NFT Morning Minute | Contagion Uncertainty

NFT Morning Minute | Contagion Uncertainty

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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NFT Total Volume

NFT Floor Price Increase

NFT Floor Price Decrease

Upcoming NFT Mints

Tyler Warner's NFT Market Summary

The sentiment running through Crypto Twitter this weekend seemed to center around uncertainty about events to come this week, mostly revolving around Genesis and their potential for bankruptcy. The FTX hacker dumped ETH and other assets this weekend, and then both BTC and ETH fell yesterday evening, now at $16,064 (-2.8%) and $1,123 (-3.7%). SOL fared even worse, falling down to the 18th largest token by market cap at just $11.86 (-5.8%).

This was not a great backdrop for NFT trading and resulted in the year's lowest trading volume. OpenSea saw just ~4,700 ETH in trading volume on Saturday and Sunday, combining for less than 10k ETH across the weekend. The meager liquidity that was in the market was mostly concentrated in the Yuga ecosystem once again, with most floors steady or slightly dropping. BAYC held at 59.97 ETH floor (-1.85%) and Punks were steady at 63.95 ETH.

Otherdeeds were a winner, reaching 1.3 ETH and up over 50 percent from local lows. The Art Blocks ecosystem had a few bigger winners as well, with the Fontana floor jumping ~70 percent on the weekend to 6.75 ETH, and last week's Curated drop ORI up 50 percent to 2.77 ETH. Other winners on the weekend included Rare Apepes, back up to 0.35 ETH (+50%), Art Gobblers at 4.4 ETH (+15%), and CloneX at 8.66 ETH (+20%).

The Solana NFT ecosystem had a strong weekend, as y00ts reached a 112 SOL floor, t00bs held at 186 SOL, and new project LILY ran to a 10.8 SOL floor. On Saturday, SOL projects led overall NFT trading volume, with y00ts and LILY both out-trading all ETH-based projects.

It was a slow weekend of headlines, but there were a few notable stories. In sports, the ATP Tour will be launching NFTs in collaboration with the Art Blocks Engine. Artist Vinnie Hager will be the next up to release Instagram NFTs, coming today. The Moonbirds DAO discussions have started, with a new channel in the discord as the group begins to plan how to spend its $2.5M in funding. And Castaways announced an airdrop coming for Nov. 28.

NFT Total Volume*

  • Bored Ape Yacht Club (1,082 ETH, 59.97 ETH Floor Price)
  • Otherdeeds for Otherside (757 ETH, 1.29 ETH Floor Price)
  • CryptoPunks (623 ETH, 63.95 ETH Floor Price)
  • Mutant Ape Yacht Club (257 ETH, 11.58 ETH Floor Price)
  • Azuki (255 ETH, 10.3 ETH Floor Price)

NFT Floor Price Increase*

  • Worlds Beyond Official (57%, 0.25 ETH Floor Price)
  • ORI by James Merrill (56%, 2.77 ETH Floor Price)
  • Rare Apepe YC (50%, 0.35 ETH Floor Price)
  • Fontana (23%, 6.75 ETH Floor Price)
  • Art Gobblers (15%, 4.44 ETH Floor Price)

NFT Floor Price Decrease*

  • Gutter Dogs (-19%, 0.51 ETH Floor Price)
  • KPR (-13%, 0.28 ETH Floor Price)
  • Deadfellaz (-13%, 0.62 ETH Floor Price)
  • Catharsis (-13%, 0.3 ETH Floor Price)
  • The Art of Seasons (-11%, 0.18 ETH Floor Price)

Upcoming NFT Mints and Reveals

  • Morthir (12:00 p.m. ET)
  • Art Blocks Presents "Seedlings" (1:00 p.m. ET)
  • Mc's Cel Mates (6:00 p.m. ET)
  • Vinnie Hager - Instragram NFTs (TBD)

Today is an interesting day of new drops. Cel Mates has caught some hype recently and is likely the top mint of the day. Its supply is at 4,207, a much more attractive count than 10k, but the 0.333 ETH mint price is on the high side. Vinnie Hager's Instagram drop will likely sell out in seconds, as the first few Instagram drops have been very successful. And Art Blocks is the wild card today, with "Seedlings" having a resting price of 0.2 ETH for a 200 supply. If it's not botted and collectors rally around the project, it should have some nice upside potential.

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.

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