NFT Market Update — Week Ending June 17th, 2022
State of the Market, NFT Ticketing Support Growing, TAG Heuer Watches Add NFTs, Corvette gets Minted Green, and more!
📈State of the Market📉
Market activity for the past 7 days:
This week, our primary data provider Nonfungible experienced a data loss event, impairing segmented measures and aggregates. We will wait for the restoration to resume this section next week. (source)
- $WHALE Market Strategy Team
⚖ NFT Fear and Greed Index ⚖
The NFT Fear and Greed Index (NFGI) is at 12 (Thurs. Jun 16th 2022), down from last Thursday’s (Jun 9th) index of 17.
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.
This week, collectors interest shifted back to primarily PFP NFTs. Besides BAYC and Cryptopunks, one piece of Goblintown also showed up in the Top 10 list. Only one piece of Otherside showed up as the representative of the Metaverse. BAYC is still the reigning King of PFP.
- BAYC #7537 1024 ETH (US $1 M)
- BAYC #2488 1000 ETH (US $1 M)
- Otherside #61223 260 ETH (US $436 K)
🌊 NFT Volume Surges Amid Market Crash 🌊
During the week, 8 of the top 10 NFT projects have posted at least a 115% increase in 24-hour trading volume as the floor prices of many top NFT collections tumbled. According to data from CryptoSlam, only Goblintown (35.54%) and Moonbirds (64.11%) fell below that threshold. Leading the pack was BAYC, with a 262.79% surge over 24 hours to account for $7.1M worth of sales.
NFT trading volume surges amid market and floor price crash
Nonfungible token (NFT) trading volume has surged over the past 24 hours as crypto markets tank taking floor prices of…
💬 Dump Discord? Nansen Launches Web3 App💬
Discord is the go-to app of choice for the Web3, but frequent scams are taking the shine off of the service. Now, crypto analytics platform Nansen has a new solution to connect communities. The firm announced Nansen Connect, a messaging app that lets users log in with a crypto wallet and connect to groups based on their holdings they verifiably own. Nansen describes the app as a “crypto-native communications hub” for Web3 communities.
🎫 UEFA Debacle Leads to NFT Ticketing Support 🎫
French authorities took note after ‘fake tickets and gatecrashers’ marred the UEFA Champions League Final experience for many soccer fans in Paris last month. The disorder may lead to the widespread adoption of NFTs for ticketing in France. The country previously stated that it intends to use NFT tickets during the 2023 Rugby World Cup and 2024 Paris Olympics. French Government Olympics envoy Michel Cadot submitted a report to the Office of the French Prime Minister recommending steps to prevent issues in the future, including the use of NTF ticketing.
🚗 Corvette NFT + Matching Car to be Auctioned🚗
Chevrolet announced plans to auction off a Corvette-themed NFT designed by artist Nick Sullo (xsullo) , with the winner also getting an actual Minted Green Corvette Z06 inspired by the cyperpunk artwork. The colorway will remain an exclusive to the winner, with Chevy vowing to not apply the color to any other production Z06. The auction will take place on SuperRare on June 20–24, with all the proceeds going to DonorsChoose.
💍 Convicted Scammer Anna Sorokin Selling NFTs 💍
Infamous faux socialite Anna Sorokin, known for taking hundreds of thousands of dollars from friends and businesses while posing as a German heiress, said she plans to launch a collection of NFTs. Various tiered NFTs will grant holders “exclusive access” to her, which includes perks like one-on-one phone calls, she told NBC News’ Savannah Sellers in a recent interview.
“I’m trying to move away from this like, quote unquote scammer persona,”
⌚ TAG Heuer Intros NFT Luxury Smartwatch ⌚
In perhaps one of the coolest newsbytes for NFT holders who enjoy luxury watches, enthusiasts will soon be able to set their favorite NFTs as their watch face. According to the news, Tag Heuer partnered with Bored Ape Yacht Club and CLONE-X to develop a smartwatch that connects to crypto wallets and can display NFTs owned.
“Some NFTs are still images, and some are animated GIFs. TAG Heuer’s watch face will support these formats in crisp detail, with animations looping infinitely.”
🎯 Upcoming Drops 🎯
- Marilyn Monroe by photographer Jeff Mitchum 1 of 10 editions on Terra Virtua. The artwork was fully colorized from the original B/W film studio negative and a high end private art collector, Thomas P., has the exclusive rights to distribute this image
- Pranksy will launch V2 of the on chain NFT Boxes soon with Hackatao being the headline artist. Hackatao follows other prominent NFT artists who had previously featured in V1 including Alotta Money, XCOPY, Coldie and Kitty Blast. More information coming soon during NFT NYC
🎢 Catch the NFT Dip 🎢
With the market fluctuations driving liquidity needs, our analytics team keeps watch for unique market availability and changes in highly sought after collections.
- Raf Grassetti dropped on Artifex on April 3rd with almost 4,000 people entering the drawing for a chance to buy 1/100 of his piece for 0.3 ETH. You can now buy #2 for 0.36 ETH with the next available piece on the market for 0.88 ETH (source)
- Alotta Money dropped on October 16th on Artifex for 0.2 ETH. There is one for sale for 0.69 ETH (edition #52). The next two available on secondary are 1 ETH and 1.5 ETH (source)
- There are only 7 Kolectiv cards by Alotta Money for sale on the secondary. Lick or Trick is available for 0.519 ETH (#80/100) and only 1 of 4 available, there are two Monsieur Monnaie cards (#115/150) with the lowest at 1.49 ETH and one Piece of Mind (#20 of 25) for 4 ETH (source)
- XCOPY #60 of 150 BeastMode from the Kolectiv series is available on secondary for 5.55 ETH and an offer of 3.33 wETH is on the table (source)
📚 Weekend Reading 📚
- Uffizi gallery makes only €70,000 from Michelangelo NFT that sold for €240,000 by Gareth Harris
- More than JPEGs: What is Clone X? by Martin Lee
- ‘I Am Very Sorry’: Takashi Murakami Apologizes to His Crypto Investors on Twitter as His NFT Prices Nosedive by Amy Castor
- Battered Crypto Hedge Fund Three Arrows Capital Considers Asset Sales, Bailout by Serena Ng
🐳 The Tao of WhaleShark 🦈
On market values -
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