May 5 2022
NFT Market Update
The daily trading volume on OpenSea was up +8.7% yesterday, with approximately $177.2 million traded. Yesterday’s pump was largely due to it being the mint/launch date for several high-profile projects, including Phantom Network (Project PXN) and Kahiru.
Source: Dune Analytics
A very welcome day in the green for most of the major cryptocurrencies. Bitcoin is up 1.4% over the last 24 hours at $39,466 and Ether is up 3% at $2,920.
PXN Ghost Division
Project PXN was the most hyped-up NFT project since the Otherside Metaverse Deed sale, and enjoys a cult-like following and more than 428.1k followers on Twitter. The first mint phase concluded earlier today – a Dutch Auction starting at 2 ETH – which sold out in a matter of minutes. Anyone who participated in the Dutch Auction had to purchase each PXN Ghost NFT for 2 ETH + an average of around 0.5 ETH gas. The collection saw a lot of volume during the first hour where the collection rose to a high of 4.65 ETH before losing momentum. The collection is sitting at a floor price of 2.55 ETH at the time of writing, and the whitelist mint is scheduled to take place later today (8:00 pm EST), where everyone eligible will be minting a maximum of 1 NFT per wallet for 0.35 ETH. The floor price of this collection will likely dump more before it can reach new all-time highs due to the pending profit-taking by investors who will be able to pocket around 2 ETH immediately after minting.
Supply Count: 10,000
Dutch Auction Mint Price: 2 ETH
WL Mint Price (taking place later today): 0.35 ETH
Current Floor Price: 2.55 ETH
Kahiru: Heroes of Ruy
KAHIRU is a 3D anime NFT project with a total collection size of 7,222 digital avatars created by Hodei Piquer and a fully doxxed team. The mint for Kahiru occurred earlier today and they sold out in less than an hour during their public sale. The collection soon saw a lot of trading volume during the first 30 minutes, taking the floor price from 0.19 ETH to as high as 0.28 ETH during its all-time high. The floor price immediately tanked to a low price of 0.135 ETH before slowly stabilizing and regaining momentum. The floor price of this collection currently sits at 0.168 ETH at the time of writing, as the community is excitedly awaiting the reveal phase.
Supply Count: 7,222
WL & Public Mint Price: 0.12 ETH
Current Floor Price: 0.168 ETH
Sleep Exhibition is a collection of six different kinds of music NFTs produced by K-Pop musicians Sion, Mommyson, Chanju, Zior Park, and Wonstein. Sleep Exhibition was a relatively unknown project and it was under many people’s radars. The project first gained attention when a fairly hyped anime NFT project called Esion announced that anyone who held three Sleep Exhibition Music NFTs would be eligible to get whitelisted for their mint. The mint date for Esion is currently TBA but it’s expected to occur sometime within the next 4 to 5 weeks, according to their Discord. The entire collection was sold as a public sale, and it sold out in less than two minutes of launch. Since then, the collection saw sales as high as 1 ETH, but since then the volume of this collection has dropped substantially along with the average floor price, which currently sits around 0.246 ETH at the time of writing.
Supply Count: 3,000
Mint Price: 0.08 ETH
Current Floor Price: 0.246 ETH
Something Token first launched on April 07 2022, and it remained stagnant with close to zero volume for a month as it sat around a 0.1 ETH floor price. Earlier this week this collection pumped close to 500% as a result of a $6.9m fundraise by its founders, Americana, which has a core product (the NFTA Universal Chip) that can be attached to a physical object and links that object to a blockchain – essentially, turning physical objects into NFTs. This collection has since lost more than 66% of its value in the last 48 hours, and it currently sits at a floor price of 0.174 ETH at the time of writing.
Supply Count: 10,000
WL & Public Mint Price: 0.069 ETH
Current Floor Price: 0.174 ETH
The Oddstronauts is an NFT collection created from the vision of two unlikely friends who eventually became brothers, Alyo and Owen Khang. Aylo and Owen set out to innovate NFT utility by implementing NFT technology into their real-world retail business, a family-owned boba shop. The mint whitelist mint phase for Oddstronauts began on May 2nd, and the collection finally had its reveal phase earlier today, which ended up pumping the floor price of this collection. A few of the rarer trait NFTs sold for as high as 0.235 ETH, but the floor price has since then stabilized to a current price of 0.12 ETH at the time of writing.
Supply Count: 10,000
WL & Public Mint Price: 0.05 ETH
Current Floor Price: 0.12 ETH