May 22, 2022
NFT Market Update — Week Ending May 13th, 2022
State of The Market, Dapper $725M Ecosystem Fund, Vatican NFTs, Instagram NFT Testing, Metaverse Search …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 $WHALE
📈State of the Market📉
Market activity for the past 7 days:
The Luna crash has a huge impact on the overall crypto market and NFT market. All the measures are in red for the last 7 days. Primary sales in US$ dropped more than 90% and secondary sales in US $ went down more than 60%. We might see some recovery due to the deep drops of the overall market, but I expect the NFT market might be quieter for the short term.
-$WHALE Market Strategy Team
⚖ NFT Fear and Greed Index ⚖
The NFT Fear and Greed Index (NFGI) is currently at 14 (Thurs. May 12th, 2022), significantly down from last Thursday’s (May 5th) index of 76.
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.
Otherside lands took №1 and №2 positions of the Top 10 list. Artblocks showed up again on the top 10 list after a long absence. A piece of the Genesis launch (Chromie Squiggle) took the №3 position.
- Otherside #59906 625 ETH (US $2 M)
- Otherside #66803 313 ETH (US $777 K)
- Chromie Squiggle #133 229 ETH (US $619K)
Recent Events
💲 Dapper Debuts $725M Fund for Flow Blockchain Development 💲
Flow created a $725 million fund to attract more projects onto their blockchain. The fund is backed by a16z, Coatue, Union Square Ventures, Greenfield One, Liberty City Ventures and CoinFund, among others. The fund aims to onboard “gaming, infrastructure, decentralized finance, content and creators” in the Flow ecosystem.
🐱🚀 NASA Partners with Epic Games for Martian Metaverse 🐱🚀
NASA has partnered up with Epic Games to create a Martian Metaverse Simulation for the purpose of training for its Mars mission. The mission attempts to grab developers to create a virtual reality experience that can aid in the research and environment preparations for the situations to be encountered on Mars. Developers have to assist in creating new scenarios for Mars operations. The whole scenario will be rendered using the Epic Games’ Unreal Engine 5. The total reward for the challenges is $70,000, which will be shared among 20 individual prizes as in $6K USD per winning team.
🎨 The Vatican Is Creating An Official NFT Gallery 🎨
The Vatican, in partnership with VR firm Sensorium and Humanity 2.0, is opening an official VR NFT gallery to democratize artwork and to have the artwork accessible for people “worldwide no matter their socio-economic and geographical limitations.” The gallery is expected to show the works in St. Peter’s Basilica and the Sistine Chapel as well as other artworks and statues. There are over 70,000 works within the Vatican Museum including artwork by Leonardo Da Vinci and Raphael.
🐍 Instagram to start testing NFTs with select creators 🐍
This week Instagram will begin testing NFTs with select creators in the United States. There will be no fees associated with posting or sharing a digital collectible on Instagram. At launch, the supported blockchains for showcasing NFTs on Instagram are Ethereum and Polygon, with Flow and Solana integration coming soon. The third-party wallets compatible for use at launch will include Rainbow, MetaMask, and Trust Wallet, with Coinbase, Dapper and Phantom coming soon.
🔎 Lighthouse raises $7M for search engine of the Metaverse 🔎
Web 3 startup Lighthouse has raised a $7 million seed round to build out “the search engine of the open metaverse.” The round was led by Accel, BlockTower and Animoca Brands and included participation from White Star Capital, Sparkle Ventures and Gemini Frontier Fund. The company plans to use the funding to grow its team, targeting this summer for its public launch.
🦑 Doodles Dooplicator 🦑
Doodles can now claim a free dooplicator. For each doodle, owners can claim one dooplicator. May 12: Claiming began on May 12th and will end on June 21st. The reveal will take place on June 23rd.
📢 Upcoming Drops 📢
- ⛳ AstroGolfer 🏌️♂️— The first in the AstroAthletes NFT collection series, AstroGolfer is based on the Apollo 14 true story of astronauts Golfing On The Moon. Creators chose to mint on Polygon to comply w/ NASA stated goals of carbon-free usage and also since the drop released on StarWarsDay, the same week EthMainnet crashed (thx to Otherside). AstroGolfer looks to integrate STEM Ed features as part of its gamified unlockable content and will be rolling out sports integrations as the collection evolves.
- Didier Ra animated comic June Didier Ra will be releasing the first of 8 chapters of his animated NFT comic book, JEH Mankind Withering. This is a sci-fi themed comic with a story arc that depicts the struggles of the remainder of the human race on nearby planets having been banished from Earth after losing a war to an AI. Hope is reborn after the humans discover extraterrestrial goddesses on Jupiter that could help their cause to reclaim planet Earth.
- 🥤Pepsi Mic Drop x Billboard🥤 Music Awards “Winners’ Club” NFT Collection Pepsi and Billboard will be live minting digital collectibles for each award during the 2022 Billboard Music Awards. The “Winners’ Club” NFT Collection will only be available on Billboard ChartStars, a digital collectible platform created in partnership with UNBLOCKED. During the ceremony, fans will have the opportunity to claim NFTs in real-time as televised awards are announced — for free! As each award is announced during the show, a custom digital collectible will unlock in real time, available for free minting for only 20 minutes. Fans can get in on the action by following Pepsi, Billboard and BBMAs on all social media to claim the digital collectibles. The Billboard ChartStars digital collectible is built using Flow and will be held on Sunday, May 15, at 8 p.m. ET/5 p.m. PT on NBC.
🐳 The Tao of WhaleShark 🦈
On ‘possessive tangibility’
NFTs. Begin with the end in mind.
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