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NFT Market Updates: NFT Sweeper and Moonbirds dominates the NFT market
Sandra Leow
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Top News

Nansen's new NFT features

  • Nansen’s New Smart NFT Sweeper function
    • Smart NFT Sweepers - addresses that have profitably swept (bought a certain no. of tokens from a collection in a single day, for at least a threshold ETH value) at least 3 different NFT collections, with a minimum of 5 sweepings.
    • Curious about our other Smart Money labels? Check out our dedicated Wallet Labels & Emojis guide: https://www.nansen.ai/guides/wallet-labels-emojis-what-do-they-mean
  • Related Collections for NFTs
    • This new feature shows which other NFTs are popular with the holders of a specific project, such as Bored Ape Yacht Club, Azuki, or Moonbirds, and what holders are minting, buying, or selling!
    • Do keep in mind that some of the lesser-known NFTs are airdropped to certain NFT holders for self-promotional purposes or even scams. So it's always best to check the 24H Latest Buy Activity table, which only shows buys initiated by the owners.

General NFT News

NFT Market Overview

The overall NFT market is looking healthy. Compared to the slight downturn in the market in early March, the total volume has been picking up (mint sales + secondary sales).

Looking at the wallet activity per week, we see similar signs of interest, with a significant increase in wallet buying and selling.

This Week's Highlights

Moonbirds

Moonbirds generated 113,900 ETH in volume over the past 7 days, with the floor price of 30 ETH at the time of writing. This collection currently dominates the NFT market, with 65% unique holders in the 10k collection.

With its “nesting” feature which will launch at the end of the month, there will be a major supply crunch in the collection. The founder also leaked some alpha in his latest podcast episode with Bankless:

  • 95% of the rewards will be the same for every bird, with exceptions for some birds with specific traits (E.g: Hoodie birds will get a physical hoodie at the end of the 3-month nesting period, while Chromie Squiggles with Chromie trait will get a xCopy 1/1 which will be raffled to holders, etc.).
  • The longer a user “nests” their Moonbird, the higher the utility. This helps to ensure that the value-add is given to long-term holders instead of offering a standardized utility package despite being new/ long-term holders.

    Nansen’s new “related collections for NFTs” feature allows you to see what Moonbird holders are minting and buying in the last 24 hours.

Steps: Go to NFT Paradise -> Click Moonbirds collection -> Click “Related Collections” here

24 Hour Latest Buy Activity Highlights:

  • The Association NFT by NBA. The floor was staggering at around 0.11 ETH in the secondary market yesterday, and the collection is currently trading at 0.40 ETH in the secondary marketplace today.
  • CREYZIES
  • WarKitten

Murakami.Flowers Seed

Murakami.Flowers is a work in which artist Takashi Murakami’s representative artwork, flowers, are expressed as dot art evocative of Japanese TV games created in the 1970s. The work is being developed with the number 108 as the keyword; a combination of 108 backgrounds and flower colors make up a field, and there are 108 fields. Each field has 108 flower images, resulting in 11,664 flower images in total. The number 108 is a reference to bonnō or earthly temptations.

Shinsei Galverse

Shinsei Galverse was mentioned in last week’s NFT weekly recap report. Shinsei.

As mentioned last week, this project is an 8.8k collection that explores the themes of beauty and fragility of life and tells the story of Gals shooting across the space to bring peace to the galaxy. The Shinsei Galverse is more than just a story - it is a groundbreaking media project. As a holder, you get to direct the development of the character design, story, and much more. This project is spearheaded by Emi (mum of a 9-year-old NFT artist Zombie Zoo).

The collection minted out ~2 hours during the whitelist period, and the team mentioned that they overallocated the whitelist slots by 20%. This was their response to the overallocation: “​​“hello there, we were super transparent about being oversubscribed by a small amount, which given the market we felt was fair, based on conversations we had with lots of different teams. we were honestly expecting there to be some form of public sale but the support from y'all has been unbelievable.”

The mint price was around 0.07 ETH and the collection has been ranging from 0.4-0.5 ETH post-reveal. The goal of the project is to collectively create an anime, in which holders will have the autonomy to help direct and create the overall story and direction of the anime.

