☞ The week in NFTs - Volume 23
#ProbablyNothingDigest 🧵 by SODIUM
‣ Week 23 - June 06-12:
Crypto markets suffer a brutal drop, and the NFT market mirrors as it continues to be highly correlated with crypto and equities. Ethereum has dropped to $1,423, its lowest point since January 2021.
Out of the Top 100 NFT collections sorted by volume, 21 collections still have a higher floor price today than 7 days ago (in ETH ).
‣ NFT Market Cap & Sales Volume:
How red can we go? Let’s have a look at the NFT ATH period of calendar week 5 versus this week:
‣ NFT trading activity in the past 7 days:
X2Y2 with $156.12 million (+28.17%) trading activity and 6.33k unique users is taking over place number 1.
It’s the first week that #OpenSea is not leading the weekly sales volume charts.
‣ NFT News of the week 06/06-12:
‣ Huobi Global has announced the launch of its $1 billion invested arm focused on DeFi and Web3. [Read More]
‣ Felix Capital has raised $600 million to invest in crypto and web3. [Read More]
‣ The Republic of Palau will mint NFT identification cards for citizens on the Binance BNB Chain. [Read More]
‣ Solana launched a $100 million fund to support NFT, blockchain gaming, and DeFi projects in South Korea. [Read More]
‣ New ruling by the New York court system allows court notices to be served via an NFT. [Read More]
‣ ApeCoin community commits via holders votum to stay on the Ethereum network. [Read More]
‣ Salesforce has announced the launch of its own #NFT platform, NFT Cloud. [Read More]
‣ Mastercard has partnered with Immutable X and Moonpay to permit NFT purchases via Credit Card. [Read More]
‣ Samsung US launched Discord channel to support NFT and Metaverse plans. [Read More]
‣ Hyundai Motor Co. has filed trademark applications for #Metamobility and #Hyundaimetamobility to cover NFTs + NFT-backed media. [Read More]
‣ Meta (Facebook) to launch #Crayta on Facebook Gaming, a platform that lets users build and play games in real-time via cloud technology. [Read More]
‣ StockX hits back at Nike in a legal battle over NFTs and counterfeit sneakers. [Read More]
‣ Yuga Labs has burned the contract owner to create infinite NFTs from the Bored Ape Yacht Club collection. [Read More]
‣ Ethereum Ropsten testnet merge to proof-of-stake has been completed. [Read More]
‣ Bored Ape Yacht Club has warned of a potential attack on their social media accounts. Cites an insider source at Twitter. [Read More]
‣ PayPal Executive most excited about three things: NFTs, stablecoins and digital identity, as NFTs move to become a digital property right. [Read More]
‣ Mattel to launch NFTs in partnership with Cryptoys. [Read More]
‣ Nickelodeon hints at an NFT drop with Recur platform. [Read More]
‣ Seth Green has paid 165 ETH to recover his BAYC NFT that was lost in a phishing scam. [Read More]
‣ Lacoste has launched Discord Server for an upcoming NFT project called UNDW3. [Read More]
‣ Free mint NFT collection FTC changed the properties of items listed below 1 ETH, appearing in a black jpeg and ‘Game Over’ instead now. [Read More]
‣ Top 10 NFT collections by Market Cap:
Out of all bluechips CryptoPunks is the only collection with a stable floor price, Otherdeed and CloneX have seen the hardest floor price drop among the Top 10 collections. Mutant Ape Yacht Club with FP as low as ~16.4 ETH ($24,600) compared to ATH in April (40.2 ETH, $120,921), with attractive entry barrier, showing the highest Holder change within the past 7 days.
‣ Top 5 NFT Sales by Price on Ethereum:
1) Otherdeed #8088
2) Bored Ape Yacht Club #7725
3) Bored Ape Yacht Club #4890
4) Bored Ape Yacht Club #5378
5) Bored Ape Yacht Club #208
‣ #BlueChipNFT Index:
The market sentiment is cool and reflects the current volatility as well as the low trading volume also in the blue chip index, currently at 10,058, reaching a three-month low.
‣ Top 10 Crypto Prices by Market Cap:
The global cryptocurrency market cap today is $1.16 Trillion.
‣ Content Recommendation of the Week:
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What is SODIUM?
SODIUM is a non-custodial liquidity market protocol, which enables users to effortlessly lend, borrow, and earn interest with their digital assets. Depositors providing liquidity to the protocol may earn passive income, while borrowers can procure liquid funds in an NFT-over-collateralized manner.
SODIUM unlocks the financial value of an NFT by enabling users to get instant access to a liquidity pool, based on an automated NFT asset valuation.
🚨 SODIUM has launched The Fair Price Engine, the automatic NFT asset pricing system.
Alpha Access via:
https://sodiumofficial.medium.com/sodium-fair-price-engine-alpha-launch-1cace551ead1