NFT Morning Minute | Dookey 'Dash'es Hopes
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
The long-awaited details for The Trial of Jimmy the Monkey mint from BAYC arrived, and all of the dookey and sewer references made the Yuga market puke.
What happened with The Trial?
Here's the short version, directly from BAYC: "monkey butthole, Sewer Pass January 17, skill-based mint begins January 18, new power sources."
All BAYC and MAYC owners will be eligible for Sewer Passes, which enable the playing of a game tied to the skilled-based mint of a new power source NFT. BAKC helps owners earn higher-tier Sewer Passes, and $APE can be used for in-game boosters.
This means the Yuga ecosystem is getting another 30,000 NFTs, and the market did not take that news well. Here is a snapshot of the 24-hour floor action:
- BAYC: 81.5 to 73 ETH Floor (-10%)
- MAYC: 19.3 to 17 ETH (-13.5%)
- BAKC: 11.1 to 8.67 ETH (-28%)
The floors had certainly run up quite a bit in anticipation of the details, but this is bigger fallout than most expected.
What else is moving?
Trading volume ticked up to ~ 23,500 ETH on Tuesday, led by the Yuga trio and one Yuga-adjacent project in the Mutant Hounds.
The Hounds briefly looked to be pulling off a bullish reveal, as the post-reveal floor for the Hounds held at 1.8 ETH while the Collars jumped ~20 percent to 2.1 ETH. But then the revealed Hounds floor fell out and normalized at 1.4 ETH this morning - a very efficient dip with the Collars holding 2.1 ETH.
Azuki's jumped 20 percent overnight to 15.8 ETH after a $500,000+ sweep by the whale Rewkang. With the Trial dust settled for now, the Azuki's are in the spotlight on their 1-year anniversary today (announcement(s) expected).
Wait what's that sound? That's the sound of Friendship re-entering relevancy, as the Bracelets rebounded 20 percent from local lows at 0.5 ETH back to 0.62 ETH on solid volume.
Some other notable movers:
- The Memes by 6529 keep grinding up after yesterday's Grant Yun Meme Card debuted at 1.2 ETH. The floor is now essentially over 0.6 ETH (+20%).
- DigiDaigakus jumped another 10 percent to 12.8 ETH as anticipation of that Super Bowl commercial and mint keeps growing.
- The Bright Moments NFT Crypto Citizens surged 31 percent to 1.13 ETH after the news of their next Tokyo stop on their world tour
Other notable news from NFTs and Crypto:
Crypto had a huge day on Wednesday in what felt like a turning-point day in the market. ETH reached $1,410 (+5%) and BTC hit $18,200 (+4%) in a huge green day ahead of today's CPI news.
The surge also has some NFT market participants worried about the impact of ETH surging on NFT floors.
Other headlines from Web3 include:
- Intuit, National Geographic, and White Claw all filed trademarks for NFT and Metaverse-related items
- Bill Gates dismissed the growth potential of web3 and the metaverse compared to AI in a Reddit-AMA yesterday
NFT Total Volume
- Mutant Ape Yacht Club (4,720 ETH, 19.3 to 17 ETH Floor)
- Bored Ape Kennel Club (3,405 ETH, 11.1 to 8.67 ETH)
- Bored Ape Yacht Club (2,480 ETH, 81.5 to 73 ETH)
- Azuki (2,021 ETH, 15.9 ETH)
- Mutant Hound Collars (1,523 ETH, 2.1 ETH)
NFT Floor Price Increase
- Azuki (20%, 15.9 ETH Floor)
- Mutant Hound Collars (16%, 2.1 ETH)
- DigiDaigaku (20%, 12.8 ETH)
- Milady (36%, 1.6 ETH)
- Crypto Citizens (31%, 1.13 ETH)
NFT Floor Price Decrease
- 0n1 Force (-18%, 0.66 ETH)
- BAKC (-17%, 8.67 ETH Floor)
- Applied Primate (-17%, 0.9 ETH Floor Price)
- Renga (-12%, 1.45 ETH)
- Valhalla (-16%, 0.88 ETH)
Upcoming NFT Mints and Reveals
- Amber Vittoria A (1:00 p.m. ET)
- The Founder"s Key (TBD)
- Azuki - 1-year anniversary (today)
Yesterday was a huge day of events and now the sole focus in the PFP space turns to Azuki.
With the Yuga asset floors all falling after The Trial announcement, holders are worried about a similar outcome for Azuki. But given their history of bullish announcements, perhaps they can pull it off. The Azuki's and Beans will be the primary projects to watch today.
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.
