Weekly Recap 10/2-10/8 - MVHQ

Weekly Recap 10/2-10/8

MVHQ Staff
Oct 9, 2023
Weekly Recap 10/2-10/8

Monday 10/2


It was a welcomed start to the week as marketplace activity once again held its pace with pockets of action and increased overall sentiment. A short crypto rally continues to hold traders attention as the broader market also sees some sustained life. Velocity Series NFTs saw a sharp 25% spike after a special artist was announced for the next phase of the collection. The Pudgy ecosystem also saw its own slight nudge in the green as recent momentum remains strong. Overall marketplace volume checked in at $8.1m, our highest closing number since September 15th. ETH took a slight tumble back toward the $1675 range.



  • Popular crypto database Arkham, launches their Points 2.0 system to reward users for a potential upcominghttps://twitter.com/JJangBang429 stimmy. Sign up here using MVHQ's referral link and get access today.

  • The Museum of Modern Art is launching a new NFT called "MoMa Postcard." The project will feature 15 notable artists, including Grant Yun, will launch on October 3rd.

  • Oracle Red Bull Racing announces ArtBlocks Founder, Snowfro, as the next artist for its Velocity Series.

  • Boss Beauties, a Web3 entertainment brand focused on uplifting and empowering women, announces its acquisiton of digital community, BFF. The story was also covered by Forbes Magazine.

  • TopShot celebrates its 3rd birthday by unveiling its new Packs Marketplace, with Series 1 Legendary and Rare packs available to be traded now.


MVHQ Spotlight:

  • It was a historic day inside MVHQ as one of our most beloved members, 0xJJangBang, became the first 2-time winner of our MVP award. JJ is one of our communities sharpest members has been an iconic figure from the start. Thank you for all you do! JJ takes home a 2.6E total prize, a free MVHQ key and a special commemorative art cover



Tuesday 10/3


MVHQ is excited to welcome the Unblocked community to our Daily Recap distribution network! Unblocked modernizes brand loyalty by turning passive followers into active participants with an always-on platform where users can freely engage with stories, brands and IP holders who drive culture and innovation.

Meanwhile in the metaverse, news came in at a steady pace with Veefriends launching a big chai-flavored collab and SBF's trial beginning. Despite no collections managing to trade over 500E on the day, Pudgy Penguins (5.25E) saw a bullish 11% rise in the floor. Total NFT volume found itself in the dregs again with only $5 million traded as ETH tumbled down to $1635.



  • Billboard's Web3 gaming platform, Playback, announced new features that allow users to earn NFTs redeemable for prizes like $USDT or IRL experiences. Be on the look out for an MVHQ Mission with Billboard in the near future!

  • Veefriends continued their announcement train by detailing their partnership with Gregory's Coffee to offer a Jolly Jack-O pumpkin chai latte beverage during the month of October.

  • LayerZero Labs has been tapped to provide infrastructure for China's BSIM card and underlying blockchain interactions.

  • Watchmakers Diesel and Fossil have teamed up to offer a collaborative experience which sees users able to obtain both a physical watch as well as a watch NFT with exclusive benefits.

  • The much-maligned Sam Bankman-Fried of FTX acclaim began his trial today for actions occurring around the crypto-based platform last year.

  • Opensea announced the launch of their Opensea Studio which aims to ease the burden and lower the barrier of entry for creators looking to launch NFT projects.


MVHQ Spotlight:

  • With October in full swing MVHQ is blessed to have another in-depth Macro Field Report from the econ-expert himself, Shaggy! Shaggy's masterfully written monthly reports detail the state of the bond market, fiscal narratives and all the downstream consequences. Get a view of the month ahead in the Field Reports channel today!



Wednesday 10/4


It was a heavy news day in Web3 as a number of notable brands and projects provided updates. Action in the Friend.Tech streets went a little haywire as Web3 influencer and whale, Machi Big Brother, joined the fun and purchased 100 of his own keys. Additionally, a round of sim swaps have triggered mass scams in the FT world, causing concern about the overall security measures being taken to protect users.

