NFT Morning Minute | More Big Bets on Web3
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
Tuesday's sea of green was quickly washed away in a very red day in the NFT markets on Wednesday. Even with a higher day of trading volume at almost 27,000 ETH traded, most recent movers gave their gains back. Making matters worse ETH also fell 3.3 percent on the day to $1,287, after a fairly bearish FOMC meeting.
The Yuga Labs duo in BAYC/MAYC maintained the top 2 spots on the volume board, though their floors have been quietly declining for the past several days. In fact, Punks have re-flipped Apes again, with Punks at 64.5 ETH to Apes at 63.2 ETH. ApeCoin has been underwhelming, now back below $4 at $3.99, down 10 percent from local highs.
Tuesday's big winners in the anime sector all fell, with Valhalla back to 1.24 ETH (-19%), JUUNI at 0.38 (-16%), and KPR at 0.23 ETH (-11%). Yesterday's Art Blocks Curated had disappointing results as well, minting out at 1.9 ETH and holding a 1.8 ETH floor overnight, slightly below mint. Tim Ferriss's COCKPUNCH was one of the lone winners on the day, up another 15 percent to 1.04 ETH in a great rebound from its recent lows.
While it was a rough day in the markets, it was a busier day for NFT and Web3 news. Paypal announced a partnership with MetaMask to provide a new funding option for buying crypto. Three major investment firms announced big bets on Web3 in different ways, spanning blockchain funds, IP protocols, and decentralized sports betting.
Gabe Leydon and the Limit Break team teased a new "Community Royalties" solution allowing both creators and collectors to receive royalty proceeds. Yuga Labs announced a bug bounty program, with up to $50,000 in rewards. And in marketplace news, Blur clarified its Airdrop 3 rewards mechanic while Magic Eden unveiled a new rewards program for traders.
NFT Total Volume*
- Bored Ape Yacht Club (4,965 ETH, 63.2 ETH Floor Price)
- Mutant Ape Yacht Club (3,240 ETH, 13.62 ETH Floor Price)
- Clone X (2,302 ETH, 6.3 ETH Floor Price)
- Azuki (1,408 ETH, 11.55 ETH Floor Price)
- Valhalla (1,251 ETH, 1.24 ETH Floor Price)
NFT Floor Price Increase*
- CrytpoNinjaPartners (34%, 1.2 ETH Floor Price)
- Cryptoon Goonz (26%, 0.29 ETH Floor Price)
- COCKPUNCH (15%, 1.04 ETH)
- Doodles Dooplicator (12%, 0.76 ETH)
- Creepz (8%, 1.85 ETH Floor Price)
NFT Floor Price Decrease*
- Lil Kami (-28%, 0.06 ETH Floor Price)
- Valhalla (-19%, 1.24 ETH Floor Price)
- JUUNI (-16%, 0.38 ETH Floor Price)
- Art Gobblers (-11%, 2.8 ETH Floor Price)
- KPR (-11%, 0.23 ETH Floor Price)
Upcoming NFT Mints and Reveals
- Coinage Caucus Membership Pass (11:00 a.m. ET)
- Hot Wheels NFT Garage Series 4 (12:00 p.m. ET)
- 90's Kids (12:00 p.m. ET)
- La Liga Golazos: Kings of the World Premium Packs (12:30 p.m. ET)
- Untitled by Amber Vittoria (1:00 p.m. ET)
- Departed Apes (1:00 p.m. ET)
The drops to watch today are Amber Vittoria's art drop and 90's Kids. Amber has seen strong success in recent art releases, and her price point of 0.1 ETH provides some nice upside, even with a 1,500 supply. The 90's Kids project is from founder Gabriel Jetski and Fvckrender, featuring an art style similar to the Cryptoon Goonz. The 10k supply is heavy, but at 0.05 ETH mint price, it has some potential upside, especially with the recent success of Lil Kamis in the low-cap sector.
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.
