NFT Morning Minute | Great Expectations
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 headline event for Thursday in the NFT space was the Azuki 1-year anniversary, and the team did come through with an announcement for a new metaverse city of Hilumia.
The interactive metaverse city serves as a "mindmap" of potential things to come from the Azuki team, but in line with recent trends, both Azuki (-7%) and Beanz (-11%) fell on the day. Many community members praised this release, making analogies to Zelda or Pokemon, and seem to enjoy the direction of world-building.
But the price dip, coupled with the Yuga NFT dip this week after the big Trial announcement, raises the question - are PFP holder expectations out of whack?
What else happened?
Market volume was over 27,000 ETH on the day but it's unclear where all the volume went, as the top movers did not see that much relatively.
Most of the NFT board was red on the day as crypto surged, with ETH passing $1,400 and BTC touching $19,000.
There were some major NFT headlines, including:
- Fewo dropped the first trailer for FewoWorld and its PFPs (Paint Drops even at 0.48 ETH)
- Rug Radio announced the date for their PFPs created by artist Cory Van Lew for (Rug Genesis -8% to 0.469 ETH), coming Feb. 6
- Memeland completed the Treasure Mapz airdrop to all Captainz waitlist holders (Captainz +5% to 5.44 ETH)
- OnChainMonkey disclosed the tiers for its upcoming collab mint with Friendship Bracelet artist Alexis Andre (-4% to 1.05 ETH)
What else is moving?
A notable loser on the day was the Mutant Hounds, which fell another 30 percent to a 1 ETH floor for revealed Hounds, and the Collars fell 20 percent to 1.6 ETH as the "L2" project loses steam.
Valhalla is regaining steam, moving up 17 percent on the day to 1.11 ETH after notable whale Darran.eth noted them as one of his top plays.
And feetpix somehow stay relevant, rebounding 30 percent on the day to 0.12 ETH, as the recent meme project keeps going.
Other notable news from NFTs and Crypto:
It was a very slow day for Web3 news (overall a slow week), but there was one major headline from Animoca.
- Movie Pass completes seed round led by Animoca Brands, plans to use funds to develop and implement their Web3 strategy including virtual reality cinema experiences
NFT Total Volume
- Azuki (1,868 ETH, 14.9 ETH Floor)
- Mutant Ape Yacht Club (1,303 ETH, 16.7 ETH)
- Bored Ape Yacht Club (1,056 ETH, 75.5 ETH)
- Beanz (1,021 ETH, 1.67 ETH)
- Mutant Hound (683 ETH, 1 ETH)
NFT Floor Price Increase
- feetpix (31%, 0.12 ETH Floor)
- Valhalla (17%, 1.11 ETH)
- Wolf Game - Farmer (16%, 0.72 ETH)
- mfers (10%, 1.55 ETH)
- Captainz (5%, 5.44 ETH)
NFT Floor Price Decrease
- Mutant Hounds (-30%, 0.96 ETH Floor)
- Mutant Hound Collars (-21%, 1.67 ETH)
- Beanz (-15%, 1.67 ETH)
- Friendship Bracelets (-13%, 0.54 ETH)
- BasedHeads (-11%, 0.17 ETH)
Upcoming NFT Mints and Reveals
- Memes by 6529 - Card drop (11:00 a.m. ET)
- Art Blocks Explorations: NimTeens by Bryan Brinkman (1:00 p.m. ET)
- Royal Rebels (3:00 p.m. ET)
- Kubz - reveal (TBD)
Today is another big day. The Memes are hot, and expect continued demand for those as SZN2 Cards carry a 10x premium from mint price.
The Art Blocks project is nice, but early reactions from holders (it had allowlist minting yesterday) were somewhat underwhelming, and PFP projects rarely perform well in AB world.
Kubz reveal may be the event of the day, as the Keungz ecosystem always managed to find volume. But as most reveal events are bearish, at least in the short term, tread carefully if entering 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.
