Introduction
This week's NFT recap spans across 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 the general sentiment of top-performing collections.
Top News
- Nansen introduces NFT indexes
- Link here
- Coinbase NFT adds Women Rise collection as new launch partner
- Link here
- Spotify hints at entering the metaverse
- Nansen introduces NFT indexes
- HASHv3 Metadata Thread
- Link here
- Doodle launches a new collection called Space Hoodles for OG holders
- Link here
Nansen’s New NFT Index
This week, we’ve launched our new feature: NFT Index. Nansen has designed six indexes to capture the NFT marketplace activities on the Ethereum blockchain. The group of indexes consist of Nansen NFT-500; Nansen Blue Chip-10; Nansen Social-100 index; Nansen Gaming-50 index; Nansen Art-20 index and the Nansen Metaverse-20.
The indexes are weighted according to the NFT collection’s market capitalization, which we have calculated using an adjusted 7-day mode price method.
NFT Market Overview
NFT Index (Trends)
Within the Nansen NFT-500 Blue Chip-10; Social-100; Gaming-50; Art-20; Metaverse-20, we can see the general trend of declining index points within the 30D interval.
- An overall decrease in index points suggests that the activity within all sectors combined (blue-chip, social, gaming, art, metaverse) is on a downward trend, perhaps due to inactivity in the general NFT space due to external factors (macro, interest, etc.)
- It is important to note that the indexes are weighted according to the NFT collection’s market capitalization, which we have calculated using an adjusted 7-day mode price method.
Further observing the market cap per category and daily market cap per category, the social category still takes the lead, with metaverse, game, and art following subsequently. Within the past week, the metaverse category has outpaced the gaming sector. Evidently so, we’ve been seeing land & real asset projects gain mainstream adoption, NFT worlds is a good example in this context. These are Minecraft worlds generated via open-source world generators and tokenized as NFTs. We will likely see a trend of more projects like NFT worlds surfacing within the space, leveraging the land & real asset narrative.
Despite the declining index point trend we are seeing (specifically in the sectors of social, game, and art), the metaverse sector seems to be crafting their own narrative.
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.
- This week, we have plenty of newer PFP collections in Top 4: Invisible Friends, Tubby Cats, 3Landers, The Doggies), followed by renowned collections like Mutant Ape Yacht Club, etc. Azuki’s floor dropped from 12 ETH, as mentioned in our previous NFT Weekly Recap Report #4 to 9.4 ETH at the time of writing. However, the volume traded for Azuki’s collection is still relatively high in comparison to other collections in the past 7D timeframe.
- Invisible Friends’s 0.25 ETH mint shot up to 14 ETH instantly with ~6000 ETH ($14.4M) traded in just 4 hours. Right after reveal, the floor dipped to 6.9 ETH, with unique addresses down 289, and 36 smart money holders. Invisible Friends is interesting, in a sense that the artwork is not a typical PFP NFT, hence, it is strategically harder for this project to earn memetic value in the crypto space. Most of the existing projects work well because of the social movement they have created in PFP collections. Hint: Azuki, BAYC, Cool Cats, etc. (Disclaimer: the price floor was highly volatile post-reveal, which attracted many paperhands)
- 3Landers was also mentioned in last week’s report, and this collection’s floor price held extremely well in the 7D timeframe, ranging between 1.68-1.7. 3Landers is hosting their first “campfire” today (March 2nd) for NFT holders. This is a thoughtful way to retain diamond hands and introduce new participants to the project.
NFTs in Sectors
Gaming
- P2E games takes the lead, followed by GameFi, RPG and others.
- ASMAIFAAllStarsBoxSet (P2E) has the highest market cap of 50,000 ETH. Altered State Machine is a decentralized protocol for creating ownership of an AI agent via an NFT. All-Stars are a collection of 40,000 football playing mini characters. They’re the first NFTs to receive non-fungible intelligence from ASM Brains.
- CyberKongz recently announced their game “Play & Kollect”, a fully on-chain game on the Polygon network, availing of almost negligible gas fees. “Play & Kollect” starts the bridge between all existing and future assets of the CyberKongz universe.
- Link to announcement here.
- Metroverse City Block is a land trading NFT strategy game on Ethereum. Collect, trade, and stake your city blocks to earn the MET utility token.
- This thread explains how to benefit from the MET utility token and the NFTs here.
- NFT Worlds’s floor price increased by 245% in the last 30 days, spearheading the metaverse/ NFT land narrative.
- Comparison of NFT Worlds with other metaverse gaming platforms like Sandbox’s LANDs, etc, here.
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 down only 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’s volume is between 50-60k users on a daily basis.
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
(Twitter)
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, you will be able to use your Anata with one-click MM wallet signing into browser apps like Google Meet, including voice modulation.
Froyoverse
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.
Shibuya.xyz
Shibuya is a web3 video platform allowing users to engage, fund, decide outcomes and become owners of long form video content.
This project is led by pplpleasr. White Rabbit is the first piece of media that will be launched on Shibuya, in which every episode will present alternative endings. User voting/staking will decide which direction the story will progress.
“Producer Passes” are ERC1155 NFTs that allow users to participate in the web3 experience. Users can mint producer passes that can be used to vote on their desired alternative ending (You may vote both sides if you have more than 1 pass).
Hawksight
NFTs are key to expanding the adoption of DeFi.
Debonair Degen Hawks is the most powerful DeFi-utility NFT on Solana, where holders get exclusive access to AI-driven trading signals & social signals, rarity-based HAWK token airdrops, & boosted yield DeFi vault yields
Supply: 7.5k
Mint date: March 4
Mint price: 1.75 SOL
**WL access for Nansen Alpha members
Muri NFT
Muri's roadmap just launched here.
Mint date: March 4
Dippies
Funk, meets Web 3. A collection 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.” (Info on Website)
Minting: March 2 (presale)
SCLadies
San Coiffure Ladies! One of the world's first brand collaborative collections. Women's supporter roadmap. Passive income opportunity.
Discord is live, plenty of giveaways ongoing.
Mint date: March 8
Useful Tools to Track Upcoming Mints
- Nansen’s ‘Mint Master’ Tool
- Rarity Tools
- ChaChang Daily NFT Tracker + Floor Tracker
- Ape O’ Clock
