NFT Market Update
The NFT market continues to see the daily trading volume on OpenSea under $50 million for the past two weeks, but the trading volume has shown strong support levels around the $40 million dollar range which is higher than what we’ve seen the previous week.
The daily trading volume on OpenSea yesterday was down -5.7% for the day with approximately $39.3 million dollars traded.
Source: Dune Analytics
The global cryptocurrency market cap was down -5.2% during the last 24 hours with a total market cap of 1.24 Trillion dollars which negated the gains we have seen two days prior. The cryptocurrency market sentiment still looks to be bearish at this time.
Bitcoin was down approximately -5.4% in the last 24 hours at $29,936 per BTC, and Ether is down -6.1% at $1,821. SOL is down -11.6% and trading around $39 while AVAX is down -9.6% and trading around $23.
Launched and Trending Projects
Piece of Shit
Piece of Shit, otherwise known as the “ill poop it” NFT collection first minted less than 24 hours ago on May 31st, 2022. This collection is inspired by the recent success of goblintown and the artwork as well as their official website seems to give off a similar vibe. The Piece of Shit collection is the number one trending collection on OpenSea by volume, with more than 1.2K ETH traded in less than 24 hours since its launch. The floor price of this collection sits at 0.223 ETH at the time of writing which is around 30x the initial mint price which is an incredible feat. The project has no community, Discord, utility, or roadmap that has been planned or announced to date.
Supply Count: 10,000
Mint Price: First 2,000 free. Rest for 0.00777 ETH
Current Floor Price: 0.223 ETH
Zombiestown.wtf is yet another derivative project inspired by the success of goblintown, except this time it’s with zombies. Zombiestown has a total supply size of 7,775 ugly zombie NFTs in its collection, and it was free to mint for the first 2,777 NFTs and the rest were sold at 0.0035 ETH. Just like the Piece of Shit collection, this project also did incredibly well for early investors despite it being a complete derivative project with less than 1.8k followers on Twitter. The floor price of this collection sits at 0.118 ETH at the time of writing, and this is more than 30x gains for those that minted for only 0.0035 ETH earlier today.
Supply Count: 7,775
Mint Price: Free – 0.0035 ETH
Current Floor Price: 0.118 ETH
Boring One is a generative art collection with a total supply of 3,333 NFTs created by an anonymous artist going by the name of “Boring Boy”. The price was 0.035 ETH to mint, and the current floor price sits at 0.15 ETH. Unlike many goblintown-esque projects that have been popping off lately, the Boring One collection has an actual Discord server, and the art is extremely high quality which is refreshing, to say the least.
Supply Count: 3,333
Mint Price: 0.035 ETH
Current Floor Price: 0.15 ETH
First minted on June 1st, 2022. This is a zero effort project with no affiliation with goblintown. The floor price of this collection sits at 0.048 ETH at writing with more than 178 ETH traded.
Supply Count: 9,998
Current Floor Price: 0.048 ETH
Short for goblintown burgers, this collection with a total supply of 10,000 NFTs minted earlier today for 0.005 ETH. The collection sold out, sits at 0.05 ETH, and it has more than 174 ETH traded at the time of writing.
Supply Count: 9,999
Current Floor Price: 0.05 ETH
Another project inspired by the recent success of goblintown decided to create goblin girls as a homage to the goblintown collection, despite them having no actual affiliation. The floor price currently sits at 0.89 ETH and it has seen more than 1.6k ETH in trading volume since its launch on May 24th. The collection saw relatively low trading volume until just recently when all of the goblintown derivatives began to pump.
Supply Count: 10,000
Mint Price: N/A
Current Floor Price: 0.89 ETH