Top News
- OpenSea announces SeaPort protocol
- Bored Ape Yacht Club announces second Ape Fest, scheduled for June 20 - 23 in NYC
- ApeCoin DAO is rumored to be considering migrating APE to Avalanche or Flow
- Singapore’s High Court has blocked the sale of Bored Ape #2162 in legal dispute
- OpenSea has disabled the NFT on their platform
- Universal Music Group to release NFTs on LimeWire’s Algorand marketplace
- Getty Images to launch first NFTs on Palm through Candy Digital
- Dana White partners with Pixel Vault to create comics, content, and blockchain-based games
- Beeple’s Twitter account was hacked
- The hacker was able to conduct a phishing scam by linking a website to the account
- Over $70k in crypto was stolen
- Moonbirds team airdropped Moonbirds Oddities, their secondary collection, to holders
eBay Launches First Collection of NFTs in Partnership with Green Web3 Company OneOf
NFT Market Overview
Volume per week
Main observations:
- Weekly volume measured in ETH has seen a drastic decrease in the past week, falling to levels not seen since December of last year.
- This week’s volume is a continuation of a steady decline in activity from market participants over the past month.
- While aggregate weekly volume is down, we’ve seen a spike in the number of transactions from last week.
- This could have been caused by the recent trend of flipping Solana-copycat projects, Solana-based projects, as well as lower-tiered PFP projects - all of which are generally lower in floor price, therefore not reflecting on the volume profile as significantly.
- All the top 10 projects within the Blue Chip Index, except for Veefriends, have witnessed a decrease in their floor price ranging from -3.35% to -18%.
OpenSea vs. LooksRare
Daily active users on OpenSea and LooksRare have held steady for the past week. Though trading volume measured in ETH has seen its lowest week this year, trading volume measured in transactions for OpenSea has seen a slight uptick while LooksRare remains flat over the week.
LOOKS reward emission cuts have been live for 2 weeks but no noticeable material drops in relative users or volume can be seen.
This Week’s Highlights
Goblintown
Amid overall market downturn, Goblintown NFTs have their moment. The key components of the NFT collection is the emphasis on “no utility, no roadmap, no Discord community, and no endorsements”. Goblintown NFT collection was a free mint and the team still remains undoxxed. There are some speculations around the collection being related to the creators of BAYC, however, nothing has been confirmed or proven yet.
Other highlights:
- Chimpers
- Moonbird Oddities
Smart Money Movements
7D Smart Buys:
- NotOkayBears (32 Smart buyers)
- PXN:Ghost Division (22 Smart buyers)
- Baby Okay Bears (15 Smart buyers)
Otherdeed for Otherside (12 Smart buyers)
Upcoming Projects Highlights
Third Eye Club
Third Eye club is a social PFP project which also aims to expand their value creation and brand identity through clothing, art, and culture.
- Mint date: May 27
- Category: PFP
Akumu Dragonz
Akumu Dragonz is the second collection from their genesis collection on Solana, BoryokuDragonz.
- Mint Date: May 31
- Category: PFP
LonelyPop
LonelyPop is a cartoon-style PFP collection consisting of 10,000 avatars created by BushRobins and 0xStudio.
- Mint date: TBA
- Category: PFP
Webaverse NFTs
Webaverse is building an open source OS for the Metaverse on the web which creators and communities can use to tell interoperable immersive stories (2D, 3D, VR): fun gameplay, interoperable, X-Platform, feature packed (AR, VR and AI), and with native web3 integrations. They are launching with Upstreet (Season 1) which is a sci fi experience in which stories/virtual worlds/game from different creators and communities become part of a larger story which progresses in seasons.
- Mint date: TBA
- Category: Land/Metaverse
World Overlay
World Overlay is a community-driven web3.0 virtual worlds platform, which seeks to truly empower the creation of immersive, high-quality user-generated virtual content, filled with social, gamification and ecommerce elements.
- Mint date: TBA
- Category: Metaverse/Game
Ultiverse
Ultiverse builds the social gaming metaverse, connecting the Web3 to an immersive, fully VR compatible virtual world, and finally creates a unique MetaFi.
- Mint date: TBA
- Category: Metaverse/Game
Solana NFTs
NFT Market Overview
Solana’s total NFT market cap has increased slightly from the previous week, sitting at $1.38b. However, its 7D volume has decreased by about $7m, sitting at $65.7m.
