May 19 2022
NFT Market Update
The trading volume on OpenSea is still showing signs of uncertainty, as yesterday’s trading volume remains very slow and was down -9.1% with a total trading volume of only $38.6 million dollars.
Source: Dune Analytics
After last week’s calamitous plunge, the major cryptocurrencies have since been relatively steady. Bitcoin is up 1.8% during the last 24 hour at $29,727 and Ether is down 0.2% at $1,972.
To put this downtrend in perspective, this time last month Bitcoin was trading at $41,500 and Ether was trading at $3,100. Good times.
Trending and Launched Projects
Fat Cats Genesis began its mint phase less than 24 hours ago with a mint price of 0.08 ETH. The collection is in the middle of launch and 3.4k NFTs have so far been minted out of their intended supply of 5,000 NFTs. The current floor price of this collection sits at 0.098 ETH at writing, and this collection is currently in its second mint phase where those on the whitelist are able to mint a maximum of 10 NFTs per wallet. The third mint phase will open sales up to the public, and will begin later today.
You can read more about Fat Cats in our WGMI Spotlight.
Supply Count: 5,000
WL & Public Mint Price: 0.08 ETH
Current Floor Price: 0.094 ETH
Bears Not Okay
Bears Not Okay is a project by the creators of Not Okay Bears that ended up siphoning precious liquidity from the Ethereum Network. Their initial collection of Not Okay Bears was banned and removed from OpenSea, so they came up with a new project called Bears Not Okay which is a “redesigned collection” without the risk of IP infringement or getting de-listed from OpenSea. It ended up being a free mint, which helped this new collection sell out. However, this project now looks dead in the water with a total supply of 4,000 NFTs and only 572 owners. This looks like a rug project that’s destined to fail (not financial advice, DYOR).
BlankosBlockParty is an NFT project created by incredible brands and artists such as Burberry, TMC, and Quiccs which was first minted on January 31st, 2022. There are currently 3,464 BlanoksBlockParty NFTs in circulation and the floor price and volume of this collection have been picking up in the last 24 hours with close to around 400 sales compared to a daily average of only 2 transactions per day before that. The sudden floor price and sales volume increase behind BlankosBlockParty is due to the release of their new collection less than 24 hours ago called “Blankos x I Like You, You’re Weird”. The collection currently has a total supply of 1,800 NFTs with only 258 owners so the holder distribution ratio for this collection is highly skewed and unfavorable for most investors.
Blankos OpenSea: https://opensea.io/collection/blankosblockparty
Blankos x I Like You, You’re Weird OpenSea: https://opensea.io/collection/blankos-ilyy
Augminted Labs Scientists
Augmented Labs Scientists is the latest project to be released from the team behind Kaiju Kingz, and it was a free-to-mint project with a lot of new and interesting features. Those who minted had the option of paying for extra features on their NFT ranging from animation to even added special effects. So far there are 51.2k Augminted Labs Scientist NFTs that have been minted, and the current floor price of this collection sits at 0.01 ETH at the time of writing.
Ivy Girls is another new derivative project going by the name of IVY GIRLS (not affiliated with IVY BOYS) has launched its stealth mint earlier today. Fake derivative projects have been running rampant ever since the launch of ‘Not Okay Bears’ just three days prior. It is important to note that OpenSea has been cracking down on fake/derivative projects and the Not Okay Bears was no exception. It is likely only a matter of time before IVY GIRLS disappears from OpenSea altogether, so all degen investors should proceed with extreme caution when minting derivative projects – especially ones that don’t even have a website.
What is your favorite NFT and why?
@MachineBunFufu Blast from the past
Could this lead to Kendrick Lamar and Taylor Swift NFT collections?
Read the full article on the WGMI website … https://t.co/GhNUD1sN0v