NFT Market Update
The total volume of NFTs traded on OpenSea has increased by +7.74% in the past 24 hours, with approximately $136.9 million in daily transactions. The slight uptick means the surge of trading volume triggered by the Moonbirds launch has continued for a sixth consecutive day.
Source: Dune Analytics
Major cryptocurrencies are significantly in the red today, with Bitcoin down 5.7% over the last 24 hours at $40,257 and Ether down 5.3% at $2,990.
Launched and Trending Projects
Moonbirds / PROOF Collective
Moonbirds is the first PFP project from the PROOF Collective, which launched a mere 5 days ago today, and they have been on fire ever since they were released on the market. The PROOF Collective Genesis Passcards have pumped by more than 40% in the past 48 hours, taking the floor price to 140 ETH (approximately $420,000). As if that wasn’t enough, the Moonbirds collection has also had an incredible pump of its own in the past 48 hours, skyrocketing the floor price of the collection from 16 ETH to approximately 35 ETH where it currently sits. It seems the story of Moonbirds is just getting started, and it almost feels like there is no ceiling in sight for this project – at least for now.
The Association NFT (NBA)
The Association NFT (NBA) is a collection of 30,000 dynamic NFTs where there are 75 editions per player in the 2022 NBA Playoffs. These NFTs change in appearance based on player and team on-court performance. This mint for this collection is currently paused during its allowlist mint phase, with a current total circulating supply of 28,951 NFTs at the time of writing. The Association’s NBA NFT collection was the talk of the town as the floor price for this free mint collection went as high as 0.4 ETH during its peak. Since then, the collection has dipped as more people mint and put their NFTs for sale on OpenSea, which was to be expected. The current floor price of this collection is sitting at 0.25 ETH at writing.
Supply Count: 30,000
WL & Public Mint Price: Free + gas
Current Floor Price: 0.235 ETH
Ape Reunion is a collection of 2d pixelated ape PFPs with a total supply count of 10,000 NFTs, and they concluded their public sale earlier today. The project is a creation of three self-proclaimed highly motivated and talented individuals who hope to build their own successful NFT community.
Free mint projects are very low risk for investors, and Ape Reunion is no different. Although their team of 3 is undoxxed at this time, creating and launching a free mint NFT project shows they have a long-term vision, and the team is not out to make a quick buck. Free mint projects need to make their money off secondary sales on OpenSea to be profitable, so it is likely that the team behind Ape Reunion will be working hard to raise the value of their collection.
Supply Count: 10,000
WL & Public Mint Price: Free + gas
Current Floor Price: 0.015 ETH
Tomodachi AI’s Presale mint phase began approximately earlier today, and so far, there has been a total of 719 minted out of a total collection of 7,777 NFTs. The presale mint phase will last for 24 hours before the reserve list sale and public sale takes place. This collection is seeing very little trade volume and the floor price of Tomodachi AI on OpenSea is below the mint price, which is not a bullish indicator to say the least. The project is still early, and there are many more hours to go before the public mint phase so there is still hope that this project will sell out albeit it seems like a longshot.
Supply Count: 7,777
WL & Public Mint Price: 0.085 ETH
Current Floor Price: 0.083 ETH
WarKittens is the first on-chain Player vs. Player PFP. Owners can interact with their NFTs and decide how they want to participate in the battle by deciding to attack, steal or defend, and the NFTs will develop and evolve depending on the results. WarKittens Genesis lost steam during the last 12 hours as the floor price went from a high of 0.14 ETH to its current floor price of 0.077 ETH where it’s currently sitting. Many people seem to be jumping ship and selling this collection at a loss as the collection is trading for below mint price after selling out less than 24 hours ago.
Supply Count: 9,500
WL & Public Mint Price: WL – 0.077 ETH | Public – 0.088 ETH
Current Floor Price: 0.077