NFT Morning Minute | Valhalla Outshines COCKPUNCH
![NFT Morning Minute | Valhalla Outshines COCKPUNCH](/_next/image?url=https%3A%2F%2Fd2jfnp6ieh0n8b.cloudfront.net%2Fmedium_Morning_Minute_7c65ba4974.webp&w=1920&q=75)
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
COCKPUNCH was the talk of the town on Wednesday and led volume, but it was another recently hyped project which stole the show.
Tim Ferriss's NFT project debut with COCKPUNCH topped the volume charts with over 3,700 ETH traded, including $2.5M in the first hour of trading, though the price action was a bit disappointing. There were sales of 3-4 ETH prior to the Allowlist mint, the floor immediately fell to 1 ETH as supply came out, rebounded all the way back to 1.9 ETH at peak, and then slowly fell through the rest of the day and overnight to its current 1.1 ETH level.
The collection that stole the show? Valhalla, which traded 1,900 ETH in what might be classified as a bullish reveal. The floor was ~0.65 pre-reveal, immediately fell to 0.4 ETH on the reveal, then slowly climbed back up to its current level of 0.6 ETH - a very rare post-reveal surge. Top sales included 25 ETH for this Demon with mythical snakes, and there were 5 sales of 10 ETH or higher.
OpenSea was a winner in all this trading, seeing its highest volume day since Nov. 2 with 10k ETH volume ($12.5M). This was largely due to both Valhalla and COCKPUNCH restricting trading on the Blur platform, which is squarely in second place for NFT market share right now. Other top volume came from the standard Yuga sets, with BAYC and Punks now neck-and-neck at 65.4 ETH (BAYC) and 64.95 ETH (Punks). MAYC fell slightly on the day to 13.9 ETH, and $APE fell 4 percent to $3.8.
Generative art continues to have big movers every day, with Fake It Til You Make It (+48%), Contractions (+36%), and Friendship Bracelets (+12%) all posting solid gains. The Memes by 6529 are trending the opposite way though, with its floor now at 0.14 ETH as those who may have bought just 1 Meme to be eligible for the remaining Season 1 mints appear to be dumping.
In NFT and Web3 news, there is a new Constitution DAO spinning up for a second attempt at buying a printing of the U.S. Constitution at Sotheby's. The Floor App is officially live in the Apple App store and Google Play, furthering its mission to make NFTs more understandable and accessible. Steve Aoki and 3LAU have created a new CryptoPunks-inspired music group called PUNX, using their respective Punks as their alter-egos. And Moonbirds teased a sneak peek of their forthcoming Mythics coming this Friday.
NFT Total Volume*
- COCKPUNCH (3,770 ETH, 1.1 ETH Floor Price)
- Valhalla (1,907 ETH, 0.6 ETH Floor Price)
- Bored Ape Yacht Club (957 ETH, 65.38 ETH Floor Price)
- Mutant Ape Yacht Club (629 ETH, 13.93 ETH Floor Price)
- CryptoPunks (507 ETH, 64.95 ETH Floor Price)
NFT Floor Price Increase*
- Abstraction by anon (55%, 1.4 ETH Floor Price)
- Fake It Til You Make It (48%, 2 ETH Floor Price)
- Contractions (36%, 7.5 ETH Floor Price)
- PREMINT Pass (21%, 0.29 ETH Floor Price)
- FLUF World (19%, 2.55 ETH Floor Price)
- Cel Mates Crime Reports (+17%, 0.63 ETH)
NFT Floor Price Decrease*
- Dori Samurai (-41%, 0.49 ETH Floor Price)
- RTFKT PodX (-16%, 0.18 ETH Floor Price)
- Memes by 6529 (-15%, 0.14 ETH Floor Price)
- Psychedelics Anonymous (-15%, 0.64 ETH Floor Price)
- DigiDaigaku Heroes (-14%, 3.15 ETH Floor Price)
Upcoming NFT Mints and Reveals
- Rolling Stone Creators Collaboration - Volume 1 (3:00 p.m. ET)
- TopShot: Locker Pack (Release 13) (5:00 p.m. ET)
- Starbucks Odyssey - beta launch (TBD)
Today is likely a hangover day in the market after yesterday's volume surge. With most secondary buyers on COCKPUNCH now down on their trade, there likely won't be much rotation. Expect more sell pressure there, and maybe some more buy pressure on Valhalla after its bullish turn.
The Starbucks Web3 program launch in Odyseey today is very exciting, and one to monitor. They will be selling rare digital collectibles representing experiences, and those may trade at high premiums. It's unclear how users will have access to these collectibles though (other than through the current rewards program app), so it will likely take some time to learn the ins and outs.
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.