May 9 2022
NFT Market Update
Yesterday’s trading volume on OpenSea was down approximately -34.6% from the day before, with approximately $52.3 million worth of trading volume for the day which is the lowest we have seen since March 6th, 2022.
The daily trading volume on OpenSea has been seeing a sharp decline ever since the beginning of May, when we saw a monumental pump following the Otherside metaverse land drop by Yuga Labs.
Source: Dune Analytics
Another day in the red after a traumatic week for cryptocurrencies. Bitcoin is down 3.7% over the last 24 hours at $33,298 – taking Bitcoin down over 14% in the last 7 days. Ethereum has experienced a similar fate, with Ether down 4.8% over the last 24 hours at $2,433 – meaning Ether is down 13.5% over the last 7 days. Ouch.
Mindblowon is a collection of 6,969 NFTs created by the team behind @Tahilalats. They publish comic strips on a daily basis on various social media platforms. Mindblowon Universe was a highly anticipated project which began its first mint phase on May 6th – it sold out in less than two minutes at the starting price of 0.69 ETH. The floor price of this collection started at a 2 ETH range as soon as the Fair Dutch auction was sold out, which was close to a 300% profit for traders who listed their Mindblowon NFTs for sale. Since then, the floor price of this collection has fallen substantially as it currently sits at 0.369 ETH (which is below the public Dutch auction mint price). There is speculation in the NFT space that Mindblowon will be one of those projects that end up pumping after its reveal phase, but only time will tell.
Supply Count: 6,969
Public Fair Dutch Auction: 0.69 ETH
Current Floor Price: 0.369 ETH
Hyundai Metamobility – Shooting star is an official and original NFT collection of Hyundai Motor Company which had its mint phase earlier today. This collection consists of 10,000 NFTs with randomly generated traits, and each shooting star will be transformed into the actual Metamobility NFT in late May. Hyundai Metamobilty was an extremely hyped project with over 19,500 contestants that applied to get whitelisted by doing engagement farming-related tasks such as inviting five friends via Discord, fan art competitions, and idea submissions. Despite a great deal of hype surrounding this project, the floor price of this project began at around a .27 ETH which immediately fell to as low as 0.19 ETH during the first 20 minutes of its mint phase. Since then, the collection pumped to a high of 0.288 ETH before steadily falling to its previous price of 0.196 ETH where it currently sits before its reveal phase.
Supply Count: 10,000
WL & Public Mint Price: 0.15 ETH
Current Floor Price: 0.196 ETH
Skyverse is a collection of 5,000 floating sky metaverse NFTs which launched their WL mint phase just a few hours ago earlier today. Skyverse has been delaying their launch for close to 6 months due to NFT market conditions according to a statement from their team. So far, in 2 and a half hours, the collection has sold out of half its intended supply of 5,000, and tomorrow will mark the 2nd and 3rd stages of their mint phase (reserve list and whitelist mint #2). The floor price of this collection is sitting around 0.139 ETH at the time of writing with about 21 hours to go before the next mint phases begin.
Supply Count: 5,000
WL & Public Mint Price: 0.1 ETH
Current Floor Price: 0.139 ETH
Kuroro Ferry Tickets (Kuroro Beasts)
Kuroro Beasts is a first-of-its-kind PVP-focused RPG and a creature collection NFT game. This collection contains the Ferry tickets that are required to get to Kuroro island, and they could later be redeemed for a Kuroro Beast NFT for free. Kuroro Ferry Tickets were first minted on January 28th earlier this year. The collection launched a new Dutch auction mint phase to onboard new collectors earlier today, which ended up selling out in less than 30 minutes at a final price of 0.3 ETH. Since then, the collection has lost a significant amount of trading volume, and the floor price sits at 0.179 at the time of writing.
Supply Count: 5,800
Fair Dutch Auction: Started at 0.45 ETH, sold out at 0.3 ETH
WL Mint Price: 0.15 ETH (50% DA)
Current Floor Price: 0.179 ETH
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What is your current sentiment on the NFT market?