Interestingly, 7D volume across all marketplaces has seen a downturn, with the exception of Coral Cube. Magic Eden recorded a slight drawdown while Solanart and OpenSea saw around 50% decreases in their 7D volume. In the same timeframe, Coral Cube saw a 1200% increase in 7D volume - from ~5000 SOL to 60000 SOL. This could be attributed to Coral Cube immediately listing the Trippin Apes collection even before it had minted out, which brought in large amounts of volume for them since it was an extremely hyped mint.
Overall number of active wallets have also increased for Magic Eden, OpenSea and Coral Cube, signaling continued interest in the Solana NFT space.
Top 10 by 7D Volume
This week, we see many familiar projects helming the Top 10 rankings by 7D volume. New entrants includes hyped projects like Trippin’ Ape Tribe and Bunnies N Homies Club
- Trippin’ Ape Tribe taking top spot did not really come as a surprise. The project was incredibly hyped, with a staggering 380k followers even before the mint (of course, it is difficult to determine how legitimate follower numbers are, as followers can be bought).
- The project was launched yesterday and shot up to 85 SOL post mint. It currently sits at a floor price of 56.9 SOL.
- Reptilian Renegade saw a significant dip in floor price from ~40 SOL to 5.5 SOL. This is attributed to the founder coming clean as the person behind the Balloonsville NFT project which rugged.
- The project is now under the custody of Hydra Launchpad, the platform which the project minted from. Despite this, confidence in the team has taken a hit and may take a while for it to flow back.
- Okay Bears, DeGods and Cets on Creck remain as the top projects in terms of volume for the third week running. These NFTs have the highest community reach among Solana NFT projects on Twitter, which could have contributed to strong demand for these NFTs in the midst of new collections.
Top 10 Sales (24H)
Unsurprisingly, Trippin’ Ape Tribe recorded 6 out of 10 top sales in the past 24H. It is impressive for a project to record such high sales within 2 days of their launch, so it will be interesting to see how it progresses in the next few weeks.
DeGods are also making moves, possibly due to the announcement of Duppies NFT, a DUST only mint which has renewed attention and hype surrounding the project.
Upcoming Projects Highlights
Jikan Studios
Jikan Studios is a PFP collection consisting of 8,888 NFTs powered by TROOP. The collection will be launching on Solport.
- Mint date: May 29
- Category: PFP
Great Goats
Great Goats is a collection of 10,000 NFTs. The Goatmap is powered by 4 core values: Narrative, Lifestyle, Value and Craft.
- Mint date: June 5
- Category: PFP
Duppies
A second collection from the DeGods team. Duppies is a collection of 13,333 NFTs. All DeGods holders will be guaranteed to mint 1 Duppie. The mint price will be 375 DUST.
- Mint date: June
Category: PFP
Bubblegoose Ballers
Bubblegoose Ballers is the second collection from WAGMI Beach. It consists of 10,000 NFTs.
- Mint date: TBA
- Category: PFP
Upcoming Narratives/Meta
"WL" Meta
Hyped projects pre-mint continues to excel in the Solana NFT space. The newer projects like Okay Bears and Trippin’ Ape Tribe have similar attributes prior to its launch.
Both projects have over 100k followers on Twitter and at least 50k members in the Discord. The projects also engaged with many Solana NFT influencers to give away WL slots, increasing attention for these projects. WL slots given out were aplenty, such that there was very little left for the public to mint, possibly a strategy to get more people to FOMO when it comes to the secondary market.
Upcoming projects like Jikan Studios and Great Goats seem to follow a similar trajectory - which is something to look out for, based on the performance of these two launched projects.
Tools for further research
NFT aggregators
- Gem recently launched on January 20.
- Gem allows users to explore and collect NFTs across all the marketplaces on a single interface, giving you a birds-eye view of the market - ensuring you never miss out on a good deal.
- Batch buy & list NFTs across all major marketplaces in a single transaction. Save time & gas.
- Genie was technically the first NFT aggregator in the NFT space.
Hyperspace (Solana)
- Hyperspace allow users to explore and collect NFTs across all the marketplaces on a single interface
- Hyperspace allows users to track floor prices and volumes of NFT projects
Due diligence for minting
- Nansen’s guide here
Wallet management + tracking
- NFTBank.ai
- This platform is a leading platform for tracking your NFT inventory
- Zapper
- Zapper is a good tool for tracking an overview of your NFT portfolio
- Solsniper.xyz (Solana)
- This platform allows you to track floor prices, volumes and an overview of your NFT portfolio
- NFTBank.ai
NFT Marketplaces
