Weekly Recap 3/27-4/2 - MVHQ

Weekly Recap 3/27-4/2

MVHQ Staff
Apr 3, 2023
Weekly Recap 3/27-4/2

Monday 3/27

Just another Monday for Yuga Labs as their headline dominance is in peak form with yet another major announcement. This time, unveiling its newest adventure with the Legends of the Mara while also detailing plans for a Koda decoupling event. Otherdeeds ran up a healthy 25% and floors into the 1.7E range. Binance finds itself in some hot water as regulatory concerns are highlighted in a lawsuit and Nakamigos continued to see strength with floors touching above 0.2E on almost 1300E in volume. 


We opened the week just under the $40 million mark as most of the NFT marketplace remained slow. BLUR saw over $26.6 million in transaction with its $BLUR token dipping under $0.50 for parts of the day. $ARB closed down 8% to $1.15 and ETH also saw a small tumble down to the $1720 range. 



The Otherside unveiled its next adventure with Legends of the Mara, a new game for Otherdeed holders and fueled by ApeCoin. The 2D-strategy game picks up where 2nd Trip left off and exclaims that "starting in May, we prepare to defend Otherside." All Otherdeed holders are eligible to claim a free Vessel, with the much-anticipated decoupling of Kodas coming soon thereafter. 

- Gucci and Yuga Labs reportedly enter into a partnership and confirmed as much with a few bread crumb tweets.

- Binance has been sued by the US Commodity Futures Trading Commission (CFTC) and is accused of trading and derivatives rules violations. Binance CEO CZ responded to the allegations in a message via Twitter. 

- Sothebys has paused its most recent auction and will re-assess the lack of representation of diversity across artists. The team will work closely with its community to determine its next steps. 

- Avenged Sevenfold and Ticketmaster have partnered up for NFT-gated ticket sales marking yet another web3 accomplishment for one of the worlds biggest rock bands.  The band has previously founded the Deathbats Club, bringing utility to its fans across the world. 

Tuesday 3/28

Yuga's tight grip on the market continued as volume continued to slowly trickle out of the market save for their cadre of NFT projects. As degens and Web3 enthusiasts alike shifted their focus to alternative blockchains, airdrops and even DraftKings offerings, traditional NFT trading declined further. Otherdeeds bucked this trend with their impressive 3200E in volume traded as holders prepare for their upcoming Legends of the Mara activation. 


Despite the strong showing from Otherdeeds overall NFT marketplace volume totaled $38 million with a $25 million majority coming from Blur's stables and $10 million attributed to Opensea. Markets saw a bit of a recovery today after yesterday's move downward with ETH recovering to nearly test $1800 before settling at $1790.  



- Amid rumors spread by influencers and clout-chasers, MetaMask officially spoke out denying the hearsay surrounding a potential snapshot and airdrop regarding a native MetaMask token. 

- SuperRare announced the next artist for their Rarepass holder drop being Sarah Zucker.

- It was announced today that atop the litany of charges being faced already, Sam Bankman-Fried of FTX will also be charged with Bribery of a Chinese government official. 

- Today Disney reportedly laid off its entire Metaverse division amid ongoing layoffs planned for the company.

- Blur took to Twitter to announce an extension of their 2X listing and bidding rewards. This is due to them not having finished a feature they hoped to push live in April, thus causing a setback in timelines.

- y00ts began their long-awaited transition from Solana to Polygon this morning. Over 60% of the collection has been migrated with a floor price hovering around 2 ETH. 



Wednesday 3/29

Shocker. Yuga finds a way to lead the headlines once again, this time unveiling some first looks at its HV-MTL collection and providing an updated timeline. Nakamigos continued their strong run with another 2000E in volume and floors pamping into the 0.35E range. The Butcher ecosystem saw a nice bump with Opepen pushing up 48% and floors back above 0.4E while, Checks climbed 13% above 0.8E. Captainz and Potatoz also saw small moves towards the green on the day. 


Overall marketplace volume checked in just under $43 million, up slightly from yesterday. ETH has been playing in the $1800 range for most of the day. 



- BAYC unveils a first look at the HV-MTL collection and a timeline update that includes the Evo 1  Reveal in April and Evo 2 starting in May.  HV-MTL will showcase 8 different mechs with dynamic traits that will evolve based on decisions made in the upcoming FORGE game.  

Beeple announces an upcoming event with Cozomo in London on April 8th. 

