Introduction

This week's NFT recap covers different metrics such as 7D top collections (via. highest trading volumes), 7D smart buys and sells, Opensea vs. LooksRare marketplace, 7 potentially smart plays, upcoming mints, and takeaways.

Our weekly recap aims to provide a more comprehensive overview of the NFT market and general sentiment of top-performing collections.

Top News

• Russia’s largest social media network, Vkontakte, announces NFTs' integration
• Sweep mode, Batch-selling function is live for Gem.xyz + integration with LooksRare Platform
• X2Y2 airdrop
• Mega Mutant BAYC reveal

Nansen’s New Price Estimator for NFTs

This week, we’ve launched our new feature: the NFT machine learning price estimator here. The Price Estimator looks at sales history and traits to estimate the most precise price available for any given NFT. It may be useful for identifying new opportunities and getting the best value possible, when buying and selling NFTs. Due to the depth of ML involved, we currently cover only three collections (BAYC, MAYC, Azuki and Doodles)

In addition to price estimation, users can now also see:

• Current price premium of any NFT (% value above the floor)
• Breakdown of the traits which most impact the price given
• History of ML price estimates
• Price distribution of estimates for all NFTs in the collection

7D NFT Market Overview

This week’s highlights

The 7D NFT Market Overview covers an outlook of market activity over the past 7-days. In the chart below, there are collections ranging from newer ones, to more historic collections that were deployed 200+ days ago.

In Top 7, we have these projects on the list:

• 3Landers
• NFT Worlds
• mfer
• Tubby Cats
• CatBloxGenesis
• Axie Infinity
• Azuki

3Landers is a 10k art-focused community-driven NFT collection by @3landboy and @NFTstubby.

Each 3Lander resides on the Ethereum blockchain as an NFT made up out of a unique combination of traits and underlying “DNAs”. Holding a 3Landers NFT makes you a 3Lander – a member of a world and community.

Based on the average price & volume since the 3Landers launch, they’ve gradually grown their average price & volume by 6.15% in the last 24 hours, and 92% in the last 3 days. This is impressive growth, considering that it has been 4-5 days since the collection launched.

• NFT Worlds just flipped MAYC via floor price.
• NFT Worlds is a prime example of projects that are forming and spearheading their own market structures based on intrinsic value.
• According to NFT Worlds, players have spent a total of 74k hours of playtime in a single NFT Worlds P2E test world in the last 16 days.
• There are around 75+ communities and 5000 players building their own metaverse and world on NFT Worlds.
• NFT Worlds is based on Minecraft’s open-source ecosystem which has 150m+ players.
• It is being built for cross-platform compatibility. They are building a Metaverse that’s accessible even if you’re at home on your PC, on the bus on your mobile phone, at Starbucks on your MacBook, or just playing PlayStation or Xbox.

• mfers has a tight-knit community of holders:
  • Plenty of memes in crypto twitter
  • Steady average price & volume (see chart below)
  • CC0 license (ability for community members to build on top of --- mfers - derivatives, new projects, etc.)

• Tubby cats is a collection of 20,000 algorithmically generated and hand-created NFTs on Ethereum.
• The collection also contains 69 one-of-ones, which are created by different artists on the team: each one-of-one has an attribute that displays the artist of each. Current mint for whitelist only and opens for 48 hours from 21/2 12PM EST. Public mint will open after whitelist mint, or whitelist spots that were not minted. Mint price is 0.1 ETH for both the whitelist & public sales.
• Tubby Cats is also under CC0 license, hence, anyone is free to make any derivative work (1/1s or any projects related to Tubbys).
• About 80% NFT holders are holding 1 NFT today. This is a healthy supply:holder ratio.

Daily Active Users on OpenSea vs. LooksRare

Key terms: New users = users making a transaction on OpenSea for the first time Retained users = returning addresses who have previously made at least 1 transaction

• Active users are decreasing on LooksRare platform. Observing from the chart above, it seems to be a downward trend in terms of daily active users (new + retained). Daily Active Users is a good indicator of organic growth in the platform, and LooksRare seems to be underperforming in reaching substantial mainstream adoption.
• In contrast, OpenSea is reclaiming its position after periods of instability over the past few weeks. The number of retained users who are making 1 or more transactions is on a rise, relative to its performance in the past few weeks.

