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An NFT Weekly Recap: 12/5–12/11 by Metaverse HQ

Poopaloop
Metaverse HQ
Published in
8 min readDec 12, 2022

Monday 12/5

It was a wild day in the marketplace as numerous big name headlines captured attention across the NFT space. Pudgy Penguins continued their recent surge with another 15% spike and floors holding above 4.2E. CloneX saw negative price action all day after the team failed to meet expectations with their recent MNLTH 2 reveal. BLUR also launched Airdrop #2 which was met with some resistance due to reward inconsistencies and ApeCoin staking has gone live for those that live outside the U.S via the official website.

Overall marketplace volume closed just under $15 million once again. Opensea finished the day with $6.5 million in transactions, while BLUR kept it close with a $5 million final number. ETH continued to play nice in the $1250 range.

News:

Tuesday 12/6

NFT news came in from all corners of Web3 as it looked to follow up Monday’s newsworthy headlines. Ledger revealed a major new product line with larger screens and additional functionality while RTFKT addressed its community after the less than stellar launch of their Lace Engine NFTs with a plan for forward action. Bobby Hundreds also came out of left field detailing a merchandise partnership with the Pokemon Company. NFTs also continued to see volume with Opensea daily volume tallying $7 million and Blur’s daily volume following close behind with $6 million. Volume was driven mainly by AI-generated darling, Dori Samurai (.78E, 750E vol.) and Love (2.35E, 700E vol.) a project by Art Blocks Curated, Artist Martin Grasser. All major marketplace volume totaled to $22 million for another strong day.

News:

Notable Mints:

  • Love by Martin Grasser in collaboration with the ATP Tennis Tour and the Art Blocks Engine launched today in a dutch auction that started at 3E and sold out its supply of 300 at 1.5E. Secondary action came in waves throughout the day where the floor reached as a high as 2.7E before settling at 2.35E. The collection boasts 191 unique holders in total.

Wednesday 12/7

It was a well rounded day in the marketplace as we saw new mint floors hold up strong, a Valhalla reveal with big volume and a run on Sappy Seals that saw floors touch 1E as a sympathy play to recent Pudgy Penguins hype. The Legend of Cockpunch strongarmed the volume leaderboard, bringing in over 3100E in transactions, while Valhalla saw over 1600E — showcasing some welcomed sustained activity across both collections.

Total marketplace volume came in jsut under $15 million for the 2nd straight day. Opensea led the charge with $6.5 million in transactions with BLUR finishing close behind at just over $5 million.

News:

Notable Mints/Reveals:

  • THE LEGEND OF COCKPUNCH from Tim Ferris sold out its 5555 supply collection at a 0.3E price but had to wait until the Waitlist phase to do so, despite being 10% over allocated. The project has seen heavy volume with over 3100E in transactions. Floors spiked near 2E early, dipped below 1.15E and has now stabilized in the 1.2E range. https://blur.io/collection/cockpunch
  • Valhalla made its much anticipated reveal and also announced a snapshot and plan for upcoming airdrops. Floors dipped sharply down to the .35E range upon reveal but has since regained some of its pace with a current 0.57E floor. https://blur.io/collection/valhalla
  • Art Blocks Presents: Metaphysics by artist Jinyao Lin sold out its 200 supply collection at the .56E dutch auction rung. The collection has been a success with current floors holding in the 1.1E range on over 140E in volume. https://opensea.io/collection/metaphysics-by-jinyao-lin

Thursday 12/8

It was a momentous occasion for many today throughout the NFT space as projects old and new made announcements and celebrated. Memeland kicked off the day by announcing the mint price and date for their highly anticipated Captainz mint while Art Blocks took a more reflective tone as they celebrated their 2-year anniversary. Art Blocks commemorated the event with a 24-hour Twitter Space hosting many different guests and announcements.

Meanwhile the market was just a tad bit quieter heading into the end of the week. Valhalla (900E vol.) and Cockpunch (700E vol.) continued to drive most of the action across marketplaces as Valhalla rares fetched higher returns. Opensea had a much stronger day than its competitors with $9 million in secondary volume with Blur being fairly behind with only $5 million in volume. In total all of the major marketplaces traded around $17 million on the day. ETH also found some legs as it ran all the way to $1280.

News:

Weekend Recap 11/9–11/11

Some major volume spikes in the marketplace saw tons of green action trickle down to the majority of projects over the weekend. BLUR bid farming for Airdrop #3 is in full swing with many floors holding up nicely with the increased liquidity across most notable collections.

Saturday ($44 million) and Sunday ($33 million) turned out to be the biggest volume days that we have seen in over a month. BLUR led the way by a long stretch by bringing in over $55 million of the over $77 million in total transactions over the two day stretch. ETH continued to hold firm in the $1250 range.

News:

Notable Mints/Reveals

  • The Legend of Cockpunch revealed and immediately saw its floor tank under .5E after holding firm above the 1E range since minting out earlier in the week. Current floors have stabilized in the .6E range as volume has slowed considerably on the project. https://blur.io/collection/cockpunch
  • 1337 Skulls opened its free stealth mint on Saturday as holders of a variety of pixel art collections were granted access to the project and able to mint for free. Floors ripped above .25E on heavy volume and now currently sit at .15E. https://blur.io/collection/1337-skulls

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Poopaloop
Metaverse HQ

Written by Poopaloop

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