NFT Morning Minute | First Dogs Then Hounds

NFT Morning Minute | First Dogs Then Hounds
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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

Wednesday was a roller coaster day in the NFT markets, likely headlined by the big winner of the day in Mutant Hounds. The project pulled off a bullish reveal, as its floor moved from 0.56 ETH to 0.5 ETH at the low, then rebounded hard to 0.86 ETH overnight for a whopping 54 percent gain on the day. The project is doing a two-part reveal, so owners only found out if they hold a Mega or not, with a full trait reveal still to come. Mega holders hit the rare lotto, with multiple selling already in the 38-39 ETH range.

A close runner-up for the top headline was Bored Ape Yacht Club releasing the first trailer for The Trial of Jimmy the Monkey yesterday evening. The trailer shows the main character Jimmy swallowing a special key to the mystery box teased in most of the promotion materials, and the accompanying website lays out a timeline for The Trial. Key Dates are Jan. 11 to "Prepare for the Mint," Jan. 18, when the interactive mint begins, and Feb. 8 for the "Mint Reveal."

The Yuga NFTs were mostly unchanged on the day, with BAYC holding at 66.9 ETH, MAYC at 15 ETH, and BAKC at 8.2 ETH. Azuki and Moonbirds remain in the top 5 in daily trading volume, though it's mostly Blur farming, and both project's floors are down slightly at 11.1 ETH and 7.13 ETH respectively.

The Memes by 6529 continue to grind up ahead of the next holder snapshot this Friday, capturing the top 500-1000 holders. Friendship Bracelets ran to 0.37 ETH at peak on Wednesday before retracing to 0.3 ETH, with strong action on palettes as well. And The Plague had a nice day, up 19 percent to 0.53 ETH. A notable loser on the day was Degenz Access Pass, which fell 46 percent to 0.21 ETH, but this was expected as the snapshot for the upcoming Alien Queen Tabz drop is now complete with the Tabz mint happening today.

Other top news from NFTs and Web3 includes Blur recalculating its Airdrop 2 rewards, leading to most users getting a significant bump. OpenSea adding a new "Drop" feature allowing anyone to mint from their platform. The Meebits are releasing a musical album in collaboration with WarpSound. The Lascaux Editions appear to have entered a new chapter in the "game," with the free mint Trust taking place yesterday. And metaverse-blockchain Lamina1 is launching a fund to invest in metaverse builders.

NFT Total Volume*

  • Bored Ape Kennel Club (4,125 ETH, 8.2 ETH Floor Price)
  • Azuki (2,776 ETH, 11.1 ETH Floor Price)
  • Bored Ape Yacht Club (1,962 ETH, 66.9 ETH Floor Price)
  • Mutant Ape Yacht Club (1,778 ETH, 15 ETH Floor Price)
  • Moonbirds (1,382 ETH, 7.13 ETH Floor Price)

NFT Floor Price Increase*

  • Mutant Hounds (55%, 0.85 ETH Floor Price)
  • Trump Cards (33%, 0.23 ETH Floor Price)
  • Wolf Game - Farmer (17%, 0.92 ETH Floor Price)
  • The Plague (19%, 0.53 ETH)
  • DigiDaigaku (13%, 7.35 ETH)

NFT Floor Price Decrease*

  • Wolf Game (-12%, 0.76 ETH Floor Price)
  • QWERTY (-16%, 1.3 ETH Floor Price)
  • Dooplicator (-7%, 0.88 ETH Floor Price)
  • Degenz Access Pass (-46%, 0.21 ETH Floor Price)
  • Wool Pouch (-24%, 0.02 ETH Floor Price)

Upcoming NFT Mints and Reveals

  • Tabz (TBD)
  • NBA Top Shot: Holiday of Hoops Pack (3:00 p.m. ET)

The market for new projects is clearly hot right now, based on the success of recent drops like Hounds and Valhalla. The key is capturing enough of the market's attention to reach a significant level of volume. Tabz is next up, with a high-profile artist in Alien Queen and founding team with Mando and OSF of Degenz and Rug Radio. The art is similar to Matt Furie's Hedz or Pegz in some ways, projects that saw major success. 

Based on Degenz Access Pass price action, the market is valuing the Tabz at ~0.2-0.25 ETH pre-reveal. Any surge beyond that will be a win for minters (as the Degenz have fallen by that margin). The mint will be open for 3 days, allowlist only, and does not appear to be over-allocated (but there's no reason to wait and DYOR). There should be a nice rare lotto on these, with the reveal coming on Dec. 26.

Enjoy this write up? Follow me on Twitter @tyler_did_it or reach out via email

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.

Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice. AI may have assisted in the creation of this content.