May 23 2022
NFT Market Update
The trading volume on OpenSea has been fairly stagnant over the weekend and overall still showing low volume compared to earlier this month, when we saw the daily trading volume well over one hundred million dollars per day. The daily trading volume on OpenSea yesterday was up +6%, with just over $36.7 million dollars traded.
Source: Dune Analytics
A positive weekend for the major cryptocurrencies. Bitcoin is up 2.6% over the last 24 hours at $30,321, and Ether is up 3.7% at $2,054.
Launched and Trending Projects
Rare Land was a free to mint project that launched earlier today. Holders are able to play the Rare Land game which has more than 100 different songs available. The collection sold out quickly and reached a high of 0.05 ETH. The Rare Land collection has since then dropped to as low as 0.01 ETH before slowly regaining momentum and reaching a current floor price of 0.015 ETH.
Supply Count: 10,000
Mint Price: Free
Current Floor Price: 0.015 ETH
Goblintown.wtf is a new NFT project that minted over the weekend and took the NFT space by storm. The hand-illustrated PFP art is one of the ugliest in the business, but that didn’t affect the floor price of this collection one bit. The project grew completely organically while they had less than 10k followers on Twitter. The floor price of this free mint collection sits at 0.56 ETH at the time of writing, which makes this collection quite extraordinary, and so far there is more than 3.7k ETH worth of trading volume for Goblintown – and they launched less than three days ago.
Supply Count: 9,999
Mint Price: Free
Current Floor Price: 0.56 ETH
The Boki collection was a hyped project that first began its mint phase less than three days ago on May 19th, 2022. After selling out, the collection experienced relatively low trading volume on OpenSea during the first 48 hours due to the many hiccups during mint phase due to smart contract issues. The volume for Boki has been picking up during the past 24 hours along with its floor price. The floor price of Boki sits at 0.218 ETH at the time of writing, which is more than 3x the initial mint price, and it seems most of the FUD surrounding this project has dissipated (for the time being).
Supply Count: 7,777
Mint Price: 0.066 ETH
Current Floor Price: 0.218 ETH
Milady Maker is an older project that launched some time in August 2021, which had a mint price of 0.08 ETH. The collection has been showing a lot of volatility and brow-raising price action during the past week. On May 11th, the average floor price was around 0.33 ETH, and on May 18th, the floor price reached 1 ETH. The floor price of Milady Maker sits at 0.38 ETH at the time of writing.
ApeReunion was a free to mint project which first minted on April 19th, 2022. There has been relatively low volume for the past three weeks. Just in the last 24 hours, the sales volume increased by 229.91%, and many notable buyers have been purchasing the rarer trait NFTs for 3x to 4x the floor price. The floor price is 0.138 ETH at the time of writing.
What are your hobbies outside of NFTs?