night, Art Gobblers up to 3.64 ETH (+27%) on some sharp buying and whale sweeps, and Azuki creeping back up to 9.94 ETH (+5%) on the back of its sponsorship of the F1 Red Bull Racing team. The Art Blocks Curated drop "ORI" also jumped ~50 percent from its min price of 1.2 ETH, settling at 1.8 ETH overnight.
Top web3 news stories included adidas unveiling its genesis NFT collection called "Virtual Gear," though its previous NFT collab projects each fell on the news. Pudgy Penguins made it to the cover of a Kellogg's box, which the market liked as the floor jumped 20 percent. The Magic Eden marketplace rolled out a new mint-style mechanic on its platform, allowing for fair price discovery via a 24-hour auction. And the Art Blocks team announced an event at Art Basel, as more projects add to events to that schedule.
NFT Total Volume*
- Bored Ape Yacht Club (1,093 ETH, 62 ETH Floor Price)
- RarePass: Genesis (1,025 ETH, 27.4 ETH Floor Price)
- Otherdeeds for Otherside (1,008 ETH, 1.04 ETH Floor Price)
- CryptoPunks (848 ETH, 66.79 ETH Floor Price)
- Mutant Ape Yacht Club (813 ETH, 11.79 ETH Floor Price)
NFT Floor Price Increase*
- Wolf Game - Land (32%, 0.45 ETH Floor Price)
- Art Gobblers (27%, 3.64 ETH Floor Price)
- Wolf Game (23%, 0.85 ETH Floor Price)
- HELIX Founder Pass (22%, 0.52 ETH Floor Price)
- Pudgy Penguins (20%, 2.87 ETH Floor Price)
NFT Floor Price Decrease*
- adidas Meta Capsules (-42%, 0.15 ETH Floor Price)
- adidas Originals: Into the Metaverse (-26%, 0.44 ETH Floor Price)
- DigiDaigaku Dark Spirits (-15%, 0.42 ETH Floor Price)
- The GODA Mint Pass (-13%, 2.99 ETH Floor Price)
- DigiDaigaku Heroes (-12%, 3.15 ETH Floor Price)
Upcoming NFT Mints and Reveals
- 1984 (10.00 a.m. ET)
- LaLiga Golazos "World Stars" (12:30 p.m. ET)
- Purrnelope's Country Club (1:00 p.m. ET)
- Reignmakers Football 2022 Holiday Pack (5:00 p.m. ET)
- Slam Retro Covers Vol.1 Mystery Container (5:00 p.m. ET)
- Capsule House - Capsule Card Collection 7:00 p.m. ET)
Yesterday proved to be a major day for the primary market, with RarePass minting out at 17.25 ETH and ORI minting out at 1.2 ETH. Both were successful mints, up 50 percent, so minters and traders are feeling good headed into the second half of the week. The options today are a little weak and are not likely to catch much volume, but any stealth drops or projects that catch attention on secondary will have some room to run today and into the weekend. Otherdeeds especially is one to watch, gaining some clear momentum on expectations of an announcement for The Otherside coming soon.
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.
*data retrieved at 8:00 a.m. ET. Volume and percentages are based on the last 24 hours. Notable projects are included, typically with a 0.25 ETH minimum on the projects listed in this roundup.
