NFT Market Update — Week Ending January 28th, 2022
State of the Market, SuperRare Spaces, YouTube Exploring NFTs, Hackatao Q+K Final Drop, Sketchers Entering the Metaverse, 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 most measures’ went up mildly against previous 7 days. Number of Sales increased 17% against previous 7 days, active market wallets went down 0.4% versus last week, Total sales in US $ have a nice pump, went up 29.6%, Primary sales in US $ went up 96.8%, secondary sales in US $ increased 21.5%. Considering crypto currency went lower in the last 7 days, the sales volume in ETH should be higher than in US$ vs previous 7 days. It looks like the NFT market performed much stronger than most crypto currencies.
- $WHALE Market Strategy Team
⚖ NFT Fear and Greed Index ⚖
The NFT Fear and Greed Index (NFGI) is at 63 (Thurs Jan. 27th 2022), up from last Thursday’s (Jan. 20th) index of 61.69.
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 #3783 for 450 ETH ($1.16m)
- CryptoPunk #7656 for 375 ETH ($951k)
- CryptoPunk #3049 for 250 ETH ($663k)
Recent Events
💎 SuperRare Spaces Coming Soon 💎
Spaces mainly act as curated, branded primary markets which are “independently run storefronts on SuperRare that can curate art and artists, promote sales, run auctions, and collect commissions. Each Space can launch its own branded ERC-721 compliant minting smart contract and invite artists to mint NFTs with them, either as a one-time event or on an ongoing basis.”
Space operators can earn commission on the sale of curated art with a default of 10%, with an additional 5% being routed back to the DAO. In this example, the artist pays 15% on the sale of the piece.
👟 Sketchers Entering the Metaverse 👟
Sketchers has filed a series of trademarks that suggest moves into virtual goods and gamified online communities within the metaverse.
This follows the lead taken by sneaker and apparel brands such as Nike, Adidas, Under Armor and Puma.
📺 YouTube Exploring Web3 and NFTs 📺
YouTube CEO, Susan Wojcicki, hints that the company is looking to branch into NFTs in the future as another source of revenue for creators as well as to offer fans a chance to connect with their favorite creators.
Of course, that short 5 second mention of NFTs is all anyone in the comments cared about:
The uphill battle rages on… fear not, the adoption flow of Early Adopter > Pragmatists > Conservatives > Laggards will play itself out as NFTs evolve.
IYKYK, and if you don’t, you spend your time posting YouTube comments 🤷♂️
💰 TRLab NFT Platform Raises $4.2m 💰
TRLab, the NFT platform co-founded by Xin Li-Cohen, raised $4.2 million in a funding round adding to the $2 million previously raised. Participants included WhaleShark, Animoca Brands, Kinetic Capital and Andrew Steinwold. Xin Li-Cohen, a non-executive deputy chair at Christie’s, is no stranger to the $WHALE Community.
The company will use the funds to diversify its collection and add art projects of “varying scope and scale, ranging from full-production genesis drops to curated multi-artist projects united along a common theme, to large-scale editions that integrate shared learning and direct access to artists into the collecting process”.
Upcoming Drops
🐣 Melanie Martinez Cyberbaby Toy Shop: Live Now 🐣
Melanie Martinez, a Platinum recording artist, songwriter, producer, filmmaker, director, and visual artist with over 10.5 million followers on Instagram, over 13 million subscribers on YouTube, 9.3 billion global song streams, and over 3.5 billion official YouTube views, released her Cyberbaby Toy Shop on Makersplace.
The drop is now live and the collection is inspired by her own vintage stuffed animals. However, the animals, outfitted for a futuristic nursery in the metaverse, come with an enchanting sinister twist.
🌟 Starkade Legion Drop: Jan 31st — Feb 1st 🌟
The much anticipated Starkade drop is almost here. Pre-Sale eligibility is closed, but if you were in the $WHALE Discord you had a chance to snag some whitelist spots — otherwise, public minting starts on Feb 1st.
👑 Hackatao Queens+Kings Final Drop: Feb 9th — 13th 👑
The final Queens+Kings drop from Hackatao starts on Feb 9th, get ready!
- Feb 9th subscription = Register for the drop on the QK website (gives you 3 tickets for the Feb 12th Raffle Mint)
- Feb 10th = Whitelisted minting open, if you were in $WHALE Discord you likely snagged one of these spots (hint: consider joining the discord for future opportunities 😉)
- Feb 12th = Lucky raffle winners can mint their QK’s
- Feb 13th = Any leftover QK’s goes to public mint. Get involved before Feb 9th for your best chance to avoid gas wars!
The QK Roadmap has also just been released:
👀 Weekend Reading 👀
- The NFT Art World Wouldn’t Be the Same Without This Woman’s ‘Wide-Awake Hallucinations by Samantha Hissong
- End of Year 2021 Report by FTX.com
🐳 The Tao of WhaleShark 🦈
On the recent drop in crypto prices:
🐋 Join $WHALE 🐋
Access the full report and discussion in our #market-strategy discord channel. Exclusively for $WHALE H2P role holders.
How to get started:
- Join the $WHALE discord
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