NFT Morning Minute | NFTs Treading Water
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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Logan Hitchcock's NFT Market Summary
The NFT market has been quietly treading water amidst the recent controversy and fallout of FTX, which has captured more macroeconomic scrutiny and attention. I don't mean to dwell on an obvious negative time in blockchain-related industries, but I suspect the floor price changes and NFT headlines may have gotten lost in between the more jaw-dropping stories of the last week.
Maybe the most notable of which is that CryptoPunks flipped the Bored Ape Yacht Club floor price once more...with the prices continuing to head in opposite directions (Punks 62.95 ETH, Apes 58.28 ETH). Perhaps it is no surprise that the lending platform BendDAO is once again at the center of the flippening, holding five more Apes on auction at the time of writing.
That major change in the Punks and Apes floor price has also caused a flippening on our Lucky Trader Power Rankings, where CryptoPunks are now the No. 1 overall NFT project.
The cascading floor price on Apes has also leaked into the rest of the Yuga Labs ecosystem, as Bored Ape Kennel Club, Mutant Ape Yacht Club, and Otherdeeds all fell approximately 20 percent over the course of the last week. But it's not just Apes.
Other notable PFP NFT project dips and floor prices from the last week are as follows:
- Azuki (-14%, 9.69 ETH)
- Clone X (-16%, 7.41 ETH)
- Moonbirds (-12%, 7.46 ETH)
- Doodles (-9%, 6.25 ETH)
Is this simply a product of what many expect to be a slow bleed in cryptocurrencies and adjacent assets? Or is the also tied to the NFT market's shifting paradigm, perhaps to one that is more focused on art and provenance?
We'll be following, you can do so here as well.
NFT Total Volume*
- Dreadfulz (1,439 ETH, 0.01 ETH Floor Price)
- Bored Ape Yacht Club (1,158 ETH, 58.28 ETH Floor Price)
- Otherdeeds for Otherside (606 ETH, 0.96 ETH Floor Price)
- Mutant Ape Yacht Club (538 ETH, 10 ETH Floor Price)
- Azuki (379 ETH, 9.69 ETH Floor Price)
NFT Floor Price Increase*
- Consortium Key (32%, 3.90 ETH Floor Price)
- Metropolis World - City of Celeste (28%, 0.55 ETH Floor Price)
- Imaginary Ones (28%, 0.72 ETH Floor Price)
- Hedz by Matt Furie (19%, 1.19 ETH Floor Price)
- HUGO x Imaginary Ones: Embrace Your Emotion (16%, 0.58 ETH Floor Price)
NFT Floor Price Decrease*
- UAE NFT - KeyPass (-48%, 0.70 ETH Floor Price)
- Ethlizards (-23%, 0.50 ETH Floor Price)
- KPRVERSE (-22%, 0.28 ETH Floor Price)
- DigiDaigaku Dark Spirits (-21%, 0.40 ETH Floor Price)
- CyberKongz (-18%, 1.55 ETH Floor Price)
Upcoming NFT Mints and Reveals
- Art Blocks Presents: Fleur (1:00 p.m. ET)
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.
