NFT Morning Minute | Yuga Domination As BAYC Recovers

NFT Morning Minute | Yuga Domination As BAYC Recovers

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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NFT Total Volume

NFT Floor Price Increase

NFT Floor Price Decrease

Upcoming NFT Mints

Tyler Warner's NFT Market Summary

The Bored Ape Yacht Club was once again the center of attention in the NFT world on Tuesday, seeing the highest number of sales since The Otherside launch and rebounding 9 percent to 62 ETH floor. All of the BendDAO auctions cleared, which was seemingly the signal the market needed to buy the dip, and the fears of a 40 ETH BAYC floor are now long in the rearview mirror.

Total OpenSea trading volume on the day was 6,355 ETH, up for three days in a row, and dominated by the Yuga ecosystem. Five of the top six spots were Yuga projects, combining for over 7k ETH across marketplaces (Blur and X2Y2 were common marketplaces for BAYC sales). MAYC rebounded to 11.5 ETH (+13%), Punks and Otherdeeds held steady at 66.5 ETH and 0.91 ETH respectively, and BAKC surged to 4.79 ETH (+24%). Thus they led both volume and top movers on the day, as the market had a clear focus point.

Other notable movers included the DigiDaigaku ecosystem, with several floors up 10-45% ahead of today's airdrop and collaboration with Ether Orcs. Azuki and Cool Cats were each up 9 percent on the day as well, as portions of the PFP sector begin to rebound.

Other NFT news featured MetaMask rolling out a new product to protect users against phishing attacks, Ronaldo rolling out an NFT project on Binance, Bugatti offering BAYC luggage NFTs, Yuga Labs donating a Punk to Miami's Institute of Contemporary Art, and the Azurbala team hiring a creative director with experience from films like "Ice Age: Continental Drift."

NFT Total Volume*

  • Bored Ape Yacht Club (3,845 ETH, 63 ETH Floor Price)
  • Mutant Ape Yacht Club (1,552 ETH, 11.5 ETH Floor Price)
  • CryptoPunks (855 ETH, 66.5 ETH Floor Price)
  • Otherdeeds for Otherside (797 ETH, 0.91 ETH Floor Price)
  • Azuki (323 ETH, 9.55 ETH Floor Price)

NFT Floor Price Increase*

  • DigiDaigaku Heroes (45%, 3.59 ETH Floor Price)
  • Bored Ape Kennel Club (24%, 4.79 ETH Floor Price)
  • DigiDaigaku Dark Spirits (19%, 0.5 ETH Floor Price)
  • Cool Cats (17%, 2.1 ETH Floor Price)
  • Bored Ape Yacht Club (9%, 62 ETH Floor Price)

NFT Floor Price Decrease*

  • QQL Mint Pass (-13%, 10 ETH Floor Price)
  • KPR (-12%, 0.19 ETH Floor Price)
  • The GODA Mint Pass (-8%, 3.42 ETH Floor Price)
  • Murakami Flowers Seed (-7%, 1.15 ETH Floor Price)
  • Grumpls (-7%, 0.38 ETH Floor Price)

Upcoming NFT Mints and Reveals

  • SuperRare: RarePass (1:00 p.m. ET)
  • Art Blocks Curated "ORI" (1:00 p.m. ET)
  • Starborn (1:00 p.m. ET)
  • DigiDaigaku Genesis Adventure Key - Airdrop (TBD)
  • Zed Run Metaverse Cup Skin Reveal (TBD)

Today is the biggest day for new project mints and airdrops in quite some time. There are two major art projects releasing, with SuperRare's RarePass and a new Art Blocks Curated drop each going live today. Early speculation for RarePass was that they would sell for 30-40 ETH or more, but some recent chatter in the art collecting community has turned sour after it was realized that the artists are not receiving proceeds from the primary sale (instead going to SuperRare). That may impact the action today. 

In the Art Blocks world, liquidity is down and recent tailwinds have died down in the overall market downturn, so today will be a real test. Monday's Presents drop was botted and saw ~1 hour of secondary activity before drying up. If ORI is botted as well or seems to be minted primarily by flippers, it will hurt the secondary market as collectors have proven they are comfortable waiting days and weeks to buy. But if it falls under the radar today and reaches an approachable price under 1 ETH, it could have some nice upside. 

The DigiDaigaku airdrop is the other wild card, with the last Adventure Key reaching a floor over 1 ETH on the first day of trading, though it seems unlikely this 2nd go-around will have the same success.

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.

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