NFT Morning Minute | Markets Down, NFTs Up
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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
Equity markets were in turmoil late Thursday afternoon, with Amazon and Meta stock each falling 20 percent, setting up a tumultuous Friday. The crypto markets have held relatively strong in the wake, with BTC at $20,170 (-1.9%) and ETH at $1,498 (-3.1%). NFT trading was up on the day, with $10.2M in OpenSea ETH volume and $850k OpenSea Polygon, though Polygon volume is down for the third straight day. NFT floors held up well on the day too, with most major sets even or slightly in the green.
The primary winner of the volume increase was RTFKT x RIMOWA, which sold out their Cabin Luggage and WorkerBot NFTs raising ~1,930 ETH on the primary market and an additional 1,200 ETH on the secondary, even though the mint was exploited. The Workerbots are up ~4x from their 0.07 ETH mint, now at 0.3 ETH, and the Cabin Luggage is up 15% to 2.3 ETH (from 2 ETH mint). Punks and BAYC were next on the board, combining for ~900 ETH as their floors mostly held at 66.8 ETH (+3%) and 72 ETH (-1%). Chromie Squiggles saw 245 ETH volume on the day and jumped 9 percent to a 14 ETH floor, continuing their steady climb.
Other notable winners on the day included Clone X, up 10 percent to 8.75 as NFL Star Odell Beckham Jr. traded his punk for a Clone X bag. Renga was up 15 percent to 1.27 ETH floor and Ether Orcs Genesis was up 18 percent to 0.6 ETH floor on news of their collaboration with DigiDaigaku. Azuki rounded out the PFP winners, up 6 percent to 11.7 ETH.
Top headlines from the day included ApeCoin staking officially delayed, LooksRare moving to a zero royalty model, SoRare close to a Premier League deal, and Twitter set to enable NFT trading as Elon enters the building.
NFT Total Volume*
- RTFKT x RIMOWA Meta-Artisan (1189 ETH, 0.3 ETH Floor Price)
- CryptoPunks (474 ETH, 66.8 ETH Floor Price)
- Bored Ape Yacht Club (451 ETH, 72 ETH Floor Price)
- Clone X (288 ETH, 8.75 ETH Floor Price)
- Chromie Squiggle (245 ETH, 14 ETH Floor Price)
NFT Floor Price Increase*
- Act of Emotion by Kelly Milligan (60%, 0.86 ETH Floor Price)
- Wearing Your Emotions x Reddit Avatars (49%, 0.44 ETH Floor Price)
- Full Send Metacard (33%, 0.59 ETH Floor Price)
- Alan Ki Aanhkan by Fahad Karim (32%, 0.98 ETH Floor Price)
- Admit One (26%, 6.3 ETH Floor Price)
NFT Floor Price Decrease*
- Rare Apepe YC (-11%, 0.33 ETH Floor Price)
- Finiliar (-10%, 0.27 ETH Floor Price)
- Anthony Hopkins - The Eternal (-8%, 0.4 ETH Floor Price)
- The Senses x Reddit Avatars (-8%, 1.34 ETH Floor Price)
- Keungz Genesis (-7%, 8.42 ETH Floor Price)
Upcoming NFT Mints and Reveals
- Azul (9:00 a.m. ET)
- Contractions (12:00 p.m. ET)
- ZuckBots (1:00 p.m. ET)
- 100 GHOSTS (3:00 p.m. ET)
- Friday Beers - Reveal (7:30 p.m. ET)
After a big day of primary market trading yesterday thanks to RTFKT, expect a bit of a hangover today. ZuckBots should catch some attention, given their ties to My Pet Hooligan, which was up 9 percent on the day to 1.1 ETH ahead of the free mint today. Other than that, expect most trading and liquidity this weekend to be on the secondary markets for whichever set(s) can catch attention.
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.
