NFT Market Update — Week Ending January 14th, 2022
State of the Market, Candy Digital Launches Secondary Marketplace, Nas Drop Rescheduled, Associated Press Photojournalism NFT Marketplace, 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:
Most KPIs have a big jump in last 7 days except average price of NFT. Sales in US $ only have a mild increase of 5.5%, considering most crypto currency prices dropped quite a lot in past week, this is still a very decent increase if we measure it in ETH term, average NFT in US $ is the only measure went down, it dropped 61.3% against previous 7 days. We had another week of nice upward momentum, let’s see how long the recovery will last.
- $WHALE Market Strategy Team
⚖ NFT Fear and Greed Index ⚖
The NFT Fear and Greed Index (NFGI) is at 54.47 (Thurs Jan 13th 2022), up from last Thursday’s (Jan 6th) index of 53.94.
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.
- Bored Ape #6694 for 421 ETH ($1.42m)
- Bored Ape #1831 for 421 ETH ($1.29m)
- Bored Ape #1401 for 400 ETH ($1.24m)
Recent Events
⚾ Candy Digital Launches Secondary Marketplace ⚾
The exclusive NFT partner of Major League Baseball, Candy Digital has launched its Secondary Marketplace on January 15th. Allowing users to buy and sell previously released officially licensed Major League Baseball NFTs.
🎵 Royal’s Nas Mint Rescheduled 🎵
Royal, a NFT platform backed by American Music producer 3LAU, crashed at it’s first mint event due to heavy traffic and high demand on the server. Mint has been rescheduled for Thurs, Jan 20th.
On the positive side, that means if you’re wanting to get in on the Nas drop, you have more time to prepare! Join the Royal Discord and look into the #nas-drop channel for more info.
🌐 China backed Blockchain Services Networks Supports NFTs 🌐
According to the South China Morning Post, The China backed Blockchain Services Networks (BSN), plan to support NFTs. The BSN will offer Chinese companies and individuals the infrastructure to implement NFTs into personal user interfaces such as apps in exchange for Chinese yuan.
📷 Associated Press NFT Photojournalism Marketplace 📷
The Associated Press is starting its own NFT marketplace for photojournalism.
With the recent success that some photographers are having with selling their work as NFTs, platforms such as OpenSea are highlighting this form of art by giving it it’s own category. And with many traditional photography platforms that supposedly act in the best interest of photographers but with little-to-no earnings potential for the artist, there is a concern that a mass exodus could take place where photographers will want to have ownership and control over their work. In order to survive, photography-related platforms, including media platforms, will need to adapt to the changes taking place.
The AP NFT Marketplace will officially open within 3 weeks where you can buy and sell NFT photography.
Upcoming Drops
👾 Pixelmon Launch Approaching 👾
The countdown for the launch of Pixelmon is coming to an end next week and minting will be available within 14 days of launch.
Think of a Pokémon x Axie hybrid and you’ll quickly understand what Pixelmon is all about. The mint will give trainers a Generation 1 Pixelmon with some rare and others uncommon. Later you will have the ability to breed your Pixelmon.
Follow the Pixelmon twitter for updates, getting access to their discord is near impossible given the demand, but keep a close eye on their Pixelmon Discord twitter account and you might get lucky.
The only way to get whitelisted for the drop is to get in their discord and contribute to the community.
🎭 Sabet Tokyo Punks 🎭
Sabet has joined the pfp craze with the imminent launch of his Tokyo Punks project.
Consisting of 4850 hand-painted punks, the collection will be ‘organically created’ on the blueprints platform powered by async. If you hold a fine art piece by Sabet, an Ugly Kitties or a Pixopop, then you can join the mailing list and be an early minter.
🐳 The Tao of WhaleShark 🦈
👀 Weekend Reading 👀
There is a debate at the moment as to whether NFTs can be classified as Art by a number of Wikipedia writers. Currently, those that voted did so in favor of claiming the negative…
This got Griffin Cock Foster of NiftyGateway concerned, writing a thread warning us of the possibility that a source like Wikipedia could have a influence of people perceptions. Pak followed up with a retweet. The following article by Maxwell Cohen, writer for the Museum of Crypto Art, coincidentally published on the same day as Griffin’s tweet, brings us through five acts likened to a Shakespearean play and discusses art for arts sake.
- ‘The End of Art (as we know it) (again) or How I Learned to Stop Worrying and Love the Bored Apes’ by Maxwell Cohen (Note: some foul language)
- What Is CryptoArt? by Jason Bailey aka Artnome (published 4 years ago, but a nice read to follow on from Maxwell’s)
- Krista Kim on grace, NFTs and the future of fashion in the metaverse by Isabella Lok
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