Polymath NFTers đ§
Weekly Roundup: Mongraalâs Î1,000 sale, HyperPlay arrives, Uniswapâs wallet, and more!
Metaversal is a Bankless newsletter for weekly level-ups on NFTs, virtual worlds, & collectibles
Dear Bankless Nation,
The NFT space is incredibly multidisciplinary.Â
There are so many different verticals here, from analytics to wallets, as NFTs lie at the intersection of so many different fields like art, computer science, cryptography, economics, finance, history, the humanities, mathematics, philosophy, politics, and more.
You donât have to master every branch of the NFT skill tree, of course. Even just steadily progressing along in the areas you like most will help you hone a more multidisciplinary perspective going forward, and that will undoubtedly prove invaluable as this ecosystem continues to expand and become more complicated and varied over time.Â
For now, though, I hope you all just have a fantastic weekend. Letâs dive in and catch you up on the past weekâs biggest NFT developments âď¸
-WMP
đ Sponsor: Kraken â the most trusted and secure crypto exchange in the world â¨
đ§ The big picture
The cumulative market cap of the NFT space has continued its upward trend for the 7th consecutive week. This week, the market cap climbed from 9.46M ETH to 10.02M ETH, marking a 6% increase since the previous Friday recap. This rise in market cap comes after the NFT ecosystem just had its best 7-day weekly volume statistics since May 2022, signaling increased activity and demand.
đ This week by the numbers:
Last week, the leading blue-chip PFP collections contributed nearly 150k ETH to the NFT trading volume statistics. Among them, BAYC, MAYC, and Azuki experienced decent increases in floor prices, while MAYC, BAKC, and Moonbirds all recorded more than 2,000 sales over the week.
đ 7D top collections by volume
đ 7D NFT marketplace stats
Once again, Blur continues to dominate NFT trading volume levels. According to the graph below, the platform currently represents roughly 80% of the ecosystemâs 7-day trading volume, with OpenSea trailing far behind at approximately 18%. This overwhelming activity on Blur is, of course, largely attributable to the ongoing scramble to earn $BLUR Season 2 rewards.
đď¸ 3 biggest buys this week
There were no sales of 'Punks or Apes in the top three largest transactions this week, but that wasnât for a lack of major activity. On Monday, Fortnite esports professional and Yuga Labs's "Dookey Dash" competition winner Mongraal grabbed headlines and a major bag when he accepted a staggering Î1,000 bid for his top Sewer Pass key NFT!
đ° General news
ENS is on the verge of rolling out Name Wrapper support.Â
Zora saw a massive mint spike (+400k) from the Base, Introduced NFT drop by Coinbase.Â
đ Digital collectibles
Ordinal Inscription #1 has been listed for sale for 100 BTC.
đ¨ Cryptoart & music
fxhash, a popular Tezos-based generative art platform, added support for ETH payments.Â
Sound rolled out an optimized navigation panel.Â
đŽ Decentralized gaming
Axie Infinity updated its ELO and challenger decay systems.
Gods Unchained released an Open All Packs feature.
HyperPlay, a web3-native game launcher, kicked off its early access launch.
Parallelâs $PRIME token is now transferable, and Parallel Terminals are nigh.
đ Virtual worlds
Decentraland is getting ready for Metaverse Fashion Week.
ilemi spotted âMetaverse Landlords,â i.e. 181 addresses that have collected 100 plots of land across Decentraland, Otherside, The Sandbox, and Voxels.
đŞ NFTfi
Uniswap introduced a mobile wallet via Apple TestFlight.
rektguy NFTs are currently the highest-volume collection on NFTfi, a peer-to-peer lending marketplace.
đ Mint spotlight: Crowd
By the creators of the Creature World collection, the new generative Crowd series is the first open-edition mint to be launched via OpenSea. Dropped on Thursday and since closed, the series racked up over 38,000 mints at over Î0.029 a pop over the course of 24 hours. With over Î1,110 in primary sales and over Î250 in secondary sales so far, Crowd just ushered in OE season for OpenSea in a big way!
đ Mint watch:
Bankless Monday Mint â The latest Podcast NFT from Bankless Collectibles, âIs the CIA Spying on Cryptoâ featuring author and journalist Annie Jacobsen, dropped this week; at the time of writing 21 out of 100 editions were still available to mint at Î0.07 each (Thereâs also a 24h free Gauntlet Mint for Genesis Collectors ongoing today!)
đ 3 insightful threads weekly to level up your NFT knowledge!
1. soup on why Gem shouldnât be slept on:
2. Signal on recent big changes in the Moonbirds ecosystem:
3. Upshot on its upcoming arrival in the NFT lending scene:
⨠My NFT tool of the week: Mint.fun Customizing
Mint.fun is becoming the preferred minting frontend for many emerging NFT projects, and it just introduced an awesome new feature that allows creators to customize the layout and aesthetics of their collection's mint page. To access this resource, simply click the "Customize" button on the projects you have created while on the site.
đĽ In NFTs, context is everythingâŚ
This week, the wizard-themed Noun 627 auctioned for Î42.84, while the average clearing price of the previous 10 Noun auctions was Î26. This major spike is clearly the result of Nouns DAOâs recent release of âThe Wizardâs Hat,â an animated short and the decentralized brand collectiveâs second OE drop. The wizard-themed short has made the wizard-themed Noun that much more iconic, indicating the significance of context in the valuation of NFTs!
đ And another one⌠and another oneâŚ
We've all had bets that go to zero. Keep your chin up, though, because you automatically miss all the shots that you don't take!
Action steps
đ Read Whatâs New with ZKs? in Bankless
đą Watch RegenPunk with Gregory Landua on Green PillÂ
đ Catch up on my other write-ups from this week:Â
Author Bio
William M. Peaster is a professional writer and creator of Metaversalâa Bankless newsletter focused on the emergence of NFTs in the cryptoeconomy. Heâs also recently been contributing content to Bankless, JPG, and beyond!
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Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.
excellent work Will!