Weekly Recap: 2/27-3/5 - MVHQ

Weekly Recap: 2/27-3/5

MVHQ Staff
Mar 6, 2023
Weekly Recap: 2/27-3/5

Monday 2/27

It was a slower day in the neighborhood with a few headlines to keep us afloat and sparse action across the marketplace to keep our degen juices flowing. Yuga doubled up on the headline items with The Dookey Dash Golden Key exchanging hands in a $1.6 million transaction and while also announcing an upcoming Bitcoin Ordinals collection. The majority of established collections were down in floor price on the day, however, Captainz continued its recent surge back above 5E, Doodles Genesis Boxes saw a 20% rise, while both BAKC and Meebits also finished the day slightly in the green.

Overall marketplace volume closed the day above $71 million with BLUR accounting for $54 million of that. ETH continues to play above the $1620 range. 



- Top Dookey Dasher, Mongraal, finally relinquished his Golden Key after accepting a 1000 wETH offer or over $1.6 million. The new owner is Adam Weitsman, a shredding and recycling entrepreneur. 

Yuga Labs announces its entry into the Bitcoin Ordinal ecosystem with an upcoming collection called TwelveFold. The 300-supply collection will be available via auction later this week. 

- Doodles announce a few updates including that Genesis Boxes will all include Rare items and that the team is preparing a community Doodlemap with more to announce in the coming weeks. 

- Parallel Alpha announces that Wave 1 play test users can now join the games Closed Alpha Discord. 


Notable Mint:

- Sinners & Saints stealth dropped a free mint that saw floors run up close to 0.04E on almost 200E in volume with floors currently sitting in the 0.025E range.


Tuesday 2/28

Dookey Dash and Toads were the words of the day as news was on the quieter side while degens milked every last second they could in the sewers playing for a new high score. As the final 24 hours set in for Yuga's most recent competition airwaves were abuzz with gamers-for-hire and constant leaderboard checking. Markets mirrored this activity with Otherdeeds (1000E) and Sewer Passes (800E) topping the volume charts alongside Emblem Vaults housing BTC Ordinals (1050E). 

Total marketplace volume saw a slight increase with $73 million on the day. Blur accounted for $55 million and Opensea for $13 million of this total volume as some of the more blatant Blur bid farming was toned down from whales. 



- Decentraland announced preparation for Metaverse Fashion Week including the likes of Tommy Hilfiger, Dolce & Gabanna, Adidas, and more. 

- Coinbase's recent open edition NFT, Base, Introduced, will feature daily evolving artwork over the course of the next week. 

- Gaming engine, Unity, released an update today supporting integration of Metamask into their games by offering an SDK to utilize tokens and smart contracts in various ways. 

- Pixel Vault dropped a teaser for a new upcoming Arcade Protocol developed by their team titled, Reboot. 

- Creature World announced it will be holding a generative open edition mint on Opensea's platform this Thursday for 24 hours. Mint price will be .029E with a limit of 100 per wallet. 


Wednesday, 3/1

It was a mostly uneventful day across the marketplace, although a smattering of headlines helped keep the attention on. Floors remained without substantial movement on the majority of established projects. Createra saw the most notable gain with a 35% bump up to 0.57E on over 1400E volume. Other small movers included Moonbirds back up to 6.88E, Weirdo Ghost Gang up to 0.38E and On1 Force back to 1.7E. 

Overall volume took a bit of a dip today as we closed just over the $63 million mark and under $70 million for the 2nd time in four days. BLUR continued to account for over 80% of marketplace transactions and ETH has found comfort again in the $1620 range. 



BAYC has officially closed the Sewers with the Toad Mode leaderboard now locked. Scores are being reviewed and official leaderboard will be unveiled on March 7th. 

MetaMask announces HyperPlay, a new game launcher that "brings MetaMask into native games," by aggregating stores like Epic Games to overlay MM into their interface. 

Parallel Alpha airdropped its $PRIME token, offering another stimmy opportunity for users, holders and stakers. 

- The CEO of Binance, CZ, announces a new AI product called Bicasso.  The platform allows users to turn "creative visions into NFTs with AI." 

PROOF Collective and Pace Gallery (Pace Verso) are teaming together to unveil the "Archive of Feelings," from artist Mika Tajima. The event is set to take place on March 15th. 