Trading Volume on OpenSea vs. LooksRare

• NFT Daily Trading Volume on both OpenSea and LooksRare marketplace has declined significantly, showing a consistent decrease in total volume.
  • The daily transaction volumes on OpenSea almost halved since the start of February.
  • We are also seeing a slight resurgence on February 21st, however, it is unclear how long this trend will continue or if it is a short-term metaplay.
  • Volume is a good indicator of the overall direction and health of the market. It is a telling sign of whether:
    • Users are selling at significantly lower prices due to changes in market conditions
      • Discrepancies between buyers and sellers of overall NFT collections
      • Reduced performance/action in secondary sales

Smart Buys vs. Smart Sells Breakdown

Nansen Smart Money Labels

There are four types of NFT smart money labels on Nansen:

Smart NFT Trader - top addresses in realized NFT profits + top addresses based on our internal trader score metric. Smart NFT hodler - hodlers are the strongest of hands who can hold on to winning NFTs despite going through turbulence of possible massive losses. Smart NFT early adopters - top addresses that have invested in selected blue-chip projects before a specific date and are still holding. Smart NFT minters - top addresses that have minted and realized significant profits across multiple collections in the last 60 days.

If you are curious to know more, visit our Wallet Label Guide.

Note that 7D smart buy and smart sell breakdown is stacked by label types (smart NFT early adopter, smart NFT hodler, smart NFT trader, and smart NFT minter). Also worth noting is that in some cases, 1 wallet may overlap 2 labels.

When we dive into smart buys vs. smart sells breakdown on a 7D interval, this can be a good indicator to observe collections that are attracting long-term holders vs. collections that are a clear pump-and-dump scheme.

Here, in the 7D smart buys and sells breakdown chart, we can see that:

Mid hodls: TubbyCats (plenty of selloff activity from Smart NFT traders), Catblox Genesis, Elementals, 3Landers Strong sells: Cosmodinos, Infinite Realm

7 Potentially Interesting Plays to Watch

Note that these projects are projects that are highly raved about, and/or, projects that might be interesting plays, but only time will tell.

Disclaimer: Twitter followers can also be easily fabricated. It is becoming an increasingly common tactic for newer projects that are launching. However, we also consider other aspects such as community, possible narratives, etc.

Anata NFT consists of 1k female & 1k male Live2D Vtuber avatars, featuring hundreds of hand-crafted traits, emotes, outfits and more.

With Anata NFT + an extension by our partner team, one will be able to use their Anata with one-click MM wallet signing into browser apps like Google Meet, including voice modulation.

Category: PFP NFT

Froyoverse is a collection by Jessie Mori (known for her famous FroyoCats).

Froyo kitten is a community-driven NFT collection, consisting of 10,000 uniquely handcrafted and algorithmically generated NFTs on Ethereum.

Users can get whitelisted by submitting their fan art of Froyo Cats and uploading it on their discord and Twitter.

More details here.

Category: PFP NFT

Mono Locco is a animal-styled PFPs, styled by Dior, Dolce & Gabbana, and Burberry Stylist.

Category: PFP NFT and Fashion NFTs

Aneroverse is a anime-styled PFP collection.

Category: PFP NFT

San Coiffure Ladies is one of the world's first brand collaborative collections. They have an extensive roadmap with passive income opportunities. The mint date is also scheduled for International Women's Day.

Category: PFP NFT

Dippies is the epitome of funk meets Web3. The collection consists of 8,888 unique digital hippies that are building the new free world before our eyes.

“Each NFT acts as a membership card to allow entry into our exclusive members area: The Fire Pit. Earn exclusive rewards, giveaways and help shape the future of Dippies.”

90BabesNFT is an NFT collection focused on empowering and onboarding women in the space.

Category: PFP NFT

Tools for further research

1. NFT aggregators

   • Gem
     • 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.
   • Genie
     • 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.

2. Due diligence for minting

   • Nansen’s guide here
3. 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
4. NFT Marketplaces
   • Opensea
   • LooksRare
   • Rarible
   • Mintable
   • Mintbase
   • Zora
   • SuperRare
   • MakersPlace