Nike continues to make its mark on a variety of Web3 levels with its first .SWOOSH physical footwear deliverable and also the announcement of another forging event via RTFKT. Memeland prepares to launch its upcoming $MEME token and Pudgy Penguins surge upwards with floors marching back towards 6E. Overall marketplace volume closed at $6.8M with ETH holding in the $1630 range.



  • Nike's .SWOOSH digital creation platform unveils its first ever physical sneaker with the TINAJ. The drop opens on October 20th for members only via the SNKRS app.

  • Pudgy Penguins tease a collab with popular cookie company, Last Crumb.

  • RTFKT announces a new forging event for its Nike Dunk Genesis CRYPTOKICKS, set to open on October 18th.

  • Dapper Labs, the NBA and the NBA Players Association have been named in a class action lawsuit in California stemming from allegations of sharing user' video data and information without consent.

  • Memeland will be stopping Memecoin waitlist code submissions in the next 24 hours and will begin preparation for its official $MEME launch in October.

  • PROOF announces that the team has downsized staff due to current market conditions.

  • Magic Eden announces a new VIP program designed to help buyers and sellers of high value digital collectibles.


MVHQ Spotlight:

  • Our latest pack opening was so brutal one of us left in an ambulance... Watch us open $5,000 of Draftkings Reignmakers cards in our latest episode of LET'S RIP!!



Thursday 10/5


It was not quite a day for the history books of Web3 as relevant news was slow to roll in in across the metaverse. Most notably Zora announced a way for creators to bypass minting fees on their own collections launched on the platform. Otherwise, NFT collections still saw depressed trading volume although BAYC (700E vol.) was able to clear the increasingly difficult 500E in volume hurdle. Total marketplace volume came in at a hair over $6 million as ETH stayed in its range around $1625.



  • Zora, the popular minting platform for indie NFT creators, has found a way for creators to mint their NFTs for free with later minters taking the brunt of the fee.

  • Fairblock announced a raise of $2.5 million to facilitate their efforts of making blockchain transactions private with a level of encryption.

  • In similar downsizing measures seen across the industry recently, Ledger cut nearly 12% of its staff, citing macroeconomic headwinds as the primary cause.


MVHQ Spotlight:

  • As the DFS degens get into gear for the weekend slate of NFL action, MVHQ's resident-sharp, Roothlus, returned with his weekly slate analysis to give all of MVHQ the edge they need to succeed in DFS and Reignmakers in Week 5.



Friday to Sunday 10/6-10/8


It was an interesting weekend to say the least as alarming details emerge regarding alleged scammery and ruggery surrounding Pudgy Penguins CEO Luca Netz. In a wild series of events, and on the back of recent Pudgy success, Luca made the rounds on Friday attempting to clear the air and explain the allegations. Yuga also unveiled some somber news as it became the most recent Web3 behemoth to announce layoffs and company restructuring. Overall marketplace volume slowed to a crawl to end the week as Sunday closed at $4.8m, which is a new local low, bringing our 3-day average to just over $5.7m. ETH continues to hold above the $1620 range.



  • Yuga Labs announces a staff restructure and downsize, choosing to re-evaluate the companies core competencies and move forward full steam ahead with its Otherside experience.

  • Luca Netz faces serious allegations of fraud, scams and ruggery prior to his purchase of Pudgy Penguins according to an expose from on-chain analysis from okHOTSHOT.

  • Moonpay unveils a new in-app, cross-chain swapping resource called "Swaps."

  • Frank DeGods details "The Comeback," a renewed vision that aims to "reset, unify and clarify" his NFT project.

  • Doodles holders are eligible to attend a VIP preview of co-Founder Burnt Toasts first solo art show on October 11th in NYC.


MVHQ Spotlight:

  • Did you touch a little too much grass last week? Don't worry, we have you covered! Sign up for the MVHQ Newsletter and stay cookin!