Weekly Recap 3/13-3/19 - MVHQ

Weekly Recap 3/13-3/19

MVHQ Staff
Mar 21, 2023
Weekly Recap 3/13-3/19

Monday 3/13

The week kicked off relatively upbeat, which is a welcomed change from this past weekend's shenanigans. Notable headlines continued to trickle in as Meta/Instagram/Facebook pull a "see ya later" to NFT's, Pokemon looks to be aiming for its entry into Web3 and Sesame Street counts its cookies in anticipation of its first-ever digital collectible drop. Project floors across the NFT landscape remained deflated from this weekend's activity but maintained relatively net-neutral across the board to start the week. 

We saw a nice tick back up in volume as we closed the day just above the $43 million mark in overall marketplace transactions. BLUR continues to lead the way by bringing in over $31 million to Openseas $8 million. ETH continues to stay steady above $1650. 


- The Pokemon Company is looking to hire someone with "NFT Knowledge." 

Sesame Street is set to launch its first NFT's as digital collectibles on Veve. The first drop will feature Cookie Monster and will launch at a $60 price point. 

Meta has decided to sunset "digital collectibles" across its social media platforms, according to a tweet from one of its executives. 

- BLUR unveils new mobile device functionality with a newly expanded search and the ability to purchase NFTs. 

- RTFKT unleashed a series of tweets hinting at an upcoming forging event set to take place on April 12th as well as a special event set to take place in Tokyo on April 30th. 

- Memeland announces that Questing for Potatoz is now live, with Questers able to farm "1 valuable every 7 days automatically." 

- Jack Butcher airdropped a TwelveFold/Checks derivative to all 12 holders of his One Check collection. 


Tuesday 3/14

With $USDC fears seemingly in the rearview, most in the space were greeted with a day full of news. Blur and Opensea continue to innovate as they both released a set of updates to their platforms driven by the other's competition no doubt. Meanwhile Yuga Labs made twice as many headlines after sending their newly inscribed BTC Ordinal NFTs to auction winners and after famous playing card company, Bicycle, changed their pfp to a newly acquired ape.  

Secondary markets continued to show hesitancy in the wake of the past weekend's banking collapse. Even still, Sewer Passes found a way to generate a strong 1300E in volume in anticipation of The Summoning going live tomorrow. 
BTC and ETH found themselves back on their rollercoaster as they soared today with ETH closing around$ $1715.


- Blur continued rolling out new features by adding a notification bell icon showing users when their bids have been accepted or NFTs sold. 

- Opensea announced an update today offering more protection against flagged assets when accepting an offer. 

- Gabe Leydon, everyone's favorite Twitter personality, took to Twitter today to announce Limit Break's acquisition of the new minting platform, FreeNFT. FreeNFT has been used to gate allowlists for Castaways Islands, Digidaigaku, and other recent drops. 

- Yuga Labs announced the inscription process for their TwelveFold collection has concluded and that winners of the auction would receive the BTC inscriptions today. Congratulations to all the new holders! 

- Notable playing card brand, Bicycle, purchased a Bored Ape today and made it their Twitter pfp adding, "probably nothing...". 

Notable Mints:

- Bright Moments minted out their most recent round of passes, this time focusing on AI art. The dutch auction sold out at 2.2E with secondary prices falling below mint quickly. The collection currently sits a t 1.95E floor with 240E in volume traded. 


Wednesday 3/15

Another day, another Yuga headline as the NFT behemoth continues to keep its name front and center with its variety of Web3 offerings. This time, Sewer Pass holders are finally able to take the next step in the Trial for Jimmy the Monkey, although a metadata hiccup ruined a clean rollout. Doodles holders are now chasing socks (?) and RTFKT finds itself under the microscope once again because of forged physical holder frustration. The vast majority of established projects across the marketplace saw a sea of red as floors struggled to hold up. 

We ticked upwards in total daily volume for the 3rd consecutive day as we closed above $48 million, while ETH has seen a small bump down to the $1650 range. 


BAYC announced the Summoning for Sewer Pass holders is now open. Those eligible are required to burn Sewer Passes in order to unveil a new collection called HV-MTL, which consists of boxes of different rarity and begins the next phase of the Trial of Jimmy the Monkey. The collection did run into a Metadata bug that showed Passes as having a Companion trait when they did not. The problem has been fixed with Yuga honoring a price-difference refund for those affected. 

