NFT Morning Minute | Blurred (Royalty) Lines
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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
NFT trading volume has been falling daily since the mega-liquidity injection of the Art Gobblers mint on Monday, with Blur now taking the leading market share two days in a row.
Art Gobblers led volume again, though sales, GOO, and the Gobbler floor have all dropped significantly. The collection did 3,400 ETH volume, of which ~90 percent was done on Blur. The Gobbler floor is down to 8.3 ETH (-39%), likely tied to the rapidly falling GOO price ($222 at the time of writing, down another 60 percent). The reason for Blur's dominance has clearly been tied to 0 fees, and optional royalties; and the data is now surfacing showing that 83 percent of Blur transactions are avoiding royalties.
KPR completed its General Sale and notched another 2,300 ETH volume on the day, with the floor holding at 0.62 ETH (-2%) this morning ahead of today's reveal. CryptoPunks saw 1,340 ETH volume across 15 sales, leading non-Blur trading (67 ETH floor), and BAYC did 500 ETH volume with its floor steady at 65 ETH. Yuga also "turned ON" the Meebits, which led to their floor jumping about 10 percent before retracing to 3.4 ETH (+6%).
Art Blocks had a day for the history books, as their free mint Friendships Bracelets launched as a gift to the community. Over 11,000 Bracelets have been minted already, holding a 0.07 ETH floor with 410 ETH volume. It's now the biggest Art Blocks collection and is expected to reach a potential supply as high as ~70,000. Squiggles were up 9 percent on the day, reaching an 18 ETH floor and a new ETH all-time high. Other Art Blocks winners included Memories of Qilin, up 26 percent to 8 ETH.
In other news, SuperRare is launching its "Rarepass: Genesis" providing access to the leading digital artists, and Instagram announced the first dozen artists helping to integrate NFTs on its platform. The Knights of Degen have officially acquired LeagueDAO, an NFT-powered fantasy sports product, furthering its mission to be the fastest-growing sports gaming community in web3. And OpenSea released 3 new feature updates, as they have been outpaced by Blur for the 2nd day in a row.
NFT Total Volume*
- Art Gobblers (3,415 ETH, 8.24 ETH Floor Price)
- KPR (2,325 ETH, 0.63 ETH Floor Price)
- CryptoPunks (1,338 ETH, 67 ETH Floor Price)
- Bored Ape Yacht Club (520 ETH, 65 ETH Floor Price)
- Chromie Squiggles (402 ETH, 17 ETH Floor Price)
NFT Floor Price Increase*
- FVCK_CRYSTAL (38%, 0.55 ETH Floor Price)
- The MV3 Universe (34%, 0.29 ETH)
- Act of Emotion (27%, 0.95 ETH Floor Price)
- RASTER (26%, 1.2 ETH Floor Price)
- Memories of Qilin (26%, 7.95 ETH Floor Price)
NFT Floor Price Decrease*
- Art Gobblers (-41%, 8.3 ETH Floor Price)
- Runi (-14%, 0.27 ETH Floor Price)
- CryptoDickButts (-9%, 2.6ETH Floor Price)
- RENGA Black Box (-7%, 2.07 ETH Floor Price)
- CyberKongz VX (-7%, 0.56 ETH Floor Price)
Upcoming NFT Mints and Reveals
- Art Blocks Presents "Structures" by Hevey (1:00 p.m. ET)
- Historical Figures Series IV (4:00 p.m. ET)
- y00ts - reveal (Live, every 3 minutes)
- KPRVerse - reveal (TBD)
Today is a big reveal day, with y00ts from Frank DeGod surprisingly starting to reveal this morning. Those who have waited weeks for this reveal will have to wait a bit more though, as the reveal is happening once every 3 minutes right now versus all at once. The other big reveal is KPR, which has been the second biggest mover this week with over 5,000 ETH volume. Today's KPR reveal should be the liquidity event of the day. The wild card is the Art Blocks "Structures" mint, which is a bit pricey at 0.2 ETH fixed, but given Art Blocks tailwinds it could see some added volume.
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.
