Weekly Recap 2/19-2/25 - MVHQ

Weekly Recap 2/19-2/25

MVHQ Staff
Feb 26, 2024
News
Weekly Recap 2/19-2/25

Monday 2/19

 

Stimmy season kept right on rolling as Pixels finally airdropped their eponymous $PIXEL token to their hard-working scarrot farmers after over 6 months of time in the metaversal fields. With an instant listing on Binance and plenty of upward momentum, $PIXEL held strong above $0.50 per coin, much to the celebration of gamers across Web3. In the far reaches of obscure L2s, Merlin chain also continued to garner more bullish support as it prepares for its own TGEs. This was certainly a hot start to the week with more airdrops and claims expected.

 

Degens were clearly flush with cash based on their volume in the marketplace, boasting an impressive $40 million traded today, a high not seen in quite some time. ETH did its best to follow suit by almost touching $3000 before rejecting it to close the day at $2930. There's always tomorrow ETH.

 

News:

  • Popular gaming project Pixels launched their $PIXEL token airdrop for users who engaged in either of their 2 P2A (Play to Airdrop) campaigns. The token is currently trading at $0.60 per token.

  • Armed with some incredible backing, Ethena.Fi launched today with their own version of a points campaign, with many big names coming out of the woodwork to shill it.

  • Ten Autoglyph NFTs by Larva Labs were sold today for $14 milion in what goes down as one of the biggest generative art sales of all time.

  • Microsoft and Xbox officially welcomed Web3 game studio, Gunzilla Games, to the Xbox Store with their first game, Off the Grid, marking a noteworthy day for Web3 developers.

 

MVHQ Spotlight:

 

 

Tuesday 2/20

 

It was as if Oprah herself presided over the crypto space today shouting "You get a stimmy, and you get a stimmy, and you get a stimmy!" Degens across Web3 awoke to find that sometimes it really is that easy, as Starknet and Optimism both delighted their users with fresh injections of liquidity. Outside of the money proverbially raining from the sky, all eyes were on ETH as it finally managed to crack $3000 with some conviction this time. Nice going ETH, I always knew you had it in you.

 

NFTs saw of some of the bullishness spill over into their sector with Moonbirds (2.2E, +23%) catching the next leg of their Yuga-fueled pump and topping the charts with nearly 2000E of volume by themselves. Someone's bullish on the birds out there. Overall marketplace volume was down from yesterday at $33 million as ETH closed out the day just under $3000.

 

News:

  • Starknet opened the claiming for their highly anticipated $STRK token where users rushed in to claim the fruits of their airdrop farming labors.

  • Optimism also hopped on the airdrop train to announce their $OP Airdrop #4. Optimism users and contract creators specifically were handsomely rewarded for their efforts the past few months.

  • 9dcc is launching the first on-chain fashion collection in collaboration with NFT Paris and Paris Fashion Week 2024.

  • Euroleague has partnered with SPORTPASS, an Animoca backed project, to offer unique benefits and experiences to fans via the Web3 collaboration.

 

MVHQ Spotlight:

  • MVHQ is holding a Town Hall, Wednesday, Feb. 21 at 1 pm PST. Make sure to tune in inside of the MVHQ Discord to hear all about our newest Missions, including the 2024 MVHQ Key Allowlist Mission! More details will be revealed tomorrow. See you there!

 

 

Wednesday 2/21

 

Wednesdays are turning into the most exciting days of the week in Web3 as MVHQ launched another tranch of exciting Missions on their platform. Layer onto that another exciting round of airdrops from $VOYA and $ARCD and baby you've got a stew going. Yuga Labs also looked to rectify some of the FUD surrounding them on the timeline by reinstating Garga as the CEO with Daniel Alegre getting the boot after just a year in charge. Some reign that turned into eh?

 

Volume was again strong on the NFT side with ETH marketplaces able to trade over $42 million in volume, setting up another local high not visited in quite some time. The big winner on the day was the king of the Web3 jungle, BAYC (24.4E, +13%). The Club saw such an impressive day off the back of the CEO announcement no doubt. ETH and other major crypto took a bit of a tumble for seemingly no apparent reason. ETH ended the day around $2940 still not able to stick the landing above $3k.

