NFT Market Update — Week Ending February 18th, 2022
State of the Market, Nifty Gateway Institutional Services, Snoop Dogg NFT Music Label, Twitter ETH Tipping, and more!
Curated by the $WHALE Market Strategy team: Ekaitza, Frank, and Song 📊
To get the full report and discuss market activity with the team, Join $WHALE
📈State of the Market📉
Market activity for the past 7 days:
Last 7 days’ all measures went down again as expected, still see no sign of a quick recovery in the short term. As we expected last week, almost all the measures dropped again in the last 7 days, we expect the NFT market will stay low for a while. I guess most collectors might be just like me, tired of all those PFP projects that lack high quality creative artworks, strong leaders and dedicated team to build a community. There are just too many money grabbers.
- $WHALE Market Strategy Team
⚖ NFT Fear and Greed Index ⚖
The NFT Fear and Greed Index (NFGI) is at 26 (Thurs. Feb 17th 2022), down from last Thursday’s (Feb 10th) index of 45.
Readings for the NFGI are as follows: 0–20 = Extreme Fear, 20–40 = Fear, 40–60 = Neutral, 60–80 = Greed, 80–100 = Extreme Greed.🥇 Top 3 Sales 🥇
Top sales in USD for the past 7 days.
- CryptoPunk #5822 for 8000 ETH ($23.8m)
- CryptoPunk #8620 for 375 ETH ($1.1m)
- Decentraland #4682 for 214,347 MANA ($686k)
Recent Events
🤵 Nifty Gateway Launching Service for Institutional Clients 🤵
Nifty Gateway is launching a new service for institutional clients who would like guidance about their collectible crypto investments.
“The program will help clients with onboarding, private sales, off-market acquisitions, market intelligence and insights, along with global support. As of now, it is free of charge.”
This service will secure Nifty Gateway as one of the leading platforms and advisory services in the NFT space and, given how nascent this industry is, the company is positioning and readying itself for the inevitable influx of family offices and funds that need to include blockchain investments as part of their risk management portfolio.
🎶 Snoop Dogg to Turn Death Row Records into NFT Label 🎶
Having recently secured Death Row Records, Snoop Dogg announced that he will be turning the label into an NFT label.
“We will be putting our artists through the metaverse and through a whole other chain of music. Just like how we broke the industry when we was the first independent to be major, I want to be the first major in the metaverse so Death Row will be an NFT label”
🆕 Twitter Releases Ethereum Tipping 🆕
Twitter recently added an ethereum tipping feature having previously introduced the ability of users to use a NFT verified profile pic. The feature will allow tipping with $ETH and ERC tokens.
🎙Universal Music Group Plan to Develop NFT Fan Collection 🎙
Universal Music Group is working with Curio, an NFT platform for entertainment brands, to launch NFT projects from UMG’s record labels, operating companies and recording artists.
🎯 Upcoming Drops 🎯
On Nifty Gateway
- Diana Sinclair, a 17 year old artist / photographer: Sunday February 20th at 18:30 EST — learn more about Diana Sinclair
- Micah Johnson, in collaboration with Bonhams and marks the 10th and final piece of the Aku series: Monday February 21st at 14:00 EST — Learn more
On Makersplace
- YiYing Lu, 2022 The Year of the Tiger: Wednesday February 23rd at 18:30 EST — Learn more on Makersplace
- Hackatao, Remix Me Part 3: Thursday February 24th at 18:30 EST — If you had bought in on the first or the second of the remixes, then this is your chance to continue with your collection. Likewise if you missed out and would like to own a Hackatao remixed by one of your favorite artists
👀 Weekend Reading 👀
- This baseball player turned artist has NFT art sales valued at more than $19 million. Here’s how he did it by Amiah Taylor
- This NFT collector who says he has art worth millions thinks the market is about to crash — but notes he’s not in it for the money by Tristan Bove
- Welcome to the NFT Renaissance: How technology played as big a role in the European Renaissance as it does in today’s digital art movement by Gabrielle Selz
- Tokenomics 101: The Basics of Evaluating Cryptocurrencies by Nat Eliason
🐳 The Tao of WhaleShark 🦈
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