Weekly Recap 4/24-4/30 - MVHQ

Weekly Recap 4/24-4/30

MVHQ Staff
May 1, 2023
Weekly Recap 4/24-4/30

Monday 4/24

The market moved at a snail's pace as action across the NFT space slowed to a relative crawl on this low-volume start to the week. MAYC and Azuki were the only projects to eclipse the 1000E volume benchmark on the day, with most collections remaining in neutral or red across the marketplace. Doodles, CloneX, and Nakamigos all saw nominal gains, while last weekend's Meme flavored Pepe Pee Pee, saw a substantial move down back to the 0.04E range. Overall marketplace volume closed at $22 million, marking the lowest since January 25th.



Coinbase has reportedly sued the SEC, seeking regulatory guidance for the crypto industry. 

BAYC candidly teases that the HVY-MTL reveal and next stages will be delayed. 

- RTFKT has opened its latest forging event, which features the first-ever Air Force 1 collabs with Takashi Murakami. The window to forge closes on May 8th. 

- Famed artist Grant Yun returns to Nifty Gateway with a new curated drop on Thursday. 

- Our favorite internet sleuth, ZachXBT, finds that Nakamigos holders lost over $100,000 after falling for a meme coin scam. 


MVHQ Spotlight

A big congratulations to MVHQ OG and talented artist @lilmeg (@megthorpeart) after her art piece "Survival Mode" was officially made a part of @punk6529's popular Memecard collection!  An amazing accomplishment and a job well done on another beautiful piece! Cheers Meg! 

- Be sure to catch up on last week's biggest headlines with this week's Weekly Recap video hosted by @tophatcat! 

- Lastly, if you haven't already...please sign up for the MVHQ Newsletter and get all of your favorite updates and content delivered straight to your inbox. Share with friends and family wondering what you do with all your time these days!



Tuesday 4/25

While today started off nearly as uneventful as yesterday in the markets we saw signs of life after Yuga blessed us with another tweet from The Otherside. The thread gave additional details on the utility of Kodas and their many offshoots like Mara and Kodamara. We also saw 10KTF unveil their latest in digital/ physical offerings in the form of a Puma collaboration for limited edition sneakers with an associated NFT. 


Yuga was expectedly the driving force in the market today with MAYC, Otherdeeds, and Vessels equating to 1500E, a significant portion, of the total volume traded. Overall marketplace volume tallied up to a $27 million, and while that is up from Monday's lows, it's still a far cry from the volume we saw even a few two short months ago. ETH also continued its dip before a slight recovery to close at $1870. 



- The Otherside account today clarified that Environment Tier dictates how many Mara, Koda, and the like can be used with each Otherdeed NFT. This caused a run on Otherside Vessels of all types as holders moved quickly to accumulate. 

- WAGMI-san announced on Twitter today a partnership between 10KTF and Puma wherein select holders can mint an NFT that will receive a 1:1 physical copy in the form of a Puma Slipstream sneaker.

- NFTfi, a popular lending platform for NFTs, announced the launch of a loyalty program today for its users in the form of a "points" program. 

- Animoca announced a partnership with UFC Champion Rose Namajunas to launch a "Build Your Own Fighter" NFT collection. 

- Now-bankrupt platform Voyager today announced that Binance has pulled out of its agreement to purchase Voyager's distressed assets. Binance claimed the decision was due to the regulatory environment in the USA currently. 

- Moonbirds announced today the selected members for their Community Council that will meet with the Proof team to provide feedback and a channel of communication for holders. 


MVHQ Spotlight:

- MVHQ extends a big thank you to RaggaPrince for his lightning-quick response to the news dropped by The Otherside today regarding Vessels and environment tiers. Ragga's quick thinking and analysis over Voice Chat allowed many members to capitalize on the opportunity early and reap the rewards. Thanks as always Ragga! (https://twitter.com/ragggaprince)



Wednesday 4/26

It was a slow news day across the NFT landscape, with just a couple of bullet points to show for the day's headlines. However, a smattering of activity and green floors brought some life to the marketplace. Inside MVHQ, we were /bless (ed) with a new #field-report from @shaggy and a Layer 2 Discussion led by @naruto as we look to stay on top of our game to find edges wherever we can. 


Reapz revealed and after a quick initial dump, caught some steam with floors rising as high as 0.13E on over 200E in volume. Renga and Wonderpals both saw 20% jumps on the floor, while Ravendale pumped over 60% on a token tease. Overall marketplace volume closed just over $24.6 million, while ETH maintained in the $1900 range. 



- Doodles introduced a new creative product called The Stoodio, where holders can create their dream Doodle. Beta access opens on April 28th. 

