Weekly Recap 4/3-4/9 - MVHQ

Weekly Recap 4/3-4/9

MVHQ Staff
Apr 10, 2023
Weekly Recap 4/3-4/9

Monday 4/3

It was an interesting start to the week as we once again were met with more very notable Yuga updates, Elon trolled everyone...twice, and Crypto Influencer Cobie tweeted a coded message that had everyone shook. However, through it all, Nakamigos continued their torrid pace with another 3900E in 24hr volume and the help of a shill nudge from Beeple, causing floors to nearly reach 1E.


Overall marketplace volume closed at $48 million, down slightly from yesterday's local high. BLUR continues to lead the way in daily volume, accounting for over $31 million in transactions, and OpenSea bringing in just over $12 million. ETH saw a quick wick down into the $1760 range after the CZ FUD circulated and rebounded nicely back above $1800. 



The Othersideand Gucci have joined for a Koda-themed partnership called Otherside Relics.  The project aims to pay homage to the beginnings of The Otherside and will come to life in both digital and physical form. First, as a metadata update for Kodas or upcoming Vessel NFT holders, then also as a physical necklace.  The sale is set to go live on Thursday, April 6th for 450 $APE. 

The Otherside also announced its official Koda decoupling in addition to an upcoming Vessel claim. Vessel claims are open for all Voyagers and is not limited strictly to Koda holders. Otherdeed holders will be eligible to burn their NFTs in order to unlock the next set of games and experiences called Otherdeed Expanded. All details can be found in the latest Yuga blog.

- Beeple seems to have a soft spot for Nakamigos after announcing that he will make a 2nd Nakamigos-themed art piece if the project's floor gets to 1E. The collection soared as high as 0.9E but has yet to cross the Beeple threshold. 

- Elon Musk started the day by integrating the Doge logo across Twitter and ended it by randomly tweeting an image of Punk6529's MemeCard Season 1 collection. There was no other message or update attached to either move. $DOGE prices saw a nice spike in reaction, up almost 30% on the day with Meme Cards SeizeJPGs edition seeing a sale as high as 8E.  

- Crypto Influencer and UpOnly Podcast host, Cobie, tweeted a hash that revealed a message that de-coded to read "Interpol Red Notice for CZ."  Using the Online Hash Function SHA256, users are able to make a time-stamped statements, sometimes based off of rumors or predictions, that can be revealed at a later time. Cobie says that the seed to the message was leaked and thus revealed prematurely. The entire situation prompted a series of tweets from CZ himself denouncing the rumors. 



Tuesday 4/4

News was on the quieter side today of Web3 today outside of the major headline of Gem rebranding to Opensea Pro. Opensea Pro looks to offer pro traders a more analytics-based experience similar to Blur's current offerings. Additionally, the platform launched an NFT, called Gemesis (1600E), to wallets that interacted with Gem before a certain date. Otherwise the most notable collection that to see any movement was Otherdeeds (1800E) in preparation for the Vessel claim speculated to take place tomorrow. 


Total marketplace volume tallied $51 million on the day, which is still a considerable uptick from last week's numbers. This positivity was also reflected in most crypto's price as ETH and BTC rallied to recent highs, especially with ETH reaching $1910 as it did. 



- Veefriends announced Eruption 4, in their ongoing series of burn events for their ecosystem of NFTs. The main prizes of this burn are rare Wolf Game assets, including Alpha 6 and 7 wolves. 

- Papa John's is looking to enter NFTs by offering pizza-themed NFTs on the Polygon blockchain in association with OneRare. 

- The official Metamask account tweeted today that they will soon be adding an NFT tab to their browser extension in an upcoming update. 

- NFT aggregator Gem announced a rebrand to Opensea Pro. This new platform looks to cater to pro users with more analytics and charting tools similar to what Blur offers. 


