Weekly Recap 2/6-2/12 - MVHQ

Weekly Recap 2/6-2/12

MVHQ Staff
Feb 13, 2023
Weekly Recap 2/6-2/12

Monday 2/6

It was a slow but steady day as talks of BTC Ordinals, a new Trial of Jimmy update and a continued Checks meta helped keep things moving in the marketplace. The majority of established collections have seen a red 24-hour period with Checks (1200E Vol, 2E FP) and Sewer Passes (1500 Vol, 2.8E FP) seeing the most notable surges on the day. 


Overall marketplace volume remained solid as we closed above the $33.5 million mark. BLUR finished tops on the leaderboard with over $15 million in transactions, while OpenSea ended the day just under the $12 million mark. ETH continues to play above the $1620 mark.



BAYC  launched a short teaser video hinting at what's to come in the Trial of Jimmy, including three events; Lick the Toad, Mech Types Revealed, and It Came Through the Rift. 

Reddit NFT launched Super Bowl-themed collectible avatars in a partnership with the NFL. 

EtherOrcs announced that the team will no longer be using its resources to develop the project and went on to outline a variety of ways the community could steer its direction into the future. 

Cool Cats announced the official start of a new series of Journeys and missions for all Fracture holders with a new chance to explore the World of Cooltopia. 

- OpenSea introduces the OpenSea Private Beta program which will allow fsers to test new products and features with the aim of bringing them to market faster. 

- Andy8052, a notable art influencer and co-Founder of Tessra, announces a new "curated marketplace for fine art editions."  The marketplace is called Escher and is still without an official launch date. 

- Lucky Trader announces a partnership with Wagmi Labs and aims to create the first "all-in-one platform for NFT trading," with the help of its daily curated news service. 

- Bitcoin Ordinals are the latest crypto phenomenon that has captured the spirit of degen traders, providing new unique utility for Bitcoin. This contributed to the first-ever gas war on Bitcoin in a rush to mint the "final 1,000 of the first 10,000 Ordinals ever made." 


Tuesday 2/7

NFT news and volume held strong today with the likes of Otherside, Pudgy Penguins and Doodles all having noteworthy announcements. Not to be outdone, platforms also had a strong showing with Opensea and Blur each having a spate of good news. Markets also saw large swathes of green led by Jack Butcher's Checks (1700E Vol, 2.45E FP) with Sewer Passes (1300E Vol, 2.45E FP) also lending a hand with their competition set to end in the next 24 hours!


Markets felt plenty of positivity with major marketplaces showing a 10% gain to finish with a combined $37 million in trading volume. Blur topped the charts by a small margin with $15 million traded volume compared to Opensea's $12 million thanks in large part to Blur's token drop looming next week. ETH also benefited and with a nice daily green candle at $1675. 



- The Otherside Twitter account released a teaser image for "Otherside: Legends of Mara", said to be a stand-alone 2D experience powered by Apecoin. No other details are known outside of the tweet and teaser image released alongside it. 

- Pudgy Penguins announced that participants of the Sotheby's Auction last year will receive a Sotheby's Soulbound Token as part of their ongoing Pudgy soul Transport initiative. 

- A gold BAYC sold this morning for the whopping sum of 800 ETH. The Ape was sold by j1mmy.eth and ranks as the third highest BAYC sale historically in ETH-terms. 

- The Doodles team posted a lengthy Discord announcement clarifying expectations for Doodles 2 Beta Passes, future blockchain utilization and the ongoing utility of Dooplicators in the future. 

- Premint announced today their support for projects native to the Polygon chain. 

- The Sandbox and the nation of Saudi Arabia announced a partnership to explore metaverse projects and activations. 

- Opensea took to Twitter to outline their intent to aggregate listings starting with ENS, Sansa, and Sound XYZ. 

- Kucoin alerted followers that trading of $BLUR will be enabled on its launch date next February 14th. 


Wednesday 2/8

The Ordinal craze continues to be the talk of the town as FOMO begins to settle in for those looking for some BTC action. Dingaling packed his Ordinal Punks bags with a 15.2 BTC sweep which kept timeline engagement hot on the topic. A KID called BEAST had a strong day with floors seeing a 30% rise to the 1.05E range and Chungos saw more steam with a massive 80% gain to the 0.25E range on 500E in volume. 


Overall marketplace volume remained steady as we closed the day right at $36.5 million, marking five straight days above the $30 million number. ETH slowed its pace slightly today but remains healthy above $1620. 



