Top News
- Chinese Tech Giants Alibaba, Tencent to require ID checks for NFT purchases
- Otherside announces 2 load tests and a First Trip tech demo of their platform for Otherdeed holders
- The demo is scheduled for July 16 (only for desktop and laptop devices)
- Demo video here
- RTFKT releases CloneX 3D files and outlines commercial rights for the collection’s holders
- Commercial rights outline here
- However, Murakami Drop Clones do not have full commercial rights
- Sandbox News
- Alpha Season 3 coming in the summer
- Sandbox integrates with Coinbase Wallet
- OpenSea News
- Co-Founder Alex Atallah steps down but will remain on the company’s board
- OpenSea suffers email data breach
- The platform announces a launchpad experience, with Zoonies as the first partnership
- Sorare signs Mbappe
- Justice Department announces enforcement action charging six individuals cryptocurrency fraud
- Tomorrowland and Magic Eden partner for Festival NFT
Raises
- NFT Brands ($2.5M) | A Web3 development company providing end-to-end metaverse & NFT solutions for brands & creators
- Fitmint ($1.6M) | Web3 app where users can earn rewards in cryptocurrency and NFTs by working out — with participation from General Catalyst, iSeed II, DWeb3 Capital, 1947 rise, Polygon Studios, and Kearny Jackson
- NFTEye ($1.6M) | Actionable NFT Analytics — with participation from Sky9 Capital, IMO Ventures, NGC Ventures, Smrti Lab, and Old Fashion Research
NFT Market Overview
Volume per week
Main observations:
- Volume measured in ETH entering the first week of July has seen a small uptick compared to the previous week but still remains the second lowest volume week for NFT sales YTD. The overall trend in the recent months still pales compared to earlier this year.
- Transactions per week has seen a steady rise in July and appears to be recovering though still very far from ATHs.
- The increase in transactions can be largely attributed to a rise in minting activity and OpenSea transactions. Mints increased from 77k to 99k and transactions on OpenSea increased from 304k to 359k.
- The Blue Chip- 10 index has seen a small decline over the past week and is overall up 18% YTD measured in ETH terms but down 61% YTD measured in USD terms.
- Veefriends and Azuki were the clear leaders with its floor prices up 7.28% and 6.45% respectively while Bored Ape Yacht Club and Mutant Ape Yacht Club achieved modest gains; 3.69% and 3.64% respectively.
NFT Index Performance

Main observations
- In the last 7 days, the Art-20 and Game-50 Index have continued to outperform its peers and is up 19.6% and 21.7% measured in ETH terms respectively.
- The Blue Chip-10 and Art-20 Index have seen strong price performance in the last 30 days presumably because of a flight to quality blue-chip assets and fine art.
- Every index is up YTD except for Game-50 which suffered a -52% drawdown.
An article on the composition of the indexes and its calculations can be found here.
This Week’s Highlights
Ethereum Name Service (ENS)
For the very first time in history, ENS topped the OpenSea charts as #1. In the past 7 days, ENS generated 8375 ETH in volume. Average price of ENS names at 0.0566 ETH, with “000.eth” sold for 300 ETH on 2 Jul. Many see ENS as a claim to their web3 identity which is important in the social aspect.
Bored Ape Yacht Club & Otherdeed for Otherside
Yuga Labs announced their highly anticipated load test demos before the First Trip tech demo. If you are a holder of the Otherside NFT, you can attend their 2nd load test demo on 7/9 @ 12PM EST. If the load tests are successful and up to par with the standards held by Otherside/BAYC/MAYC holders, this could be a major catalyst for the Yuga Labs ecosystem.
Moonbirds
Moonbirds had a decent climb-up in price over the last few days, with the floor price reaching 30 ETH. Ryan Carson’s 121G NFT Fund swept up 34 Moonbird NFTs for a total of 749 ETH (~930k). At the time when the Moonbirds were being swept up, the floor price was ranging at 18-23 ETH. There were speculations of an insider trading incident, however, those were just baseless claims and speculations that we are unable to verify.
Smart Money Movements
With ENS being all the rage in the past week, it is unsurprising that ENS domain names topped this week's Smart Buys chart in terms of unique Smart Money buyers, with 14 different buyers in total and 49 ETH in volume. This week, we've seen the largest 3-digit domain purchase of 300 ETH for 000.eth. Other collections with relatively high volume and unique Smart Buyers this week include WizNFT and God Hates NFTees.
Looking into the Smart Money activity on ENS domain names over time, all Smart Money label categories (including Smart Minter, Sweeper, Early Adopter, Hodler, and Trader) have been consistently trending upwards. Smart Minters (yellow) have had the steepest incline recently, suggesting heightened interest in minting new domains.
Additionally, there has been significant activity buying from Smart Buyers in the past week. However, there have also been many new domain listings by Smart Money, which may be due to investors wanting to realize some profit from the recent run-up in price action.
Upcoming Project Highlights
POTATOZ by MemeLand
(Twitter)
POTATOZ is the PFP/Avatar collection for the MemeLand ecosystem developed by 9GAG.
Premint link here.
Memeland
(Twitter)
Memeland is 9GAG’s first NFT collection.
9GAG has a global audience of 200 million, across our website, apps, Instagram, Facebook, Twitter, and TikTok.
9GAG is backed by First Round Capital, Freestyle Capital, Greycroft Partners, True Ventures, Y Combinator, 500 Startups, and more.
Souls Galaxy
(Twitter)
Souls Galaxy is a 2D interactive animation and music NFT from renowned singer SIA. The NFT reacts based on the user's mouse movements. The NFT will also express SIA’s vocals when tapped on.
Mint date: July 12, 2022
Solana NFTs
Solana NFTs are now supported on Nansen! Check out our quick report on how you can utilize the dashboards here.

