Weekly NFT Juice (21st Feb - 27th Feb)
NFT Bear Market Is Here?! 😭
3rd Consecutive Week of Decreasing Transaction Volume
Let's take a look 🧵
NFT Bear Market Is Here?! 😭
3rd Consecutive Week of Decreasing Transaction Volume
Let's take a look 🧵
1a: Past 7 weeks' performance (
@opensea
only!)
Transaction Volume has made another new low (since start of 2022 NFT bull-run)
Compared to the previous week, Volume DECREASED by 4.30%
@opensea
only!)
Transaction Volume has made another new low (since start of 2022 NFT bull-run)
Compared to the previous week, Volume DECREASED by 4.30%
But! There are some signs of life
• Volume decrease is lower (-4.30 % vs -18% prev)
• Transaction increasing, albeit slowing down (13.19% vs 17% prev.)
• Users increasing (4.69% vs -0.33% prev)
If this continues, we could see a reversal in NFTs despite macro uncertainty
• Volume decrease is lower (-4.30 % vs -18% prev)
• Transaction increasing, albeit slowing down (13.19% vs 17% prev.)
• Users increasing (4.69% vs -0.33% prev)
If this continues, we could see a reversal in NFTs despite macro uncertainty
1b: This particular week (
@opensea
only!)
However, I find the reversal unlikely because the increment of the 3 metrics is not consistent throughout the week but from 2 outlier days (21st & 25th)
Momentum of the 3 metrics continued to dwindle towards the end.
@opensea
only!)
However, I find the reversal unlikely because the increment of the 3 metrics is not consistent throughout the week but from 2 outlier days (21st & 25th)
Momentum of the 3 metrics continued to dwindle towards the end.
Ideally, all 3 metrics would have to increase WoW for us to call a reversal.
But if I had to rank the metrics, it'll be:
1. Volume
2. Unique Traders
3. Transactions
As of now, the most important metric is still -ve WoW.
Follow me to be updated on next week's performance 😛
But if I had to rank the metrics, it'll be:
1. Volume
2. Unique Traders
3. Transactions
As of now, the most important metric is still -ve WoW.
Follow me to be updated on next week's performance 😛
1c:
@LooksRareNFT
Everyday I'm checking the charts and performance is dipping. Can the devs do something?! 😭
Even Wash Traders are not trading there anymore
• LR's Volume (inclusive of Wash-Trades) is < half of OpenSea's Vol
• At the peak, LR was > 4x that of OpenSea Vol
@LooksRareNFT
Everyday I'm checking the charts and performance is dipping. Can the devs do something?! 😭
Even Wash Traders are not trading there anymore
• LR's Volume (inclusive of Wash-Trades) is < half of OpenSea's Vol
• At the peak, LR was > 4x that of OpenSea Vol
Memes aside, the team has been shipping out features.
These 2 weeks alone:
• List and lower prices of listing for free
• Warning when listing/accepting sales >/< 20% of the current floor
• View NFT's trait count & floor price of trait
These 2 weeks alone:
• List and lower prices of listing for free
• Warning when listing/accepting sales >/< 20% of the current floor
• View NFT's trait count & floor price of trait
You can check the full list of updates here: trello.com/b/bLju7hEQ/pub…
Given community's complaint of OpenSea's poor customer service & servers that go down during high traffic, why do most of the trading still take place on OpenSea?
Will have to do a deeper dive on this.
Given community's complaint of OpenSea's poor customer service & servers that go down during high traffic, why do most of the trading still take place on OpenSea?
Will have to do a deeper dive on this.
1d: Top performers and performance of popular NFTs
I promised to include this analysis in this week's release but unfortunately, I haven't completed my Dune dashboard ):
Wanted to pay someone to assist me on this initially but decided that working on it myself is more fun. Soz
I promised to include this analysis in this week's release but unfortunately, I haven't completed my Dune dashboard ):
Wanted to pay someone to assist me on this initially but decided that working on it myself is more fun. Soz
IN THE VERSE!