Dookey Dash season is now officially closed after the 3 week marathon gaming session concluded its Sewer Pass competition at 6PM EST. According to the team, scores are now being validated and will release updated results once their review has been completed. It wasn't without complaint, however, as examples of exploits are now circulating. Be careful not to purchase Sewer Passes off of secondary markets as all scores reset to zero upon transfer of wallet.

Brian Armstrong, the Co-Founder and CEO of Coinbase, claims that the SEC is considering the termination of staking for all retail customers.  He does state that the company is "hearing rumors" and the concerns have not yet been founded. 

Pudgy Penguins and DeGods are partnering up to co-host an event called "Midnight in Paris," on February 24th during NFT Paris. 

- @Zeneca launches ZenAcademy Student IDs as a free claim open to the public, forever.  Student IDs are Soulbound Tokens and will act as an extension into the ZenAcademy ecosystem. 

- Checks art updated once again as Creator Jack Butcher instructed holders to "check meta," for the 2nd time in a matter of days. Butcher also hinted at a possible burn mechanic going live during the Super Bowl with a "superburn sunday" tweet. 

- TopShot commemorated Lebron James breaking the NBA all-time scoring record by capturing the moment and rewarding it to its Top 25 Collector Leaderboard. The set will have a total supply of 99, as others will be distributed through packs and other events. 


Thursday 2/9

Ordinal meta took full effect as the narrative finally gripped the ETH market as derivative after derivative flooded the scene. Amidst the 16th Ordinal mint of the day Kraken released unfortunate news surrounding their staking platform and Yuga Labs delayed the timeline for The Summoning and following events. OnChainMonkey (600E vol., 2E FP) and Checks (600E vol., 1.8E FP) both stood out among the competition on the charts. 


After an explosive Wednesday, markets cooled off a bit while still maintaining strong volume at $37 million across all major marketplaces. Blur comfortably led the pack trading $19 million with Opensea lagging behind with $12 million volume of their own. ETH took a tumble beneath $1600 and closed the day around $1545, nearly $100 lower than where it began the day. 



- In a move that surprised many, popular cryptocurrency exchange, Kraken, will be shutting down crypto-staking moving forward in order to comply with settlements with the SEC. 

- Gordon Goner, co-founder of Yuga Labs and BAYC penned an open letter today discussing and refuting the now-tired conspiracy theories leveled against Yuga in an attempt to better his ongoing health issues. 

- Web3 music platform, Vault, announced a raise of $4 million in its Seed Round A funding round. 

- OnChainMonkeys announced it will be giving all holders a BTC Ordinal NFT equivalent of their OCM NFT, taking advantage of the hype and meta developing around BTC NFTs. 

- Wolf Game released a series of quality of life updates today as well as updating the Woolpaper to reflect new gameplay changes.

- NBA TopShot is testing out a new mobile app to support their NFT platform and marketplace through the Testflight App for users who were successfully chosen. 

- Yuga Labs pushed back the timeline for The Summoning as well as dishing out some details on the upcoming stages for their minting experience. 


Weekend Recap 2/10-2/12

All eyes were on the Super Bowl this weekend as DigiDaigaku unveiled its long-awaited QR scan, free mint. While the mint itself went off without a hitch, there was much debate after the fact about how accessible the event really was for onboarding new NFT users.  Even so, it proved to be a fun and engaging occasion that kept NFTs in the spotlight.


A big congrats to all in MVHQ that cooked - over 80 people in VC for a good ol' "Going Dark" session. Love to see all the W's. 


Overall marketplace volume saw a decline, averaging around $24 million for Saturday and Sunday in what was a mostly quiet weekend. ETH remains in the $1520 range. 



DigiDaigaku premiered its much anticipated Super Bowl commercial, making history in the process. A QR code appeared on screen that directed participants to a mint site, or to Gabe Leydon's Twitter account once the event was over. Dragon Eggs spiked above 0.6E shortly after the commercial aired, but currently sits at 0.36E on over 1200E in volume. 

- Cool Cats introduced Chapter 1 of its new Journeys adventure, entitled "Help Save Blue."  Fractures holders are asked to sign up for Journey #1 by 2/13 at 5PM EST. 

Super Burn Sunday kicked off for all Checks holders as the collections burn window opened according to a tweet from Founder Jack Butcher. Floors have fallen under 1E since the open of the window.  

Otherside posts a detailed look into the design process for its world environments.

- Opensea launches new features to its platform including bulk listing and the ability to  substitute items for ERC-1155 purchases. 

- VVD tweets that there will be no burn for the Pepe Checks collection which boasts over 230,000 NFTs in an Open Edition mint last week. 

- Creature World announces its first Fashion Show set to debut on 2/14 at 8PM EST. 

- CyberKongz tease a short video