NFT Morning Minute | Playing For Keeps
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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
Art Gobblers once again led the volume charts, with 9,400 ETH traded on a volatile day which saw the floor price round trip from 14 ETH up to 22 ETH+ (25 ETH on OpenSea) before falling all the way back to 14 ETH. The price of GOO was a roller coaster as well, starting the day as high as $3,000, ranging in the $1k-$1.5k range for most of the day before falling overnight, now $740. The first blank pages, artwork, and new Gobblers were all created on the day as well, with the game mechanics now in full swing.
KPR debuted with its Keepers List mint and traded 2,600 ETH on its first day of trading, with that volume concentrated on Blur as OpenSea saw just 440 ETH market share. The floor sits at 0.64 ETH this morning, up more than 3x from the 0.2 ETH mint price, ahead of the General List sale today at 11 a.m. ET (full-on gas war).
Other market action was pretty tame and out shadowed by those two liquidity magnets, but there were a few notable winners mostly in Art Blocks. Fidenza was up 23 percent on the day to a 99 ETH floor, Jen Stark's "Vortex" surged 60 percent to 1.8 ETH, and yesterday's Curated drop "Tide Predictor" ran from a 0.66 ETH mint to 1.2 ETH at the peak before round-tripping back to 0.695 ETH floor. Punks and BAYC chopped on the day, at 66.8 and 64.5 ETH floors, and most of the mid-tier PFPs followed suit. The Yuga ecosystem did approve the ApeCoin bug bounty, meaning $APE staking is delayed at least 3 more weeks.
In macro news, the FOMC meeting resulted in a 75 bps hike and a more hawkish tone than expected, leading equities to dip hard. Crypto held surprisingly strong, with BTC at $20,250 (-0.9%) and ETH at $1,540 (-0.5%), giving more hope to a "decoupling."
There were several bullish NFT headlines on the day, led by Meta announcing the rollout of digital collectible creation and trading on Instagram, using the Polygon blockchain. Game of Thrones is rolling out digital collectibles, as the latest entertainment mega-franchise to throw its hat in the ring. And leading crypto wallet provided MetaMask made two big announcements, related to partnerships in gaming and portfolio tracking.
NFT Total Volume*
- Art Gobblers (9,415 ETH, 13.4 ETH Floor Price)
- KPR (2,674 ETH, 0.64 ETH Floor Price)
- CryptoPunks (221 ETH, 66.8 ETH Floor Price)
- Mutant Ape Yacht Club (210 ETH, 12 ETH Floor Price)
- Bored Ape Yacht Club (198 ETH, 64.5 ETH Floor Price)
NFT Floor Price Increase*
- Vortex by Jen Stark (57%, 1.8 ETH Floor Price)
- ACK Editions (39%, 0.26 ETH)
- Fidenza (24%, 99 ETH Floor Price)
- Jiometory No Compute (22%, 0.73 ETH Floor Price)
- Flux by Owen Moore (20%, 0.74 ETH Floor Price)
NFT Floor Price Decrease*
- Art Gobblers (-41%, 8.3 ETH Floor Price)
- DigiDaigaku Dark Spirits (-21%, 0.9 ETH Floor Price)
- HUGO x Imaginary Ones (-16%, 0.71 ETH Floor Price)
- ZenAcademy (-16%, 0.39 ETH Floor Price)
- IlluminatiNFT (-15%, 0.33 ETH Floor Price)
Upcoming NFT Mints and Reveals
- KPRVerse - General Sale (12:00 p.m. ET)
- Friendship Bracelets by Alexis Andre (11:00 a.m. ET)
Today will be an interesting day of trading, with KPR as the main event. The remainder of the 10k supply comes out today at 11 a.m. ET in what will be a major gas war. There will then be ~1 day more of secondary trading ahead of the project reveal tomorrow, with early speculation of a dip following today's sale with a bit of a run into the reveal event tomorrow. The wild card is the Friendship Bracelets mint for all Art Blocks holders (snapshot already taken), which is a free mint. Many are calling it a status symbol or proof of being early to this major generative art movement, and thus there is speculation it will hold value in the future. But with 35k+ supply expected, it's doubtful to make a major move this week.
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.