VeeFriends Series 2

VeeFriends Series 2 is the latest NFT collection released by VeeFriends.

Total Supply of Each Character: 220 tokens (apart from Gift Gift, which will be 555)

  • 214 of which will all be 1/1 uniquely generated combinations of characters in one of six different poses, and in front of one of fifty-five Series 2 backgrounds.
  • 6 of which will be Character Spectacular 1/1’s: Bubble Gum, Diamond, Hologram, Gold, Lava, and one new addition to the Spectacular family to be announced soon.

Read more about the details of this collection here

Interesting Plays to Watch

Moonbirds and the term “Blue-Chip”

The Moonbirds launch was a historic feat for NFTs. The collection has generated over ~90k ETH alone in secondary sales on OpenSea after merely 5 days post-launch. It has outpaced any other collections in terms of post-launch volume and floor price, even outrunning Azuki’s current floor price of 23 ETH.

Looking at the short-term perspective, the value of the Moonbirds collection is a resemblance to Azuki and MAYC in terms of floor price. At the time of writing MAYC (33 ETH floor) vs. Azuki (24.5 ETH) vs. Moonbirds (30 ETH) floor. At this current stage, most regular buyers are priced out of these collections, and the term “blue-chip” is becoming harder and harder to define. Previously, it is easy to denote a collection as “blue-chip” status when we consider factors such as long-term increase in floor price, historical status in terms of art and community, and its relevance compared to other projects in the space. However, what constitutes the term “blue-chip” is still unclear, and Moonbird seems to be defying all else when it comes to expectations and its consistent growth in floor price.

The rise of Coinbase’s marketplace

It will be interesting to observe if the Coinbase marketplace will direct users away from notable platforms like OpenSea and LooksRare.

Upcoming Projects Highlights

Ragnarok

Ragnarok just announced its official mint date which will be happening on April 27, 2022.

Nansen Alpha members were also given slots to qualify for their whitelists, for those who have not submitted their wallets, please do so in Ragnarok’s #pixel channel on Discord.

Ragnarok aims to be a bridge between the virtual and the real world, incorporating a compelling storyline, ownership, and social metaverse. The gameplay experience will be multiplayer and will revolve around a series of experiences via in-game characters, trading items, and participating in quests. Currently, the game demo is live, but once the first layer of the game launches in May, users will be able to use their NFTs in the gameplay. The team also mentioned that the “fun” will begin after the NFT mint and the NFT acts as the very first layer to an exciting chapter ahead for Ragnarok.

Try the game demo here

Anata NFT

Anata NFT is pioneering the next generation of NFT avatars. Anata is a collection of Live2D VTuber NFTs.NFT owners will be able to create their own online identities and preserve their privacy with one of the unique Anata characters.

Anata can seamlessly integrate VTuber identities with Web3 wallets through a browser extension called Hologram, which allows users to use their Anatas on virtually any given platform.

The Anata NFT collection constitutes 2000 VTuber avatars which have a 50:50 split of masculine and feminine-looking characters - unlike most collections that are primarily one or the other.

The collection is minting today via a dutch auction of a minimum price of 0.25 and each wallet can bid up to 3 times.

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

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Disclosure: The authors of this content and members of Nansen may be participating or invested in some of the protocols or tokens mentioned herein. The foregoing statement acts as a disclosure of potential conflicts of interest and is not a recommendation to purchase or invest in any token or participate in any protocol. Nansen does not recommend any particular course of action in relation to any token or protocol. The content herein is meant purely for educational and informational purposes only and should not be relied upon as financial, investment, legal, tax or any other professional or other advice. None of the content and information herein is presented to induce or to attempt to induce any reader or other person to buy, sell or hold any token or participate in any protocol or enter into, or offer to enter into, any agreement for or with a view to buying or selling any token or participating in any protocol. Statements made herein (including statements of opinion, if any) are wholly generic and not tailored to take into account the personal needs and unique circumstances of any reader or any other person. Readers are strongly urged to exercise caution and have regard to their own personal needs and circumstances before making any decision to buy or sell any token or participate in any protocol. Observations and views expressed herein may be changed by Nansen at any time without notice. Nansen accepts no liability whatsoever for any losses or liabilities arising from the use of or reliance on any of this content.