Notable Mints:

- Gemesis minted on Opensea's launchpad today as part of the official launch of Opensea Pro. Around 55,000 of the potential 180,000 free NFTs were minted today and hit as high a floor as .08E before settling around .055E after trading 1600E in volume. <https://blur.io/collection/gemesis> 



Wednesday 4/5

It was largely a sea of red across NFT project floors as volume took a bit of a nosedive across the marketplace. A slower Wednesday and lack of major headline news kept things relatively quiet for the majority of the day. Nakamigos continue to hold a steady 0.45E floor on another 1200E in volume. Yuga, of course, found its way into the news with the opening of its Koda decoupling and Vessel claim, while notable Web2 brands such as Bugatti and Fortune Magazine enter the fray with new projects of their own. 


Overall marketplace volume checked in at a four-day low of $40 million with BLUR once again leading the way. A look around notable token prices shows ETH still rolling strong, with a wick up to $1940, while $BLUR continues to hold in the $0.57 range and $ARB steady at $1.22, respectively. 



The Otherside announced the opening of its Koda Decoupling and Vessel claim. Koda holders can now decouple their furry friends from their Otherdeed NFT and all Otherdeed holders are eligible to claim a Vessel. 

-Bugatti and Asprey Studio announce a limited collection of phygital eggs that aims to "blend the timeless artistry of the Bugatti family with Asprey heritage and craftsmanship." 

- Fortune magazine announces its 2nd NFT drop and will feature generative artist Itcel Yard on the cover. The sale will take place on Foundation and will launch at a 0.1E mint price. 

- Magic Eden introduces Trait-Based Collection Offers. 



Thursday 4/6

We saw a flurry of notable headlines hit the marketplace as Web2 brands continue to enter the marketplace.  This time, Ralph Lauren makes its Web3 debut in partnership with Poolsuite. LooksRare and Magic Eden both provide product updates as marketplace wars carry on. 


Total marketplace volume closed over $36.6 million.  After a wick down to the $1850 range, ETH closed above $1870. 



Ralph Lauren has partnered with Poolsuite and aims to provide holders with upcoming event access and future promise of NFTs.  Ralph Lauren will also begin accepting crypo as payment at its Miami store. 

- Nike provides an update to its .SWOOSH platform and Our Force 1 Collection in a new blog post. 

- LooksRare V2 has officially launched and includes upgraded features such as lower gas + protocol fees, one-signature bulk listing, ETH rather than wETH for sellers and more. 

- Magic Eden has launched its ETH marketplace Beta.  

PROOF Curated announces an NFT exhibition called "evolving Pixels" that will feature 10 generative and AI artists. The event is set to take place on April 12th.



Weekend Recap 4/7-4/9

Happy Easter weekend to all those celebrating. It was a fun egg hunt around the marketplace as a variety of notable projects saw positive traction in an otherwise low volume environment. Nakamigos continue to surge with floors staying strong in the 0.8E range on over 11,000E in weekly transactions. The Memeland ecosystem continues to climb, Miladys never say die, and Pixelmon sees some more life.  Also a big shout out to MVHQ legend @Sa1nt for his huge 160E Azuki sale!


Overall marketplace volume was slow, as the weekend closed with Saturday bringing in over $35 million and Sunday over $30 million in transactions. ETH continues to play above $1850. 



- Popular DEX SushiSwap was hit with an exploit that may have impacted those that used the site within the past week. Sushi has secured a "large portion of affected funds," and urges those that attempted recovery to contact them. 

- Memeland has announced new plans to set up 69 validators for the upcoming Shanghai upgrade on April 12th. 

- Moonbirds announced an new Diamond Exhibition drop that will feature 10k works of art from 22 artists. 

- The Otherside confirms its airdrop of the Winged Helmet airdrop to all players on Team Glacia from its 2nd Trip event. 

- Opensea announced a series of updates aimed at making your trading experience more efficient. 

- Magic Eden announced a new Bitcoin Launchpad that allows the launch of Ordinals projects directly from their platform.