- DeGods (ETH) and yOOts (Polygon) go live with non-custodial staking.  While the staking program is not new, the ability to keep a holders NFT in their own respective wallet, is. 


MVHQ Spotlight:

- A new Macro Update can be found in #fieldreports.  The Legend @Shaggy provides his latest insights and analysis on the broader macro-environment for the month of May and paints a rather bleak picture for any Bulls in the audience. 

- Our resident Layer 2 Wizard, @Naruto, hosted another AMA and discussion so members can stay ahead of the curve on L2s such as StarkNet and SuiNetwork. Recording of the event will be posted in #videocontent when available. 



Thursday 4/27

Despite the hush across the markets, projects took Thursday to make a series of announcements signaling no intent of slowing down during this bear market. Chimpers and Cool Cats both delivered interactive experiences in the form of Adventures and Journeys respectively. In the same breath, Moonbirds holders participating in the diamond nesting rewards revealed their selected artwork with some lucky enough to receive  Beeple: Everyday edition! 


While project's announcements gave a positive spin, the numbers painted a different picture. Overall marketplace volume continued receding to lows, with today's clocking in at $20 million. The light volume was attributed to a few projects each with over 100E in volume, namely Beanz (150E vol.), Moonbirds (130E vol.), and perhaps most surprisingly, Wonderpals (120E vol.). ETH managed to hold its trend in the low $1900s.



- Art-forward project Renga dropped its first Renga Report, an all-encompassing series of updates on the future of Renga including their new Youtube channel, a weekly Twitter Spaces, and a look into their planned "art-ility" experience. 

- Fan-favorite project Chimpers released their Third Adventure for Chimpers holders. This adventure offers NFTs as prizes similar to past rounds. 

- Moonbirds holders who achieved the Diamond Nest status on Day 1 have received their airdrop as of today from artists including Beeple, DirtyRobot and others. 

- A decentralized insurance protocol, Etherisc, is now offering insurance for $USDC in the chance of another "depegging" event similar to what was seen earlier this year with the Silicon Valley Bank collapse. 

- OnChainMonkey announced its newest collection releasing soon, the OCM Dimensions. Dimensions will be a "high-end gen art collection" on the bitcoin blockchain, utilizing BTC Ordinals. 

- Cool Cats launched Season 2 of Journeys, their storytelling and staking mechanism, continuing the story of rescuing Chugs. 


MVHQ Spotlight:

- The community offers a tip of the hat to @UnderwaterLlama for his write-up on recent issues with MetaMask and various Ledger devices. Llama gives tips and quick fixes to get your wallets back up and running saving member's precious time and ETH along the way. This piece can be found in the #fieldreports channel for more details. 



Weekend Recap 4/28-4/30

While activity around the marketplace was a bit sluggish, there was plenty of action around the broader crypto space. $PEPE continues its march toward generational wealth for all and a market cap that now exceeds $450 million.


Doodles have seen floors rise nearly 30% over the past week, peaking around 3.1E. Other notable projects in Pudgy Penguins (4.3E) and CloneX (2.9E) have also seen small floor pops.


ETH continues to play in the $1850 range. 



- Yuga Labs officially names ex-Epic Games Vice President, Mike Seavers, as its new Chief Technology Officer. 

Memeland introduces Raids, which allow holders to steal Maps while also risking their own. 

BLUR teases an update scheduled for May 1st. 

BAYC tweeted more HV-MTL teasers.

Kevin Rose unveiled a new 3D World for Moonbirds holders called Monaverse. 

- Jack Butcher announces the new Opepen drops will begin soon with a 48-hour opt-in window for participants. 

- Moonbirds announce a new smart contract to allow holders of their Day One Diamond Exhibition to re-shuffle duplicated traits. 

- Yuga Chief Creative Officer, @mfigge, passed along a TwelveFold tweet thread update  

- Creature World announce Chapter 2 for its Crowd collection

- Doodles announced that its beta for Doodles 2 is open inside its digital user experience platform, the Stoodio.


MVHQ Spotlight:

- Congratulations to @dankmeth for winning our latest Poker Tournament, earning a $350 USDC prize. Shoutout to @alexbars and @essajabe for placing in 2nd and 3rd, as well. Thank you to everyone who played! Keep an eye out for our next game night!

- Check out @classicmitchup#5332's Mint Talk with Open Campus (https://twitter.com/opencampus_xyz), an up-and-coming project recently listed on Binance's launchpad, as he talks about what it takes to Win in Web3.

- Dive into the world of Layer 2's as the recording of @Narutos latest discussion is now live in our Video Content channel.