NFT Morning Minute | Eggs, Art, and Memes
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
The most anticipated event of Thursday was likely RTFKT's Project Animus Egg drop, which did not disappoint, leading the volume charts with over 900 ETH traded and holding a 1.19 ETH floor price. So far 40 percent of the supply has been minted (~8,000 NFTs), and in predictable fashion, the Clone X floor has fallen. It now sits at 7.19 ETH (6.74 ETH on Blur), down 15 percent on the day and more than the value of the Eggs. The RTFKT team has stated this is just the beginning for Project Animus, and that holding an Egg is all you need to participate in that project, perhaps leading to some of the Clone X sell-off.
But while Eggs led volume, an arguably bigger story is from the generative art sector and Dmitri Cherniak's Light Years project. The Ringers artist's latest project completed its fair Dutch auction at 22 ETH for the 100 supply, and then it soared in secondary trading to 31 ETH (+40%). Dmitri's success translated into several other Art Blocks projects on the day, led by Gazers reaching a new ATH at 38 ETH floor (+12%). Meridians reached 11 ETH (+19%), and the latest Curated project Pre-Process is holding a 7.4 ETH floor (up ~50% from mint).
Other winners on the day included rektguy, reaching 0.6 ETH (+30%) on major sweeps, and lilPudgys up to 0.25 ETH (+26%) following the recent run-up of their big brother project Pudgy Penguins (now 3.44 ETH).
It was a major day of Web3 news, led by Stripe releasing a new fiat-to-crypto onramp feature allowing users to purchase crypto and NFTs directly with bank accounts, credit cards, or debit cards (without the use of any central exchanges). Magic Eden made a major announcement that it will be shifting back to protecting royalties with its newest Open Creator Protocol, which also includes dynamic royalty functionality and customizable token transfer controls for creators. Apple blocks Coinbase's latest app release, claiming Coinbase owed them 30 percent of the gas fees on their in-app transactions. And Tim Ferriss has set a price for his upcoming NFT project COCKPUNCH, which will be 0.3 ETH for the 5,555 supply set.
NFT Total Volume*
- RTFKT Animus Egg (922 ETH, 1.19 ETH Floor Price)
- 3D Invisible Friends (716 ETH, 0.59 ETH Floor Price)
- Light Years by Dmitri (532 ETH, 31 ETH Floor Price)
- Clone X (220 ETH, 7.19 ETH Floor Price)
- Abstraction by anon (210 ETH, 1.19 ETH Floor Price)
NFT Floor Price Increase*
- Abstraction by anon (190%, 1.19 ETH Floor Price)
- rektguy (30%, 0.6 ETH Floor Price)
- LilPudgys (26%, 0.25 ETH Floor Price)
- Meridian (19%, 11 ETH Floor Price)
- Gazers by Matt Kane (12%, 38 ETH Floor Price)
NFT Floor Price Decrease*
- 3D Invisible Friends (-27%, 0.59 ETH Floor Price)
- Clone X (-18%, 7.19 ETH Floor Price)
- RTFKT PodX (-16%, 0.24 ETH Floor Price)
- VeeFriends (-12%, 4.7 ETH Floor Price)
- HELIX Founder Pass (-12%, 0.68 ETH Floor Price)
Upcoming NFT Mints and Reveals
- The Memes by 6529 - Daria Klepikova (11:00 a.m. ET)
- Superordinary Friends x TRNZ (10:00 a.m. ET)
- Messi Time Machine: 2006 (11:00 a.m. ET)
- Art Blocks Presents: Ego Death (1:00 p.m. ET)
- Yxung Sneaks (3:00 p.m. ET)
Today is quietly a solid day of new releases, with The Memes by 6529 launching its latest card this morning and another Art Blocks drop. Today's Meme card will be "Cereal GMer" from Daria Klepikova, priced at 0.06529 ETH with ~630 available to be minted out of the 818 supply. With the Meme floor at 0.25 ETH, this will be an automatic 4x+ for minters with more upside, so expect a gas war for those on the allowlist.
Art Blocks remains hot, and today's Ego Death drop has a supply of just 222. With a final resting price of 0.14 ETH, this one is likely a profitable mint if it reaches near the bottom, but as always it depends on who mints the collection (holders vs flippers), and how collectors react to the early outputs.
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.
