☞ The week in NFTs - Volume 33
#ProbablyNothingDigest 🧵 by SODIUM
A tough week for the NFT space...
Absorbing the energy of the bear market and its related volatility. After the crypto market climbed up in the previous weeks to an MoM high, we’ve been sailing down again, resulting in further drops in NFT collections too. A massive gap between the number of Sellers vs. Buyers led to a negative balance of unique addresses with a positive 30D P&L. On top of that, BendDao slipped into a bit of a liquidity crisis - we’ve covered it with a quick view of their liquidation mechanic in this article (must read!).
SODIUM will be launching its all-new hybrid liquidity platform very soon. Launch date TBA, follow our Twitter, Degen!
Ready to dive into the #ProbablyNothingDigest - Volume 33 ?
▶︎ NFT MARKT CAP & SALES VOLUME:
Sentiment: Ice Cold. Some call it the predicted rug, others see a great moment to enter blue-chip NFTs. Market Cap down from $23.81 Bln to $22.71 Bln, weekly Sales Volume from $145.59 Mln to $113.64 Mln.
▶︎ NFT TRADING ACTIVITY IN THE PAST 7 DAYS:
Cleaning up the activity from wash trades on X2Y2 & Looksrare brings one big surprise. Element Market replaced Gem this week in the Top 5 marketplace charts by volume.
▶︎ NFT Market NEW OF THE WEEK 08/15 - 08/21:
‣ Ledger partners with The Sandbox to develop the Ledgerverse. [Read More]
‣ Nike has generated a total of $185 million in revenue from NFT sales. [Read More]
‣ NFT lending protocol Bend DAO proposes emergency changes amid their liquidity crisis. [Read More]
‣ ENS domain names crossed a record of 2 million registrations [Read More]
‣ Pudgy Penguins NFT announced a new advisory board. [Read More]
‣ Solana’s STEPN Collabs with Atlético de Madrid for NFT Sneakers. [Read More]
‣ Distributed Finance acquires Algorand NFT marketplace Rand Gallery. [Read More]
‣ Rarible proposes to create an NFT marketplace for ApeCoin holders. [Read More]
‣ Sotheby’s NY “Art as Jewelry as Art” sale will be the first auction to include a phygital ring. [Read More]
‣ Tencent has received patent approval for a blockchain-based missing person poster. [Read More]
‣ Telegram founder suggests ‘NFT-like smart contracts’ to auction usernames. [Read More]
‣ ‘The Sims’ creator Will Wright raises $6M for Blockchain Games. [Read More]
‣ OpenSea ex-employee asked the court to dismiss the insider trading case. [Read More]
‣ GameStop NFT marketplace’s daily revenue plunged below $4K. [Read More]
‣ Miley Cyrus has filed two trademark applications for the metaverse. [Read More]
‣ Hell’s Kitchen partners with The Sandbox and brings Gordon Ramsay to Metaverse. [Read More]
‣ NFT Naruto Museum signed agreement with The Jackson Family Foundation. [Read more]
‣ Banksy to release new NFT project “Radar Rats” in collaboration with Magic Eden. [Read More]
▶︎ TOP 10 NFT COLLECTIONS by Market Cap:
We saw a head-to-head race between Cryptopunks’ floor price vs. BAYC's FP, Punks took over from the Apes the first time since March - 66.45 ETH vs. 64.99 ETH. Positioning just held up shortly, BAYC managed to regain the top position. Besides this move, we only saw Moonbirds with a plus, probably influenced by KRose' Oddities update, the rest of the Top collections is purely red.
▶︎ TOP 5 NFT SALES by Price on Ethereum:
1) Bored Ape #5383 for 777 ETH
2) Bored Ape #5718 for 150 ETH
3) Bored Ape #591 for 131.99 ETH
4) Bored Ape #8880 for 105 ETH
5) Bored Ape #8433 for 103.2 ETH
▶︎ TOP 10 CRYPTO PRICES by Market Cap:
The global cryptocurrency market cap today is $1.08 Trillion (-10%).
▶︎ TOP CONTENT RECOMMINDATIONS:
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