Weekly Recap 1/29-2/4 - MVHQ

Weekly Recap 1/29-2/4

MVHQ Staff
Feb 5, 2024
News
Weekly Recap 1/29-2/4

Monday 1/29

 

The week started off with a bang, or more of a blast to be precise, as The MVHQ App debuted its latest Mission on the Blast testnet! All eyes were on Quantum Cats as the headline mint, however, they immediately ran into problems with most users unable to mint causing a postponement until Thursday. Fortune Founders Keys (.13E, -22%) took quite the tumble as they caught flak from Dingaling on social media due to recent team decisions.

 

Volume was solid across marketplaces without being anything to write home about. ETH marketplaces traded around $20 million, more than both BTC and SOL markets combined. ETH itself finally played a little catchup to the rest of crypto to close the day above $2300.

 

News:

  • Magic Eden officially launched their multi-chain wallet solution to the public today, which brings with it increased odds for some allowlists, points multipliers and more.

  • Veefriends announced details of Eruption 15, a continuing effort to burn Book Games NFTs, where the grand prize winner will be awarded with an all-expenses paid trip to the 2024 NBA All-Star game.

  • A subsidiary backed by Animoca Labs today announced a strategic partnership with the Web3 studio behind Deadfellaz, DFZ Labs

 

MVHQ Spotlight:

  • MVHQ's latest Mission is live right now, featuring the one of the biggest upcoming blockchains, Blast! Users can get started in earnest with their Blast farming on the MVHQ App today!

 

 

Tuesday to Wednesday 1/30-1/31

 

It was a bloody few days in the market as liquidity dried up and floor prices trended downward. Many traders seemed to move more conservatively as the $JUP airdrop approached and subsequently passed. Speaking of, $JUP opened its claim this morning for users which caused such a logjam, the entire Solana network and many RPCs struggled to keep up. Always nice to see the power of some overly-excited degens.

 

NFTs saw the latest nightmare fuel turned AI art mint out in the form of Roope Rainisto's Smiles. Along with Claire Silver's forray back with BrainDrops, it was a fairly successful few days for AI art across the blockchain. Many big collections saw a downtrend to the tune of 5-10% like Azuki, Pudgies, and Pixelmon as ETH marketplaces did their best to stay above the $15 million in volume traded mark both yesterday and today.

 

News:

  • After a host of issues arose on their platform and still needing more time, Quantum Cats postponed their highly anticipated mint, for a second time, until next Monday, February 5th.

  • Draftkings Reignmakers kicked off their PGA season with their first big batch of pack drops where degens quickly dropped hundreds of thousands of dollars to crack some packs and participate. The first contest goes live tomorrow!

  • Art Blocks, the leader in generative art NFTs, announced today their acquisition of Sansa, a secondary marketplace catering to generative art and its collectors.

  • Immutable's zkEVM powered by Polygon officially launched its early access for mainnet is live today! Users with an Immutable passport can test out the chain now.

  • Animoca Brands announced a partnership with LightLink in order to bring gasless transactions to their suite of games and platforms.

 

MVHQ Spotlight:

  • Have you heard about the latest sensation sweeping the Blast Testnet? It's the MVHQ App's latest Mission! Head on over to mint your very own Blast Testnet NFT and join the over 250,000 other mints celebrating the new L2's launch!

 

 

Thursday 2/1

 

Boredom reached a peak in Web3 as seemingly the only activity of note involved trying and failing to claim Pauly's latest rug-bound token. While many focused on his $PORK coin, others put their nose back to the grindstone to bring some much-needed volume back into markets. Killabears (1.27E, +60%) were surprisingly the biggest beneficiary of the volume spike which saw major marketplaces trade $21 million. ETH maintained the party line right at $2300 as crypto had a more calm day compared to its recent weeks.

 

News:

  • Squid announced a funding round of $4 million led by Polychain Capital to continue to build out their cross-chain token swapping infrastructure.

  • Mocaverse launched their Shard Rush program today in an effort to change the way people develop online identities tied to on-chain engagement.

 

MVHQ Spotlight:

  • Are you interested in getting involved with Blast's ongoing Big Bang competition? Check out MVHQ's Office Hours where builders discussed ideas and gameplans to succeed. The recording can be found in the Video Content section of the MVHQ Discord today!

 

 

Friday to Sunday 2/2-2/4

 

A few pockets of activity helped keep an otherwise quiet weekend afloat after Solana's Deez Nutz found nice traction with floors on single Nutz cresting above 0.02 SOL. Bitcoin Puppets also made new highs as floor prices broke 0.08 BTC and have now settled back into the 0.065 BTC range. ETH NFTs also saw some action with upstart collection Nobody seeing heavy volume after minting out at nearly 0.2E and floors now nearing 1E on over 4K ETH in volume. Overall NFT marketplace volume closed the week at $48.3M with ETH accounting for nearly $30M.

 

News:

  • Animoca Brands and Forbes Web3 are teaming up with Open Campus to unveil their new OC 100 initiative, aiming to recognize the top 100 creators in Web3.

  • GMoney confirms he took a $1M loan against his Ape trait CryptoPunk in what is being called the largest NFT loan in history. The loan spans 6-months at a 14% APR.

  • Killabears unveils a new Web3 game studio called "Killahames." The stuido is being built on Solana mobile and aims to "evolve into a full-scale game economy..."

  • Pixelmon announces an $8M fund raise via the $MON governance protocol with a host of notable investors.

  • Ryder Ripps and Jeremy Cahen (Pauly0x) have been ordered to pay $9M to Yuga Labs after a court made final judgement on their lawsuit.

 

MVHQ Spotlight:

  • Congratulations to our first 3-time MVP winner 0xMrBull! He's been printing alpha on all chains, helping MVHQ members cook massive wins! Our MVP is awarded 2.5E and a 2024 MVHQ membership token.

  • Join us inside MVHQ every Monday for Wake & Jake! JakeandBake and TopHatCat spark up your Monday with a lifted preview of the week ahead. Join us tomorrow at 12PM EST, live inside our Voice Chat!