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New projects minting & Some interesting news

April 29, 2022 | ± 6 minutes

CONTENTS:

  • Our analysis of the NFT market for the year & for the week
  • All you need to know about any current drops
  • A heads up on any cool projects we think are worth checking out
  • Industry news update

Let’s go!

NFTs in 2022

The 30-day daily sales volume chart on Nonfungible.com shows that daily sales on Saturday, April 23rd, reached $68 million, the second-highest total in the last three weeks.

The market shows signs of life with a consistent rise in volume as daily trading has gone above $45 million in sales every day since April 20th. By comparison, daily sales volume didn’t top $37 million from April 6 to April 17.

NFT Daily Sales Volume (30 days). Courtesy of NonFungible.com

One reason for the increased activity could be that NFT holders are looking for liquidity for the upcoming Otherside land sale on April 30 from Bored Ape Yacht Club. Buyers had to go through a KYC (know your customer) process in order to be approved for the sale.

Price data taken from the fractional platforms Rally and Otis

Our weekly index shows that NFTs on fractional marketplaces are returning 38% from the initial offerings. It’s down 6% from the previous week, but the ROI has stayed flat since mid-March.

NFTs Last Week

Both NFT Avatars and NFT Art were down last week:

Red all across the board.

NFTs on Fractional Marketplaces

A few of the values on Rally and Otis:

NFTs on OpenSea

Moonbirds takes the top spot for the second week straight, leading in sales volume. The floor price, however, has dropped by about 4 ETH since last week.

The Weekly OpenSea Top 12 – Moonbirds at the top again, but the Apes are still surging.

At the same time, the Bored Ape and Mutant Ape floors have climbed since last week in anticipation of the Otherside metaverse land sale. Bored Ape floors are up by 20 ETH and Mutant Ape floors are up by 4.5 ETH.

Check out our Industry News section at the bottom for more info.

In one week, ApeCoin has gone up by 33%, from a low of $14 and now nearing $21. There is a lot of speculation on how much the public land sale will go for. It’ll be made available via dutch auction on Saturday, April 30 @ 12 PM ET. Estimates are that parcels will cost between 300 – 600 $APE, equivalent to $6.3k – $12.6k.

All buyers had to go through a KYC (know your customer) process that left some a bit upset that they either had to go through it or that they didn’t do it. Now there’s a market for KYC’ed wallets:

No $APE? No problem, sell your KYC’ed wallet.

NFTs This Week

Fractional Marketplaces

There are no drops this week, but lots going on eleswhere.

Projects Minting

This week, we have a pair of friendly, “good vibes” collections to look at. One has already minted, but we think it’s worth checking out as its creator is getting more and more well-known.

Local Weather

Date: May 2022
Price: TBD

Why it could moon:

  • Local Weather blends real-world utility with the launch of the NFT.
  • The project and community are being built by NFL quarterback Russell Wilson, NFT creator AJ Vaynerchuk, and H+S Labs. (H+S is the sports performance company leading the formulation of the performance drink.)
  • Genesis NFT holders will be first to try the new drinks.
  • The NFT also offers experiences with Wilson + an opportunity to buy physical collectibles.

Imaginary Ones is run by fully doxxed studio creatives.

Ugly People

Minted: 22nd March
Price: 0.06 ETH Floor Price on OpenSea

Why it could moon:

  • From rising Urban Artist Jorge Torrealba.
  • The floor price has dropped considerably since the public mint, but at 0.06 ETH, there’s an opportunity to buy a unique piece.
  • Torrealba is rising in the NYC art scene. A documentary about his life won two Suncoast Emmy Awards in 2020.
  • Holders will have access to Torrealba merchandise through the Ugly Alpha Program and a portion of sales will fund the project’s philanthropic initiatives.

Not that ugly really.

Industry News

Some tidbits from the industry:

  • The Bored Ape Yacht Club’s Otherside metaverse project will officially launch later this week. The mint will start on April 30, and ApeCoin is the official payment method. All the details on that can be found in this handy little article by DappRadar.

  • Also, the Bored Ape Yacht Club Discord and Instagram accounts were hacked, leading to a loss of ~ $3 million in NFTs, including 4 BAYC and 7 MAYC.

The Last Prisoner Project is a a criminal justice reform organization.

That’s all for today.

Oh… one more thing:

Thanks, Horacio

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Author

Horacio Ruiz

Horacio Ruiz

Horacio is a veteran math teacher of the New York City public school system. Prior to teaching, he lived in New Orleans where he worked in sales for the New Orleans Hornets before joining The Institute for Sport and Social Justice to rebuild homes in the Lower Ninth Ward and neighboring St. Bernard Parish. He currently lives in Staten Island with his wife, Alicia, his three sons; Oliver, Henry, and Jacob, and their pitt-mi,x Tipitina. In 2019, Horacio published a biography, The White Knight: Calvin Patterson and the Integration of Florida State University Football.

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