Aug 2, 2022
NFT Market Update — Week Ending July 29th, 2022
State of the Market, NFT Embeds made Easy, Meta and Apple fight for the Metaverse, Hello Kitty poised for big NFT debut, 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:
It’s another week of red, almost all the measures dropped in the last week, with the exception of average price. Average price rose slightly due to ETH price recovery. To be honest, there is some concern here. I am not worried about the NFT market dropping, if the overall crypto market also drops. What I am scared of is when the overall crypto market recovers and the NFT market continues dropping. This could indicate people’s attitude towards NFT might be changing. It’s still too early to call - let’s keep watch how the NFT market reacts to crypto price recovery for next steps.
- WHALE MEMBERS Market Strategy Team
⚖ NFT Fear and Greed Index ⚖
The NFT Fear and Greed Index (NFGI) dropped to 37 (Weds. Jul 27th, 2022), still ranging near previous weeks.
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.
- God is Typing (SuperRare XCOPY) 264 ETH (US $461 K)
- BAYC #4171 254 ETH (US $439 K)
- Cryptopunks #8595 145 ETH (US $238 K)
Suspected wash trading transactions have been removed.
One piece of XCOPY’s NFT took the №1 position for this week. I removed a few NFTs due to the suspicion of wash trading (Loot in original №1, Goblintown in №4 and Autoglyph in №5 based on etherscan check). Most NFTs left are PFPs.
Recent Events
📦 NFT Embedding Made Turnkey 📦
NFT Embed has just announced a new and free tool for all creators, publications, and supporters of Web3. illestrator | tim.eth is the developer of this potentially ground-breaking technology where he states that “As easy as it is to embed a tweet into a website, you can now do the same with NFTs with wallet connect and marketplace capabilities out of the box”. NFT Embed allows you to sell NFTs on your own website with no coding required. You can drop in any ERC721 token address and ID, copy the embed text, and paste into WordPress, Webflow, Shopify, etc. and voila! You can also promote sales on your own website and you have the option to pay finders fees or commissions.
👔 Meta and Apple Compete for the Metaverse 👔
Zuckerberg believes that Apple and his company are in a “deep, philosophical battle” to build the metaverse with both in a position to offer AR and VR technology. Having created the Metaverse Open Standards Group along with Intel, Microsoft and others, Meta claims that they are deciding “which way the internet should go.” Apple are not part of this group as they have always preferred to remain closed in terms of their hardware and OS. Zuckerberg feels that the openness of companies to work together will build an ecosystem that will define the internet of the future. Future immersive 3D environments will have open protocols that will make it easy for people to move around with virtual objects. Apple’s strategy of tightly controlling both hardware and software worked well for the iPhone, but for the metaverse, “it’s not clear whether an open or closed environment is better.”
With these companies claiming to be leading the way and disrupting Web2 by moving into Web3, have been raising more that the proverbial eyebrow by those who were in the space for almost 10 years now.
🥊 Russell Crowe: How NFTs let $100 Investors Fund Movies 🥊
It was reported in our Weekly Highlights back in January 14th 2022 that “The financing of films is coming to the blockchain.” via the crowdfunding platform Movie.com The public had the opportunity to invest in Prizefighter: The Life of Jem Belcher, featuring Ray Winstone and Russell Crowe. The movie is now being steamed on Prime Video since July 22nd.
😻 SANRIO Embarks on a Globetrotting NFT Experience 😻
Powered By RECUR, Sanrio Hello Kitty and Friends World are coming to NFTs on August 24th (presale) and will open to the public on August 25th. The narrative behind this drop is about the friendship and community of Hello Kitty, where “fans will be able to pack their digital bags and travel alongside Sanrio’s most beloved characters on a globetrotting NFT experience”. Hello Kitty and five of her friends will act as tour guides for fans through the 10k NFTs for sale. Fans will be able to collect Hello Kitty characters and earn new digital collectibles by completing challenges where they travel to eight iconic cities around the world, two of which will be exclusively available for RECUR Pass Holders.
Following the recent RugRats drop, it is expected that the iconic Hello Kitty will be hugely successful. We will remind you of this drop closer to the date.
🤝 OMA3 Metaverse Interoperability DAO 🤝
Open Metaverse Alliance for Web3 (OMA3) has been launched collaboratively by several prominent blockchain-based companies and big metaverse platforms. Some of the companies include ‘The Sandbox’, ‘Decentraland’, ‘Animoca Brands’ and ‘Voxel’(Previously called Crytpovoxels). To summarize, the goal of the organization is to steer the evolution of the metaverse in a direction that aligns with some of the core principles of Web3.
💰 Unstoppable Domains raised $65 M 💰
Unstoppable Domains, a popular blockchain naming system provider and identity platform, is the latest crypto startup to become a unicorn. The identity platform, which has amassed over 2.5 million registered NFT domains, said on Wednesday it has raised $65 million in its Series A funding round at a valuation of $1 billion. Pantera Capital led the four year-old startup’s new financing round.
The most recent episode of WhaleShark Twitter Space segment “SAY MY NAME” discussed some of the nuanced difference between Unstoppable Domains and ENS.
📚 Weekly Reading 📚
- What doesn’t kill you makes you stronger! — the story of multi-tasking stupidity leading to a hack. Lesson here…be vigilante in all things crypto related by Bharat Krymo
- Double Peak Group will be investing a further $200K into Gods Unchained $GODS off the back of the senior hires and renewed focus of the team by Galen Law-Kun
- Everything you need to know about Art Blocks by Lalley
- Metaverses and other shared immersive experiences by Adobe
🐳 The Tao of WhaleShark 🦈
Build Regardless
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