 

News:

  • Do Kwon is set to be extradited to the United Statesfor his involvement with the Luna collapse and ongoing cases.

  • Garga made the big reveal that he is stepping back into the CEO role at Yuga Labs, where Daniel Alegre is stepping down, in order to renew a focus on BAYC and it's cryptonative community.

  • Portal announced that Binance will be hosting a Launchpool as well as trading for its soon-to-release $PORTAL token. Pre-market and OTC trading jumped to nearly $2 per coin upon this announcement.

  • Leading NFT lending protocol, Arcade, opened up initial waves of claiming for their $ARCD token to holders of partner projects for their Clash of Claims initiative.

 

MVHQ Spotlight:

  • Metaverse HQ held their 2024 Token Mint Town Hall today which was chock-full of alpha and information about what's to come in the new year for MVHQ. If you missed the info but want to get caught up to speed, be sure to check out the Video Content channel inside MVHQ to listen to the recording today!

 

 

Thursday 2/22

 

All eyes were on Persona, the veritable belle of the ball, as ETH was back in the spotlight giving degens a taste of what the glory days felt like. Clear transactions, full gas, can't lose! However, just a touch of the shine wore off as investigators found the public auction contract could be gamed to more easily win an allocation. Tsk tsk tsk and here we thought we saw the last of dollar store devs. Alongside Persona's mint, Magic Eden and Proof of Play had a good day of announcements while Dmitri Cherniak, Refik Anadol and others released limited edition books with an edition NFT attached.

 

Volume trended downward despite Persona's strong showing on secondary. Major marketplaces traded $30 million in volume, with most of that coming from Persona and BAYC farmers on Blur. ETH again tried to break through $3k, but sadly closed the day closer to $2960.

 

News:

  • Persona, the hottest ETH mint in recent memory, minted out today following their public auction which sold out at the highest rung of .29E. Some FUD appeared on the timeline as Web3 sleuths were able to uncover the mint was not provably fair based on contract mechanics.

  • Yuga Labs' Eric Reid posted a blog update on the state of Otherside development and expectation management. Sentiment was far from positive following the release as many questioned whether Yuga was still intending to build a "game" or not.

  • The two studios behind DeGods and their other entities, DeLabs and Dust Labs, have officially merged together while naming Frank DeGods as the new CEO.

  • Magic Eden excited degens with the announcement that their retroactive diamond claim for ETH network users will go live March 13th.

  • Pirate Nation's parent company, Proof of Play, announced they are launching their own Proof of Play Multichain to house their ecosystem of on-chain games.

 

MVHQ Spotlight:

  • Airdrop farming can be a tedious if not confusing process. Thankfully MVHQ legends Scottco and Seinfeld have the perfect remedy! Find their comprehensive guide to SOL airdrop farming on the MVHQ Blog today!

 

 

Friday to Sunday 2/23-2/25

 

It was a weekend of opportunity in the world of Ordinals as NodeMonkes, BTC Puppets and RSIC all saw sustained momentum, pushing floors up on strong volume. Over on ETH, Persona continued its roller coaster ride with steady volume but floors under 0.38E. Creepz saw over 500E in volume and floors back above 4.5E, while the majority of other notable projects finished in the red. Overall marketplace volume closed just under $69M (NICE!) with BTC marketplace volume making a massive push, finishing at $27M, just behind ETH's $30.5M.

 

News:

  • Blast revealed the 47 winners of their Big Bang Competition out of over 3000 entrants.

  • Eigen Labs announced $100M funding round led by a16z Crypto. The company is responsible for the creation of the EigenLayer protocol.

  • Yuga Labs confirmed at NFT Paris an upcoming Dookey Dash tournament with a $1M prize pool, with early access open for 10k players on March 6th.

  • Magic Eden has teamed up with Sappy Seals to bring the "first tokenized physical collectible" to ME's new ETH Launchpad.

  • Unstoppable Domains and Pudgy Penguins have partnered up for new personalized .Pudgy domains

 

MVHQ Spotlight:

  • MVHQ has received an Honorable Mention in the Blast Big Bang Competition, an accomplishment to be proud of by staff and community members a like. With over 2M mints and 100K registered users, the MVHQ app is already home to the top projects on BLAST as we prepare for Mainnet launch. Buckle up, it's gonna be a fun ride!

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