-Magic Eden announces the launch of its new ETH Marketplace BETA. 

- PROOF announces a new Curated project called Evolving Pixels which will bring work from five generative artists and five AI artists together in one collection. 

- Doodles tweet a link for its upcoming Genesis Box reveal set to take place on March 31st.  

- Art Blocks officially announces the launch of its own Secondary Marketplace and aims to protect the enforcement of creator royalties. 

- Popular AI artist Pindar Van Arman unveils upcoming plans for the rest of this year, stopping short of calling it a roadmap but rather stating them as general plans and details for his projects. 



Thursday 3/30

Web3 took a collective breath today from the onslaught of Yuga news we received so far this week. In their stead, we saw slightly smaller updates from many disparate projects. Pudgy Penguins began their ramp-up to NFT NYC by opening registration for their event, while Digidaigaku Dragons have finally revealed after their Super Bowl debut. Ledger also is said to have received a cash injection in the form of a raise to the tune of $109 million. NFT volume took a bit of a dive after yesterday's climb, with Otherdeeds (1200E) and HV-MTL (800E) clearly still acting as the belles of the proverbial ball.

Total NFT marketplace volume came in similar to Tuesday's figures at $38 million with unsurprisingly a majority of that belonging to Blur, $22 million to be exact. Opensea raked in half as much with $11 million thanks to their own tried and true marketplace. Many markets saw a bit of positive movement throughout the day with ETH rising above $1820 before settling back to $1805.



- Registration is currently live for the Pudgy Penguins NFT NYC event. 

- Gary Vee announced the latest round of gifts hitting Gift Goat holders' doorsteps today with an Anthros Gaming chair along with an NFT featuring gamer, Bugha. 

- DraftKings Reignmakers announced a new pack drop for its newly popular PGA series as they approach The Masters Tournament next weekend. 

- Digidaigaku's infamous Dragon Eggs that launched via a Super Bowl commercial are able to be revealed now in a manual process available through the Digidaigaku questing site. 

- Ledger, the company behind one of the most popular crypto hardware wallets, has neared completion of a fund-raising round of $109 million, at a staggering valuation of $1.4 billion. 

- Doodles posted an announcement today with the notion of changing how the Doodlebank uses its fund as the project seeks to shift focus to community-facing proposals and rewarding their holders. 



Weekend Recap 3/31-4/2

There were plenty of notable headlines from established projects and enough action in the marketplace to keep the weekend interesting. Yuga welcomes its new CEO, DeGods open ETH migration and a pair of collections celebrate anniversaries. Nakamigos continued its recent surge bringing in over 10k ETH in volume over the past week, with floors climbing towards 0.7E over the weekend. The Memeland ecosystem continues to thrive, with both Captainz and Potatoz seeing 10%+ spikes, and DenDekeDen opened the starting phases of its recent mint. 


Volume remained steady, with Saturday ($40 million) and Sunday ($57 million) outpacing closing numbers we saw heading into the weekend. The broader crypto market was a little slower, but ETH remains strong near the $1800 range. Looking around other notable tokens, $BLUR currently sits at $0.61 and $ARB at $1.21.


A big congrats to the new MVHQ MVP @Kurupshun! A much-deserved nod to one of our longest-tenured members. A big thank you to all nominees this month. We appreciate everything you do. Let's keep it rolling into April!



- Former President and COO of Activision Blizzard, Daniel Alegre, has officially started as the new CEO of Yuga Labs. The official announcement came from Alegre's personal Twitter account.

- Yuga Labs awarded participants of its Otherside 2nd Trip with a metadata refresh, and Winged Helmets are going to Team Glacia next week as event winners. 

DeGods have officially opened up migration onto Ethereum for its holders. The collection has seen over 2200E in volume, with floors currently sitting above 8E.  

Azuki announces Bobu the Bean Farmer as its newest Community Team hire at Chiru Labs. The team will utilize AI technology to bring Bobus wisdom to life.

Pudgy Penguins celebrate one year since Luca Netz purchased the company. 

BEANZ, the companion collection from Azuki, also celebrated its one-year anniversary.

10KTF teases Season 2 and has added Renga as an approved parent collection. 

- Doodles Genesis Boxes were finally revealed after a wait of over 8 months. Each box contains two wearables and/or Doodles 2 early access beta passes. All wearables are tradable on the Gaia Marketplace.