Salesforce talks about the future of its Web3 initiatives in a post from the GM of Web3. 

RTFKT received some backlash regarding the appearance and apparent quality of its most recent forged physical items. Co-Founder Zaptio tweeted in an effort to help clear the air. 

- Doodles introduces a new competition asking holders to collect 12 different Socks by a March 30th deadline for a chance to win a new pair of Golden Socks. 

- FEWOCIOUS unveiled a new FewoWorld trailer entitled Chapter 2: Humanoids. 

Notable Mint:

- Art Blocks Curated: Ceramics by artist Charlotte Dann sold out at an Exponential Dutch Auction in the 0.65E range. Current floors are sitting in the 0.38E range on 50E volume on the 287 supply collection. 


Thursday 3/16

Thursday came and brought a torrential downpour of updates, launches, and announcements from seemingly every project under the sun from Wolf Game to Veefriends and everything in between with even some LinksDAO action sprinkled in. This all came as Doodles' FUD and Arbitrum's token airdrop dominated the airwaves with VC abuzz amid price speculation discussion. Volume continued its slow return to the market as fears of financial collapse subside with the biggest profiteer being Yuga's latest addition to the family in HV-MTL with its 2000E in volume traded. 

Markets saw an increase in volume to the tune of $11 million resulting in overall marketplace volume summing up to $59 million. Blur unsurprisingly led the way covering $42 million of that while Opensea contributed $12 million. ETH also showed signs of life before breaking firmly above $1700 and retracing just a bit to close the day at $1705. 


- Digidaigaku completed its airdrop of Digi Dragon Eggs to raffle winners after the first half were given out during their infamous Super Bowl Ad. 

- LinksDAO announced their bid to purchase the Spey Bay Golf Course in Scotland has recently been accepted. 

- Jack Butcher published a Twitter Thread detailing his thought process and the future of his Opepen PFP project. 

- Arbitrum announced their intent to move forward as a DAO, coinciding with the highly anticipated airdrop of their $ARB token, which will launch next Thursday. Users can connect their wallet to see if they will receive an allocation. 

- Poopie, a co-founder of Doodles, rocked the boat yet again by declaring the Doodles project is "no longer an NFT project" and wants to shift their focus to "a leading media franchise". This has caused unease with Doodles holders in the aftermath. 

- Mocaverse dropped a teaser image of its roadmap along with announcing the project's upcoming reveal date of March 17. 

- Wolf Game posted a gif on Twitter announcing the imminent opening of the Farmers Market. 

- Chimpers launched Quest #2 for their holders today in their ongoing series, The Ancient Chronicles. 

- Veefriends announced the latest in their ongoing series, Burn Island. Users will have the opportunity to. burn Book Game NFTs in order to win 1 of 3 unminted Squiggles. 


Weekend Recap 3/17-3/19

For the 2nd consecutive week we head into Monday with news of a large bank in distress as Credit Suisse was rescued by UBS for over $2 billion in a move that may impact the broader macro environment as we head into the new week. Weekend volume was relatively unfazed as we closed just under $50 million for both Saturday and Sunday across all marketplaces. Seizon saw a notable pump up above the 0.3E range, while the action on Arbitrum remained hot with Smol Brains and other ecosystem products seeing substantial activity. ETH continues to play nicely above the $1800 range. 


Animoca Brands announces a few updates, including the implementation of NFT licenses that protect creator royalties.

Beeple hosted the Grand Opening for his very own Beeple Studios in South Caroline and revealed a video to help celebrate the event. 

- Chimpers announced a new partnership with Ghxsts creator GxngYxng, with exclusive area that is only available as a reward for Adventure 2.

- Veecon announces 59 new speakers to its upcoming event in May, featuring notable guests such as Busta Rhymes, Keith Grossman, Ariana Huffington and Jon Taffer. 

- DeGods announce the its BTC DeGods collection sold out in a single block.

- RTFKT announces its next Forge date with Nike Air Force 1's on deck, set for April 23rd.

- Zed Run announces a merch drop collaboration with Budweiser, with Budweiser Pass holders getting early access.

- DenDekaDen gives an update on its first 100 Days since mint with Part 2 to follow on Monday and Part 3 on Tuesday.