NFT Morning Minute | Degen(heim) Day
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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
Volume was relatively low again Thursday with 7,500 ETH traded on OpenSea in what feels like our new normal. But trading aside for a second, it was a day stock full of bullish NFT and web3 headlines. Select BAYC and GCG holders will be getting airport VIP lounge access - IRL utility. Two major media companies in Warner Bros and National Lampoon are entering web3 and launching experiences plus digital collectibles. And the leading sports NFT brand NBA TopShot is finally listening to user feedback and introducing a better queue system. Progress is happening.
In trading news, Degenheim led market action Thursday with 1,000+ ETH traded across marketplaces on its debut. The project is more than 2x from its 0.08 ETH mint, sitting at 0.18 ETH. Punks saw 500+ ETH across 6 sales, though the floor remains unmoved at 66.6 ETH. Castaways Islands were the most notable winner on the day, up a whopping 70 percent to 4.8 ETH. Nyolings fell 20 percent after their recent run as did Gangster All Stars, and Anthony Hopkins - The Eternal also fell 17 percent on its reveal (though holding a 0.66 ETH floor is a win).
The most notable loss on the day though was from Otherdeeds, which fell 22 percent to 1.21 ETH after an interview between Punk6529 and Garga revealed that the "persistent world" of The Otherside won't be coming until 2023 (this should not have been a surprise). This is essentially the lowest the floor for the coming Yuga metaverse has ever been.
One interesting side note - folks may have seen Dodoor NFT at the top of volume boards over the past few weeks. The project was strangely trading in the 1-2 ETH range earlier this week with very little market chatter. Well, it appears to have been a scam, and the floor finally fell out Thursday, falling 94 percent to 0.14 ETH. Be careful out there and make sure to do some level of diligence before blindly chasing new projects.
NFT Total Volume*
- CryptoPunks (528 ETH, 66.6 ETH Floor Price)
- Degenheim (406 ETH, 0.18 ETH Floor Price)
- Bored Ape Yacht Club (261 ETH, 75.9 ETH Floor Price)
- Otherdeed for Otherside (255 ETH, 1.21 ETH Floor Price)
- Ethereum Name Service (177 ETH, 0.0 ETH Floor Price)
NFT Floor Price Increase*
- Castaways - The Islands (71%, 4.8 ETH Floor Price)
- Alfa Pass (54%, 0.29 ETH Floor Price)
- Finiliar (40%, 0.33 ETH Floor Price)
- Lazy Lions (34%, 0.43 ETH Floor Price)
- Gents Croquet Club (33%, 11.0 ETH Floor Price)
NFT Floor Price Decrease*
- Dodoor NFT (-94%, 0.14 ETH Floor Price)
- 9dcc ITERATION-01 (-70%, 0.1 ETH Floor Price)
- Otherdeed for Otherside (-22%, 1.21 ETH Floor Price)
- Primitives by Aranda\Lasch (-22%, 0.65 ETH Floor Price)
- Anthony Hopkins - The Eternal (-20%, 0.66 ETH Floor Price)
Upcoming NFT Mints
- Art Blocks Playground: Intersections by Rafael Rozendaal (1:00 p.m. ET)
- MISPHITS (3:00 p.m. ET)
- Azuki Golden Skateboard Auction (9 p.m. ET)
The Art Blocks drop is likely the top mint of today, though recent Playground projects have performed very poorly on the secondary market. With 300 supply and a 0.2 ETH resting price, this one may be a "watch from the sidelines." Then tonight we have the Azuki Golden Skateboard auctions kicking off, as these gold-plated 45-lb beauties go up for sale in a 24-hour auction.
Maybe the biggest event of the weekend will be the Street Machine reveal, which the team opened up to a community vote and appears to be happening at 8 p.m. ET tomorrow night. As one of the top movers in the low-cap sector over the past few weeks, this reveal should see some solid liquidity.
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. There is a 0.25 ETH minimum on the projects listed in this roundup.
