NFT Market Update — Week Ending September 30th, 2022
State of the Market, Christies to Sell NFTs, Blankos Breaks the Seal, Walmart Bets on Roblox, QQL FTW, and much 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:
Again, another quiet week. Although we saw some ups and downs of those measures, most are mild. NFT market is still in a hibernation mood.
- WHALE Market Strategy Team
⚖ NFT Fear and Greed Index ⚖
The NFT Fear and Greed Index (NFGI) climbed to 26 (Thurs. Sep 29th, 2022), verses Week Ago index of 22.
The NFGI briefly dipped to a low of 16. However, the week closed back in Fear with a climb to 26. This represents an increase of 4 points.
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 #2924 3300 ETH (US $4 M)
- CryptoPunk #7273 370 ETH (US $496 K)
- I feel so lost Fewocious Superrare 227 ETH (US $300 K)
Suspected wash trading transactions have been removed.
This week’s top 10 list winners are quite diversified. We have NFTs from PFPs, Metaverse, Art, ENS and Generative Art shown in the list. We did some research of ENS sales, by digging into the TX hash, and believe the transaction in the top10 is not an actual sale. Although the owner received 350 WETH, it’s a loan from NFTfi. We also question the valuation. For the above reasons, we have removed it from the Top 10 list.
Recent Events
⏹ Art Blocks Winds Down Curated Series 🔲
The Art Blocks NFT creation platform is winding down its Curated Series Sets, with Series 8 set to be the final curated series project. Art Blocks founder Eric Calderon (Snowfro) said that the company is also working on upgrades to its platform, including an updated Curatorial Board, and a branding refresh. “Art Blocks is headed towards a more refined experience, the fruits of the last few months of heads down work that the incredible team has been doing towards what we’ve basically coined Art Blocks 2.0,” he said.
🏢 Walmart Enters Metaverse with Roblox 🎮
The retail giant announced Monday it is launching two immersive online experiences with Roblox, a metaverse mega-platform extremely popular with young kids. Walmart said it is targeting the next generation of customers — Covid-19 altered consumers’ shopping habits and caused a surge in e-commerce sales. ‘Walmart Land’ will feature a Netflix trivia experience with “Stranger Things” star Noah Schnapp, a virtual dressing room and a music festival with popular artists. It will also sell “verch” for avatars that match real life merchandise in Walmart’s stores.
🌊 OpenSea Lists NFTs from Layer 2 Optimism 🌊
The NFT market OpenSea has adopted help for the Layer 2 community Optimism. This transfer onboards NFT initiatives primarily based on Optimism, corresponding to Apetimism, Bored City, Motor Headz and Optichads, the agency introduced on Twitter. Including Optimism-based NFT initiatives brings the variety of supported blockchains on OpenSea as much as six, after the corporation supported Arbitrum on September 20 of 2022.
💰 Christies Partners with Industry Leaders to Sell NFTs 💰
Luxury auction house Christie’s is launching an on-chain platform for non-fungible token (NFT) art, becoming the first global auction to facilitate fully on-chain sales. The new platform, called Christie’s 3.0, was created in partnership with blockchain data firm Chainalysis, NFT minting platform Manifold and metaverse builder Spatial. The entire auction process, including all pre-and-post sale transactions, will be carried out on the Ethereum blockchain.
💸 Tyler Hobbs QQL NFT Project Raises $17M 💸
QQL, a collaborative generative art experiment, raised nearly $17 million in a successful mint on Wednesday afternoon and continued to climb in trading throughout the day. The unique NFT project is a collaboration between visual artist Tyler Hobbs (Artblocks, Fidenza) and Dandelion Wist, co-founder of generative art platform Archipelago. The dutch auction format settled at 14 ETH per each of the 900 works. The QQL algorithm is open for everyone to use but only mint pass holders will be able to turn their creations into official NFTs in the collection.
🎮 Blankos Becomes first Web3 game on Epic Game Store 🎮
Mythical Games launched its first game Blankos Block Party on Epic Games Store. Co-developed with Third Kind Games, the free-to-play multiplayer title had been in early access since June 2021. Blankos Block Party became the first Web3 game on Epic Games Store. Blankos Block Party focuses on customizable collectible digital toy creatures called Blankos. Players can also collect and sell their digital items, though it is “not required” as stated by Mythical Games. To celebrate the launch of the game, Mythical Games partnered with Toho to include iconic monsters Godzilla, Mothra, and Mecha-Godzilla in the game as playable Blankos. They will be available during the Season One event which will also include other new Blankos and cosmetics.
The move was lauded by the web3 community, but experienced blowback as expected from mainstream media and gaming press who are still cold to the idea of NFT integration.
📚 Weekly Reading 📚
Clownvamp and the Art of NFT Storytelling by Danielle King
Fidenza Creator Tyler Hobbs Raises $16.75M on QQL NFT Drop by Chris Williams
Literary NFTs: Here’s How Writers Can Leverage Their Passion in Web3 by Randy Ginsburg
🐳 The Tao of WhaleShark 🦈
on focus
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