A quick look at events in the NFT market over the last 24 hours.

Daily Newsletter

May 20 2022

NFT Market Update

Daily trading volume on OpenSea remains steady and slow. Yesterday, volume was down 2.5% at $37.6m traded.   

Source: Dune Analytics

Crypto Update

A positive 24 hours for the major cryptocurrencies, but it does little to recover the damage done over the last couple of weeks. Bitcoin is up 4.3% over the last 24 hours at $30,328 and Ether is up 5.6% at $2,041. 

Project Launches

Okay Bears Yacht Club

Another day, another rug. A new derivative project inspired by BAYC and Okay Bears had its stealth launch – not to be confused with “Not Okay Bears” although the project website and M.O. are extremely similar. This latest “free to mint” project has been the number one trading collection on OpenSea in the last 24 hours. Many people seemed to have missed the memo that OpenSea has been cracking down on derivative projects, and many collections have been getting removed in recent days including the likes of “Not Okay Bears”. The floor price of this collection is currently sitting at 0.039 ETH with more than 194 ETH worth of trading volume since its launch. Investors are advised to proceed with extreme caution when purchasing any derivative project.

Supply Count: 7,777

Mint Price: Free

Current Floor Price: 0.039 ETH

Twitter: https://twitter.com/okaybearsyc

OpenSea: https://opensea.io/collection/okaybearsyachtclub


CeeFriends is another new derivative project that is inspired by the VeeFriends collection. There is not much to be said about this project except that it was free to mint, their official Twitter page has 463 followers, and the CeeFriends team began their marketing efforts on May 16th, 2022 for the very first time. Despite looking sus in every way possible, this derivative collection called CeeFriends was able to sell out of their 10k collection. The current floor price of CeeFriends sits at 0.006 ETH at the time of writing and it is likely only a matter of time before this collection disappears altogether from OpenSea.

Supply Count: 10,000

Mint Price: Free

Current Floor Price: 0.006 ETH

Twitter: https://twitter.com/ceefriends

OpenSea: https://opensea.io/collection/ceefriends


Boki is a hyped NFT project that had its public mint phase in the last 24 hours. The project ran into some unexpected difficulties as investors were unable to mint during the public sale – minters received an error stating that they needed to be on the allowlist to be eligible (which was an unintended glitch). This has resulted in only 4.4k of the 7,777 collection being minted. Since then, massive FUD for this project ensued on Twitter which is extremely unfortunate because most of the FUD came from smart contract issues which could have been avoided. The floor price of this collection sits at 0.16 ETH which is above the mint cost, but it could have been much higher if the team took the proper precautions for a successful launch. To mint the remaining Boki, the team is launching a new Premint to add addresses to the contract for minting, and will be open for an additional 24 hours. 

Supply Count: 100,000

Mint Price: 0.066 ETH

Current Floor Price: 0.16 ETH

Website: https://www.boki.art

Twitter: https://twitter.com/BokiNFT


Bears Not Okay

Bears Not Okay is the second project created by the same team as the ‘Not Okay Bears’ project. Their initial collection of Not Okay Bears got banned and removed from OpenSea, so they came up with a new project called Bears Not Okay which was their “redesigned collection” without the risk of IP infringement or getting de-listed from OpenSea (according to their team). The project sold out its free mint collection, but failed miserably thereafter as there has only been 10.4 ETH worth of trading volume for this collection. Any investor that is left holding one of these NFTs will have no one to sell it to as there is no more demand whatsoever for this fake Okay Bears derivative project. The floor price of this collection sits at 0.004 at the time of writing. 

OpenSea: https://opensea.io/collection/not-okay-bears-v2-2

Fat Cats Genesis

Fat Cats Genesis began its mint phase less than 24 hours ago with a mint price of 0.08 ETH. The collection had been slow to mint out at first, but eventually ended up selling out only 15 minutes after being open to sale to the public. The current floor price of this collection sits at 0.138 ETH at writing. Those who old a Fat Cats NFT are able to vote on decision in the DAO, and will own a pro-rated share of the Fat Cats holdings and their blue-chip collections. 

Supply Count: 5,000

WL & Public Mint Price: 0.08 ETH

Current Floor Price: 0.138 ETH

Twitter: https://twitter.com/FatCatsDao

Discord: Private/Locked

OpenSea: https://opensea.io/collection/fatcatsgenesis

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