NFT Morning Minute | Yuga Saves Christmas
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
Yuga Labs stole the show in the early evening on Tuesday with their blockbuster announcement that the Trial of Jimmy the Monkey would start today. Today will feature a short film to kick off the next chapter of their roadmap, and a playable, interactive mint is promised for January. The mint features a tiering system with four different levels, and BAYC/MAYC owners also holding BAKC can reach higher tiers.
This news sent the Yuga NFT market into a frenzy. BAKC jumped a whopping 33 percent to an 8 ETH floor on 4,000+ ETH volume, while BAYC and MAYC each jumped 4-8 percent to 67.3 ETH and 14.9 ETH respectively. ApeCoin, which was also teased as an optional spend mechanic tied into the mint, spiked briefly on the news but is even this morning at $3.55.
Yuga was not the only major project or founding team making headlines on Tuesday. The Wolf Game full Woolpaper is now released, describing a "hybrid Web 3 / Web 2 architecture" with gameplay occurring off-chain while NFTs remain onchain. Those NFTs were mostly even on Tuesday, with the spike coming late Monday night, but remain at local highs led by Wolves which saw several 30+ ETH buys.
And Punk6529, the founder of their namesake Memes by 6529, announced the launch of ReMemes as an expansion mechanism for 2023. Artists and community members will be able to create derivatives of the memes, formally within the ecosystem now, in a move the founder likened to an Art Blocks-like "Playground" or "Factory" expansion. Some details are still in flux and more will be released today.
Some notable losers on the day were led by Trump NFTs, which continued their slow decline, now at 0.18 ETH (-26%). Mutant Hound Collars dipped 15 percent to 0.55 ETH in somewhat of a surprise ahead of this morning's reveal at 8 a.m. ET. And Cool Cats fell 11 percent back to 2.58 ETH.
In other NFT and Web3 news, Frank DeGods teased a Christmas experience for y00ts and DeGods holders. The Tiffany's CryptoPunk pendants have finally been revealed, and gmoney's 9dcc ITERATION-02 redemption is live. And Polygon co-founder Sandeep Naiwal has launched a new Web3 Accelerator called Beacon to launch the next 100 Web3 unicorns.
NFT Total Volume*
- Bored Ape Yacht Club (6,119 ETH, 67.3 ETH Floor Price)
- Bored Ape Kennel Club (4,426 ETH, 8 ETH Floor Price)
- Azuki (3,617 ETH, 11.5 ETH Floor Price)
- Mutant Ape Yacht Club (3,027 ETH,14.9 ETH Floor Price)
- Moonbirds (2,128 ETH, 7.4 ETH Floor Price)
NFT Floor Price Increase*
- Implications (65%, 1.5 ETH Floor Price)
- Bored Ape Kennel Club (33%, 8 ETH Floor Price)
- Rug Radio Genesis (33%, 0.4 ETH Floor Price)
- Friendship Bracelets (15%, 0.276 ETH)
- Valhalla (12%, 1.3 ETH Floor Price)
- Creepz (11%, 2.1 ETH)
- Terraforms (11%, 2.88 ETH Floor Price)
NFT Floor Price Decrease*
- Trump Cards (-26%, 0.18 ETH Floor Price)
- Mutant Hound Collars (-15%, 0.55 ETH Floor Price)
- Cool Cats (-11%, 2.56 ETH Floor Price)
- Helix Founder Pass (-17%, 0.35 ETH Floor Price)
- Invisible Friends 3D (-5%, 0.3 ETH Floor Price)
Upcoming NFT Mints and Reveals
- Mutant Hounds - reveal (8:00 a.m. ET)
- RTFKT x Division Street AR Helmet (12:00 p.m. ET)
- AB x Pace "Floating World Genesis" (12:00 p.m. ET)
- Passengers (TBD)
Yuga likely stole some of the Mutant Hounds thunder with their Trial announcement yesterday, but still expect some major attention on the reveal this morning. With the Hounds having some Megas as rares, there should be a solid rare lotto and we may see sales over 20 ETH on the top-end (though the floor is likely to dip, as always post-reveal).
The Art Blocks drop today from A. A. Murakami "Floating World Genesis" is the drop of the day. At just 250 supply, it is a bottleneck candidate for those building Pace sets, and there will be major attention on this drop. The risk is that if mints out too high, as several recent AB mints have. If it somehow flies under the radar, it's likely a slam dunk mint. As always, entry price and who is minting are incredibly important in determining the near-term price action.
Enjoy this write up? Follow me on Twitter @tyler_did_it or reach out via email tyler.warner@luckytrader.com.
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.
