Weekly NFT Update (Week 14, 06/04/2022 – 12/04/2022)
NFT of Jack’s first tweet valued at over $48M. The U.K. is set to create government-backed NFTs. Nansen’s recent report states NFTs outperform cryptocurrencies YTD.
Key Takeaways
The NFT of former Twitter CEO Jack Dorsey’s first tweet is now valued at about US$ 48 million on OpenSea. Just last March, the tweet was worth $2.9 million and sold to Bridge Oracle CEO Sina Estavi.
Sports media giant ESPN released its first Tom Brady NFTs on 7 April, in collaboration with Brady’s NFT startup Autograph. This is part of a multi-year deal agreement between the two firms, and the NFTs were minted on Polygon.
Chancellor Rishi Sunak has tasked The Royal Mint to develop government-backed NFTs this summer. This move signals the Treasury’s intention to stay at the forefront of cryptocurrency and supports the Chancellor’s ambitions for the UK to be the global hub of ‘cryptoasset technology’.
On Tuesday, blockchain analytics platform Nansen recently released its quarterly report for Q1 2022 which highlights that the NFT market has outperformed the cryptocurrency market year-to-date. Blue chip and metaverse NFTs were the main drivers of this tremendous market growth.
LooksRare recorded a -34% decrease in sales and a -27% drop in transactions. OpenSea recorded a -32% decrease in sales and an +18% jump in transactions.
Crypto.com NFT in the Spotlight
‘Remember The Name’ is the first athlete NFT project which allows you to personalise your redeemable experience on Crypto.com, created by portrait artist Carling Jackson and cricket legend Carlos Brathwaite. Each NFT in this pseudo PFP collection places the owner in a bespoke redeemable stream allowing them to cater their redeemable experience to their interests. The Remember the Name collection features fan-favourite action figures and the first publicly available work from the world renowned ‘athlete artist’.
‘BeatHeadz’ is the PFP project for all music lovers on Crypto.com. Created by artist Phil Lumbang and musician Aloe Blacc, each of the 10,808 BeatHeadz in the collection is a digital collectible avatar with a unique combination of headphones, hair, eyes, clothing, and accessories.
Highlights
Ethereum NFT-backed loan market heats up as CryptoPunks owner borrows $8.3M
Refunds for NFTs? New standard sets give-back period for minters
Logan Paul’s new company ‘Liquid Marketplace’ allows people to invest in shares of rare collectibles
NBA’s crypto chief registers second .Eth domain as league files for 4 NFT trademarks
NFT avatar startup Genies reaches unicorn status with $150M funding led by Silver Lake
Cyber Yachts announces world’s most expensive NFT priced at $400M
Grammys 2022: NFTs hot topic of discussion among musicians and industry experts
SecuX unveils world’s first NFT-focused hardware wallet to compete with Ledger Nano S Plus
NFT artist FEWOCiOUS raises nearly $20M in digital art sales in 24 hours
Gary Vaynerchuk-backed Swoops raises $3.5 million for NFT basketball game
Stellar users can now earn NFTs by solving difficult quests on network
Transaction Volume Benchmark
* Week-on-Week (WoW) % change is calculated based on the differences between two subsequent 7-day periods
* Year-to-Date (YTD) volume is calculated from the first day of the current year to the current date
* Transaction count & average price refers to the number of traders and average price of the 7-day period
* LooksRare launched on 10 January 2022
* X2Y2 launched on 16 February 2022
* LooksRare, OpenSea data from Dune Analytics
* X2Y2, NBA Top Shot data from DappRadar
* Solanart data from Solanart.io
Top Collectibles
* Collectibles data from CryptoSlam.io
The following chart shows selected top NFTs and their historical floor prices.
Upcoming NFT Sales
The following information shows top upcoming NFT sales and a sample of their art.
Project Name: Chilled Camel Club
Sale Date: 29 Apr 2022
Price: 1.5 (SOL)
Items: 10,000
Market Cap: 15,000 (SOL)
Project Name: MetamonGo
Sale Date: 15 Apr 2022
Price: 0.2 (ETH)
Items: 40,000
Market Cap: 8,000 (ETH)
Project Name: Fancy Fox Association
Sale Date: 1 Jun 2022
Price: 0.8 (SOL)
Items: 9,189
Market Cap: 7,351.2 (SOL)
Project Name: AquaHeads
Sale Date: 30 Apr 2022
Price: 2 (SOL)
Items: 3,333
Market Cap: 6,666 (SOL)
Top Artists
The following information shows selected top artists (by sales volume on each platform) and a sample of their art.
Platform: Crypto.com NFT
Artist: Ballies
Sales Volume (USD): $2,000,000+
Platform: Solanart
Artist: Degenerate Ape Academy
Sales Volume (USD): $274,584
Platform: OpenSea
Artist: MOAR
Sales Volume (USD): $23,059,293
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