Solana’s NFT market cap currently stands at $835m, a significant decrease from $855m just 2 weeks ago. 7D volume has been decreasing for 3 weeks running, possibly due to mint fatigue and general bearish sentiments. Mint volume has decreased by around 50% from 2 weeks ago, signaling a lack of interest in new mints perhaps due to the lack of quality.
Magic Eden continues to dominate NFT volume on Solana with 7D volume of 415k SOL, while OpenSea and other marketplaces only garnered around 13k SOL in total. Despite falling volumes, the number of users still remains relatively similar to Dec’ 21/Jan’ 22 levels which is a good sign. The number of transactions have decreased as compared to the previous weeks but still remains higher than Dec’ 21/Jan’ 22 levels which is thought to be the ‘peak’ of the general market.
Top Projects by 7D Volume
- Volume continues to be concentrated in newer projects more than half of the top projects by 7D volume has been deployed less than 9 days ago.
- Degen Degen has done 66k SOL in volume since launching almost a week ago, 3.5x more than the second project ranked by 7D volume.
- Okay Bears has seen a slight resurgence in volume and price, likely attributed to the long-awaited Welcome Pack being released for holders to claim.
- Hibernation is also happening on July 18th, whereby holders will be rewarded with a Bear Drop; more details will be released closer to the date.
- Gothic Degens (GD) has gained significant traction in the past week, with the floor price rising from 2.5 SOL to 9 SOL.
- The project launched as a ‘degen mint’ for 0.069 SOL just 3 weeks ago and has delivered utility in the form of several airdrops to holders.
- Airdropped collections - Gothic Ghosts and Gothic Goofy Gorillas have done relatively well, sitting at around 4-5 SOL.
- Holders will be airdropped a Gothic Goblet which allows them to ‘gothify’ existing Solana NFTs such as DeGods, Okay Bears, Primates etc.
This Week's Highlights
Degen Degen/Degen Town

The collection launched as a stealth mint and has done well despite not having many details surrounding the project. Significant hype was driven by Magic Eden promoting it on Twitter and the collection sold out in 2 hours despite mint price being priced rather high at 3 SOL.
Since then, the project has not revealed much details about the roadmap. Much of the details are cryptic tweets about a ‘sacrifice’ event whereby NFTs are sent to be burnt. A total of 4315 NFTs have been burnt, which is more than half the supply. There are no concrete details as to what this event would entail, other than the message of “The dead would be resurrected”.
Floor price has been growing steadily to double digit SOL price in the past few days. From the chart - the spike in average price on July 5th could be attributed to a singular buyer - “FK83qW” who bought 4 NFTs from the collection in the range of 136 - 199 SOL, more than 10x of the floor price at that point in time. All of the NFTs were sent to “GAVhJ6” which holds 504 Degen Degen NFTs. It would be important to keep track of this wallet as it currently holds over 13% of the circulating supply of this collection. Any movement from this wallet could significantly affect the price since it could dump a large amount of NFTs at one time. Track the wallet using Nansen’s Wallet Profiler here.
Therefore, much of the price action on the project has been speculative of what the team could deliver and much remains to be seen for further growth of the project.
Upcoming Project Highlights
Degen Fat Cats
(Twitter)
Degen Fat Cats is a collection of 20,000 NFTs by Degen Coin Flip (DCF). The project serves as a fractionalization of DCF since the OG collection has a low supply of 555 and is almost impossible to buy on secondary. Utility of a Degen Fat Cat would be the same as DCF, just that payouts would be of lower value due to larger supply.
Mint date: July 19, 2022 Price: 9.99 SOL
Duppies
(Twitter)
A second collection from the DeGods team. Duppies is a collection of 15,000 NFTs. All DeGods holders will be guaranteed to mint 1 Duppie. The mint price will be 375 DUST.
Mint date: July 31, 2022
Taiyo Pilots
(Twitter)
Taiyo Pilots are a community-driven and lore-driven NFT project and are introduced as an extension to the Taiyo Robotics Universe. The Pilots utility will be a form of social staking that allows you to get graphite opportunities and access to the Taiyo incubator launches in the form of whitelist spots. There are a total 12,000 NFTs - Taiyo Infants and Taiyo Oil holders will be airdropped one Taiyo Pilot NFT.
Pacer
(Twitter)
Pacer is a wellness-to-earn app that rewards users for sleeping, practising mindfulness or exercising consistently. The project is backed by notable investors such as FTX Ventures and QCP Capital. Giveaways and access to discord can be won through Pacy NFT’s Twitter.
Tools for further research
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.
- Hyperspace (Solana)
- Hyperspace allows users to explore NFTs across all marketplaces on a single interface
- Gem
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)
- Solsniper allows you to track floor prices, volumes and an overview of your NFT portfolio
- NFTBank.ai
- NFT Marketplaces
- Opensea
- LooksRare
- Rarible
- Mintable
- Mintbase
- Zora
- SuperRare
- Magic Eden (Solana)
- Solanart (Solana)
- Coral Cube (Solana)