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An NFT Weekly Recap: 11/28–12/4 by Metaverse HQ

Poopaloop
Metaverse HQ
Published in
8 min readDec 5, 2022

Monday 11/28

A quiet Monday in the marketplace as we saw substantial volume dropoff compared to the weekend. Valhalla saw a big 28% jump after Dingaling swept 35, with floors now holding at .68E. Cryptobirbs continued its recent run with floors surging back above .2E, while the OG Moonbirds saw a 14% spike with floors back above 8.25E.

Opensea closed the day with over $5.6 million in transactions, while BLUR finished over $3.5 million. Total marketplace spend ended the day at $11.7 million, down over $4.5 million from Sundays number. ETH continues to range just below $1200.

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Notable Mint:

  • Art Blocks Presents: Imposter Syndrome by artist ippsketch sold out at a Dutch Auction rung of 1.95E. The small 100-supply collection saw immediate secondary action with floors touching 2.8E and now settled into its current 2.3E range on over 120E in volume. https://opensea.io/collection/imposter-syndrome-by-ippsketch

Tuesday 11/29

NFTs were back in the news cycle in a big way today with many big brands and artists from Nike/ RTFKT, Xcopy, and Porsche all making announcements. Nike’s new .SWOOSH first campaign launched alongside RTFKT’s first Eggperience stream. On the more art-focused side Xcopy hinted at a Deca collaboration while Tim Ferris announced a mint date for his upcoming 3D project, Cockpunch. NFT market volume saw a slight uptick from Monday but is still down overall from the lofty weekend volume we saw. Markets moved primarily off of Otherdeed (1.26E, 500E vol.), Valhalla (.7E, 450E vol.) and Art Blocks Bracelets (.31E, 440E vol.) sales. Opensea secondary volume closed at $7 million, while Blur realized about half that volume at $3.5 million. In total major marketplaces accounted for around $13 million while ETH saw strong upward momentum, finishing the day at $1270.

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Wednesday 11/30

Even with a slight uptick in marketplace volume, many floors spent the day bleeding out without a ton of action from traders across the board. Renga saw a small 12% bump to 1.06E, while Genuine Undead and Moonbirds Oddities each saw a 5% move towards the green. There were plenty of newsworthy items to help pass the time, however, and ETH continued a nice pace back above the $1250 range.

Opensea led all marketplaces in trading volume with a $7.2 million close, while BLUR finsihed the day at the $4.3 million mark. Total marketplace spend came in at $13.5 million, about $1 million more than yesterday.

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Thursday 12/1

Art Basel is going in full force with many projects sending representatives to Miami to host events, parties, and more. Some of the bigger blue chips made headlines today with BAYC teasing the location of their Art Basel event in a Tweet and RTFKT’s Animus egg claim being the main driver of volume for the day. In other news, LooksRare and Magic Eden continue to make adjustments to their listing rewards and royalty options respectively as marketplaces continue to look for an edge.

Markets saw a continued rebound in volume as Opensea cleared $9 million in volume and Blue saw another $4 million in volume primarily from activity on RTFKT Animus Eggs (1.2E, 1100E vol.) and 3D Invisible Friends (.6E, 800E vol.). Overall the major marketplaces totaled an impressive $16 million collectively. ETH continued to range and was rather uneventful finishing the day at $1275.

News:

Notable Mints and Reveals:

  • Dmitri Cherniak, artist of the famous Curated piece, Ringers, released his Light Years project today in collaboration with Fellowship. The 100 supply mint passes sold out at 22E where floor instantly settled at 28E on secondary. The collection has since transacted 500E in volume with 74 holders of the 100 tokens. https://blur.io/collection/light-years-selection-pass
  • 3D Invisible Friends minted out in its final phase for Invisible Friends and Clay Boy holders and subsequently revealed earlier this afternoon shortly thereafter. Volume picked up on reveal with rares being sniped. Current floor is holding at .6E with 860E vol. traded with 3250 holders of its 5K collection. https://blur.io/collection/3d-invisible-friends

Weekend Recap 12/2–12/4

A few notable headlines helped capture attention despite a quieter marketplace overall this weekend. RTFKT came out swinging with an onslaught of announcements regarding world merging, Project Animus and MNLTH 2 & 3. Pudgy Penguins have seen their floor creep back above the 3.5E range as positive sentiment from Art Basil has kept the project moving in the right direction. The Cel Mates reveal went off without a hitch as activity has remained steady on the both revealed and unrevealed collections.

Total Marketplace spend saw Friday close just under the $14 million mark while both Saturday and Sunday combined for $27 million, bringing the 3-day average to right around $13.3 million. ETH got a little perky and has made a new push toward $1300, continuing its recent slow upward off local lows.

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Poopaloop
Metaverse HQ

Written by Poopaloop

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