2a: New Launch / Use-cases
•LR's update
•New @gemxyz contract live
•@neon_gallery's IRL NFT vending machine official launch
decrypt.co/93568/vending-…
2a: New Launch / Use-cases
•LR's update
https://twitter.com/ZoddLooksRare/status/1495815878876987392
•New @gemxyz contract live
https://twitter.com/gemxyz/status/1495761631506280450
•@neon_gallery's IRL NFT vending machine official launch
decrypt.co/93568/vending-…
•@wearenewt tokenising time as NFTs
•@Endemic_nft release premium art NFT marketplace
https://twitter.com/wearenewt/status/1496528363422461967
•@Endemic_nft release premium art NFT marketplace
https://twitter.com/Endemic_nft/status/1496131995818237957
2b: Raises / Partnerships / New Divisions
@FTX_Official's news
•Gaming division
•Luxury Division w/ @laurenremington as Head
@FTX_Official's news
•Gaming division
https://twitter.com/FTX_Official/status/1495846868382896145
•Luxury Division w/ @laurenremington as Head
https://twitter.com/laurenremington/status/1496541978426843148
@animocabrands' news
•Led @bitsCrunch raise of $3.6m
•Led @cradlesio raise of $5m
medium.com/cradles/cradle…
•Invested undisclosed amt in @DROPPgg
•Led @ucollex raise of $10m
trib.al/BMvJksU
•Led @bitsCrunch raise of $3.6m
https://twitter.com/bitsCrunch/status/1496783990761549826
•Led @cradlesio raise of $5m
medium.com/cradles/cradle…
•Invested undisclosed amt in @DROPPgg
https://twitter.com/DappRadar/status/1496545395517890561
•Led @ucollex raise of $10m
trib.al/BMvJksU
Cont for @animocabrands (they are on a roll LOL 🔥)
•Joint Venture w/ @cubeunited to launch AniCube Ent. for K-pop metaverse
animocabrands.com/animoca-brands…
(Actually called K-pop's entrance into metaverse when I was prepping for interviews last Aug)
•Joint Venture w/ @cubeunited to launch AniCube Ent. for K-pop metaverse
animocabrands.com/animoca-brands…
(Actually called K-pop's entrance into metaverse when I was prepping for interviews last Aug)
•In @chillchatme's raise of $1.85m, led by @SolanaVentures
Another monstrous week for @animocabrands 🤯 legitly Metaverse Overlord soon (or already am)
Another monstrous week for @animocabrands 🤯 legitly Metaverse Overlord soon (or already am)
2c: Honourable Mentions
•@andrwwang announces web3 initiative for humanitarian aid, first collection for people of Ukraine
•@InvsbleFriends minted 24/2 & 1st edition sold to @ZeroSalt420 for 496.69 ETH in a charity auction
•@andrwwang announces web3 initiative for humanitarian aid, first collection for people of Ukraine
https://twitter.com/andrwwang/status/1497269918907002882
•@InvsbleFriends minted 24/2 & 1st edition sold to @ZeroSalt420 for 496.69 ETH in a charity auction
https://twitter.com/IslandsXYZ/status/1496583353209954304
•@tubbycats minted 21/2, botter managed to yoink 950 cats during public sale for ~304 ETH
•@0x_b1 revealed another mega mutant ape
https://twitter.com/JavierAng_/status/1496571065002192897
•@0x_b1 revealed another mega mutant ape
https://twitter.com/0x_b1/status/1496296457921572864
•@RTFKTstudios reveals @SandBoxGame available in upcoming Alpha 2
•@AzukiZen to fractionalize 20,000 pcs of BOBU on 6th March
https://twitter.com/RTFKTstudios/status/1497259836261683203
•@AzukiZen to fractionalize 20,000 pcs of BOBU on 6th March
https://twitter.com/AzukiZen/status/1496585348536692739
OVER THE BRIDGE
3a: Brands entrance & partnerships
•@PUMA adds .ETH to name, hinting major moves?
•@riotgames invests $3m in World Spark Studios, a blockchain gaming startup developing @Edenbrawl
3a: Brands entrance & partnerships
•@PUMA adds .ETH to name, hinting major moves?
https://twitter.com/Blockworks_/status/1495860194982744075
•@riotgames invests $3m in World Spark Studios, a blockchain gaming startup developing @Edenbrawl
3b: Hires and Potential Entrance
•@Spotify preparing for Web 3 w/ engineer hire
linkedin.com/jobs/view/seni…
•@Sothebyverse hiring Social Media Associate
linkedin.com/jobs/view/soci…
•@Spotify preparing for Web 3 w/ engineer hire
linkedin.com/jobs/view/seni…
•@Sothebyverse hiring Social Media Associate
linkedin.com/jobs/view/soci…
3c: Honourable Mentions
•@AnkaraUni to have first course on NFTs, senior officials from Turkey attended
news.bitcoin.com/officials-atte…
•@miguelfaus raises money for Indie Film Calladita via NFTs
decrypt.co/93858/indie-fe…
•@AnkaraUni to have first course on NFTs, senior officials from Turkey attended
news.bitcoin.com/officials-atte…
•@miguelfaus raises money for Indie Film Calladita via NFTs
decrypt.co/93858/indie-fe…
ENDING NOTES
That is all for today!
Have also included links for each of the news so that you can read up on them if you'd like.
Please give this thread a retweet a follow if this has been helpful and follow me for more of such weekly threads.
That is all for today!
Have also included links for each of the news so that you can read up on them if you'd like.
Please give this thread a retweet a follow if this has been helpful and follow me for more of such weekly threads.
h/t
@hildobby_ for the Dune data
@mrjasonchoi @theBlockcrunch @Darrenlautf @TheSpartanGroup @richardchen39 @arca @ArcaChemist @punk6529 @calchulus @Arthur_0x @MapleLeafCap @CozomoMedici
@hildobby_ for the Dune data
@mrjasonchoi @theBlockcrunch @Darrenlautf @TheSpartanGroup @richardchen39 @arca @ArcaChemist @punk6529 @calchulus @Arthur_0x @MapleLeafCap @CozomoMedici
Frens & Other Interns
@isaac_mung @themlpx @lordaisus @yeoujie @wassiecapital @sandraaleow @wassiecapital @uwumak1 @jasonczmeng
@isaac_mung @themlpx @lordaisus @yeoujie @wassiecapital @sandraaleow @wassiecapital @uwumak1 @jasonczmeng
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