- Snoop Dogg has partnered up with Vital Toys to make a physical collectible of the D.O Double G's BAYC #6723 named Dr. Bombay.

Memeland teases a vial of a secret substance. 

- Magic Eden will be pausing development on its iOS and Android apps as the team looks to transition its focus on improving other areas of its product. 

- Overlord announced a "Genetic Update" for Creepz NFTs and will be migrating to a new contract on Thursday at 1PM EST. The migration will allow the team to upgrade and expand on the projects current ecosystem. 

- fxhash has added and ETH payment option to its marketplace. 

- Illuvium tweets that it's collectible card game is set to officially launch on March 7th. 


Thursday 3/2

News was on the slower side as many still recover from the post-Toad hangover of the past week. Despite this, the Proof Collective had a meaningful conversation with its holders and the market saw several notable mints in the form of Momoguro and Crowd from Danny Cole. Momoguro's hype seemed to match its price action delivering 3300E in volume while MAYC was the other big mover with 2200E traded. 

Overall, marketplaces saw a bump in total secondary volume coming in at $77 million on the day as Blur yet again led the way by a significant margin having traded $60 million with Opensea following behind with $11 million of its own. All of this preceded a significant market sell-off as ETH and all major crypto took a hit to close the day with falling all the way to $1550 before recovering to close at $1575 with most other coins also ending the day in the red. 



- INSRT Labs, an NFT finance protocol, announced fundraising of $2.2 million in their latest round. 

- Chimpers' latest mini-game is now live where holders can play Ocean Quest for the next week in order to earn prizes from the Chimpers ecosystem.

- Magic Eden has announced Mint Madness where they will be minting more than 12 free gaming collections across different blockchains with prizes awarded to minters along the way. 

- Proof Collective hosted a live show to break down the future of their ecosystem and give expanded clarity to holders on the how plans have changed amid expectations and deliveries. 

- Killabears announced a new gamified system offered to their holders to distribute prizes such as allowlist spots for later mints.

- Opensea announced a host of updates today including the ability to list multiple NFTs in a single transaction among them.


Notable Mints:

- Momoguro began its AL phase of minting at .22E per and minted out over the course of 8 hours. the 8888 supply had strong price action throughout the day, contributing to 3300E in secondary volume. The current floor sits at .725E with 4530 unique holders. 

- Crowda generative open edition from Creature World's Danny Cole dropped using the eponymous character as the basis. The mint is open for 24 hours and has seen roughly 12k mints thus far at a price of .029E.  Despite mint still being open, secondary has seen 65E in volume with rare singular color editions going for a premium. 


Weekend Recap 3/3-3/5

It was a steady weekend in the marketplace as Owls did their part in propping up the activity over the past day or so. The free mint has seen almost 9000E in volume with floors crossing 0.4E at one point. Momoguro: Holoselfs have also seen good action with floors holding over the 0.5E range on over 7000E volume.  Weirdo Ghost Gang saw a nice 24% increase in floor price up to 0.52E and Utopia Avatars got a much needed bump back into the 0.45E range.

Overall marketplace volume sits in a downward trend from its recent local highs as Sunday's $56 million was the first close under $60 million since our February 14th $BLUR stimmy. ETH currently sits in the $1560 range. 



Yuga Labs has opened its TwelveFold auction on BTC. 

- Doodles unveiled their Doodlemap, which provides "a lens into the universe we are building and how it all connects." 

- BAYC announces a delay of The Summoning event for one week and will now commence on March 15th. 

- The Base, Introduced NFT from Coinbase had its metadata updated to reveal a salute to Checks creator Jack Butcher. 

Moonbirds holders with a "Hoodie" trait were able to redeem their airdropped tokens for a hoodie made by Mad Happy clothing. 

Uniswap introduces a new self-custodial, mobile wallet available now as a limited early release. 

Dr. Disrespect gives praise and dives into the potential realities of web3 gaming in this tweet thread.    

- Momoguro hints at an upcoming Metaverse called MomoMetaverse. 

- Sansa, an art focused marketplace, announces that Brain Drops has been added to its platform and all collections are now available.  

- Zeneca helps to break down the new ERC-4337 protocol and the use cases for it.