Oct 27, 2022
NFT Market Update — Week Ending October 21st, 2022
State of the Market, Blur Emerges with Care Packages, Magic Eden Goes Royalty Free, Real Estate sold on Chain, and much more!
Curated by the WHALE Market Strategy team: Ekaitza, Frank, and Song 📊
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📈State of the Market📉
Market activity for the past 7 days:
Another week of landslides. After the short pause of last week, this week almost all the measures dropped again.
- WHALE Market Strategy Team
⚖ NFT Fear and Greed Index ⚖
The NFT Fear and Greed Index (NFGI) dropped to 7 (Thurs. Oct 20th, 2022), verses Week Ago index of 12.
Sentiment continues to weaken with the NFGI remaining in Extreme Fear during the past week. The index established a new all-time low of 6 before landing at 7 for the final reading. This represents another fall of 5 points for the week.
eadings 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 #9476 370ETH (US $490 K)
- Ringers #808 Artblocks 157ETH (US $205 K)
- BAYC #3942 140ETH (US $185 K)
Suspected wash trading transactions have been removed.
Punks,Apes and two rare Artblocks pieces (Ringers and Fidenza) showed up on the Top 10 list of this week. There are 6 pieces of Apes verses2 pieces of Punks, looks like Apes are getting the upper hand this week.
RECENT EVENTS
🧰 Excitement for Blur.io NFT Airdrop 🧰
As competition within the NFT marketplace sector heats up, an all-new contender has come sidling into town. Hip new gunslinger, Blur, will look to cause a ruckus with a tasty airdrop and a sleek new NFT platform. Arriving in a social media whirlwind on October 19, news quickly spread of this formidable new contender. The mighty NFT marketplace features a lightning-fast bulk buy aggregator, as well as zero fees and an on-board portfolio manager and tracker. To get the attention of the NFT community, Blur has kicked off with a ‘Care Package’ airdrop. Essentially, distributing packages in three degrees of rarity containing an indeterminate number of $BLUR tokens, each item remaining a mystery until the full token launch arrives in January.
🧺 Rarible Introduces NFT Aggregator 🧺
The Ethereum-based NFT marketplace Rarible has announced the launch of its non-fungible token (NFT) aggregator. The tool, which is accessible on the Rarible homepage, allows users to filter NFTs by blockchain, status, price, marketplace, and type. This would allow consumers to easily identify NFTs and purchase them at the best price without having to spend a lot of time and effort making the comparisons themselves. Rarible, OpenSea, x2y2, and LookRare are the Ethereum-based marketplaces that customers may now choose from among the filters. While the blockchains available include Ethereum, Solana, Tezos, Immutable X, Flow, and Polygon.
🏁👇 Magic Eden Moves to Optional Royalty Model 🏁👇
Solana non-fungible token (NFT) mainstay Magic Eden is moving to an optional royalty model, the marketplace said in Twitter thread on Oct 14th. The company says it will also be waiving its 2% platform fee, effective later Friday. The move follows a controversial trend set by other popular NFT marketplaces like X2Y2, which have opted to make royalty payments optional in a bid to attract more users — to the chagrin of most creators.
🏠⛓ NFT House Sold for $175K 🏠⛓
NFTs have found a home within the real estate market, with uses cases such as streamlining access, reducing transaction friction and democratizing ownership. For many years, real estate has been seen as a profitable investment with a less volatile history compared to cryptocurrency. Roofstock, a real estate technology company, has combined the two fields with the sale of a tokenized house for $175,000 last weekend on OpenSea, despite the recent general crypto market meltdown that has left many digital collectibles shedding more than 60% of their value in the past four months.
⚾ MLB is Hiring to Expand NFT Games ⚾
Major League Baseball (MLB), an American professional baseball association composed of 30 teams, is looking to hire someone to spearhead digital gaming, NFT and metaverse licensing projects. The position includes executing strategic partnerships to expand the MLB’s digital portfolio in NFTs, metaverse, wearable technology and AR/VR offerings, according to a LinkedIn post, suggesting that the MLB will look to broaden its digital asset launches and metaverse presence in the future. The MLB has made some other splashes in web3 this year. In January, the League started selling NFTs via a partnership with Candy Digital, a digital collectibles company co-founded by major web3 executives Mike Novogratz, Gary Vaynerchuk and Michael Rubin.
🎯 Notable Drops 🎯
- Warner Bros in partnership with Eluvio releases The Lord of the Rings: The Fellowship of the Ring in its entirety as a set of NFTs that will kick off the WB Movieverse.
- Chronicles 2019 — Into the Great Wide Open by Coldie is now available on Makersplace.
- Heavy Metal x Makersplace collection drops on Tuesday 25th October. Heavy Metal features global genre artist icon Greg Hildebrandt. Heavy Metal’s pages have served as an inspirational epicenter for the likes of Ridley Scott, Guillermo Del Toro, Chris Columbus, Jon Faverau, & more.
📚 Weekly Reading 📚
HOW NFTS CHANGED DIGITAL ART FOREVER by Jason Bailey
A LONGER HISTORY OF GENERATIVE ART by Nick Lambert
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