NFT Morning Minute | Trump Falls, Lascaux Rises
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
It was a wild weekend in the NFT markets, with the Trump Digital Trading Cards taking NFT Twitter (and maybe the world) by storm. The project soared in trading on Saturday, reaching a peak of over 0.8 ETH (~$1,000), a near-10x from its $99 mint price. There was speculation that a big driver in the surge in price was that several Trump NFT holders would find it difficult to list the NFTs for sale on Polygon (requiring WETH + MATIC for gas, plus an understanding of the listing process). But even with half of the supply in wallets without enough gas to list, the floor came back to earth on Sunday, falling to the 0.3 ETH level (-40%).
While Trump NFTs were falling, a mysterious artist named Lascaux (with speculation of ties to Banksy) sent the digital art market into a frenzy with some intriguing burn mechanics and game theory. There are now 7 editions in the set (out of a now expected 10), with a floor price of 0.14 ETH (Erekt) and a top-end price of 20 ETH (Hookt). The Fukt edition seems to be the primary "currency" fueling the burns, used three times now in the creation of new editions. Fukt was an open edition mint at 0.01 ETH and is now at 0.174 ETH (a 17x). This will be a primary project to watch ahead of a big reveal of some kind coming on Christmas day.
There were a few other winners on the weekend. Valhalla saw a nice rebound to 1.2 ETH, up 40 percent from its local bottom. The Bored Ape-adjacent Mutant Hounds, with ties to the Mutant Cartel DAO and notable holder Lior, sold out their full supply in allowlist at 0.25 ETH, then doubling on the secondary market to a 0.58 ETH floor. Friday's Art Blocks drop "Implications" jumped 90 percent on Sunday to 0.95 ETH. And Terraforms Mathcastles jumped 36 percent to 3.1 ETH on some news of a growing "multiplayer Art World."
In other market news, total NFT trading volume came in at ~21.5k ETH on Saturday and ~19.5k ETH on Sunday, with Blur capturing 55-60% market share. The Wolf Game project ended Alpha Game and dropped its Woolpaper ahead of a pending launch of The Full Game expected this week. The digital payment platform Flexa has added ApeCoin integration. And Coinbase debuted custom digital greeting cards for the holidays.
NFT Total Volume*
- Bored Ape Yacht Club (3,334 ETH, 64.4 ETH Floor Price)
- Clone X (1,353 ETH, 5.89 ETH Floor Price)
- Mutant Ape Yacht Club (1,322 ETH, 13.9 ETH Floor Price)
- Trump Digital Trading Cards (943 ETH, 0.3 ETH Floor Price)
- Doodles (893 ETH, 6.55 ETH Floor Price)
NFT Floor Price Increase*
- Lascaux Editions (150%, 0.133 ETH Floor Price)
- Implications (90%, 0.95 ETH)
- Mathcastles (36%, 3.13 ETH Floor Price)
- Valhalla (35%, 1.2 ETH Floor Price)
- Doodles Dooplicator (17%, 0.88 ETH Floor Price)
- The Plague (17%, 0.39 ETH)
- Memes by 6529 (+14%, 0.16 ETH)
NFT Floor Price Decrease*
- Trump Cards (-41%, 0.3 ETH Floor Price)
- Nanopass (-41%, 0.23 ETH Floor Price)
- JUUNI (-31%, 0.24 ETH Floor Price)
- goblintown (-7%, 0.57 ETH Floor Price)
- Otherdeeds (-6%, 1.28 ETH Floor Price)
Upcoming NFT Mints and Reveals
- Lascaux Editions - Tikd burn to redeem (live)
- Art Blocks Presents: Volute (1:00 p.m. ET)
The Art Blocks Presents drop "Volute" will be the likely drop of the day, with just 200 supply and some nice aesthetics. The success of Friday's "Implications" drop, now up 200 percent from its 0.3 ETH mint, means today's drop will catch more attention from botters and flippers. That puts it at risk of mining out too high, which hurts the trade potential, so tread carefully.
The most exciting ecosystem to watch right now is likely Lascaux's, which had a new burn-to-redeem mechanism announced late last night for Tikd, open another 4 hours. There will likely be another burn or twist of some kind announced later today, as the editions continue to jostle in supply and value. While Fukt is proven to be a major currency, Hakt is the wildcard, now used for two burns already, and if used in a third, it will cement its place as a foundational edition.
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.
