Weekly Recap 5/1-5/7 - MVHQ

Weekly Recap 5/1-5/7

MVHQ Staff
May 9, 2023
Weekly Recap 5/1-5/7

Monday 5/1

A major BLUR announcement helped inject the marketplace with some additional activity and liquidity today.  The platform introduces a new P2P lending protocol that is sure to shake up marketplace dynamics once again.  We closed today's session just over $29 million in overall volume, the highest number we've seen since April 22nd. ETH took a slight dip down to the $1820 range while $PEPE continued to make strides with its Market Cap now above $550 million. 



- BLUR introduces BLEND, a new p2p perpetual lending protocol aimed at higher-yield opportunities and creating more liquidity for NFTs.  The platform features a Buy Now, Pay Later option for NFT transactions and is now live for Azukis, CryptoPunks and Miladys, with more to come. 

- OpenSea Pro announces ERC 1155 Updates, as users are now able to see more optimized activity feeds and view the quantity of 1155's listed on collection pages. 

- Phantom introduces a new multichain wallet with support for Ethereum, Solana and Polygon. 

- Sotheby's launches a new marketplace 

- RTFKT announces that SZN 1 apparel has started shipping 


MVHQ Spotlight

- A big shoutout to longtime MVHQ member @Sosa for his massive Pepe W, turning 0.68E into nearly $100,000. Much deserved man, know you have been grinding. Make sure to take some for yourself! Check out the full post over in #success! Congratulations Big Dawg!

- The Legend @RyanH hosted an alpha filled Shitcoin discussion with guests @jinzo, @theboggartt and @poppa. They touched on trading strategy and tips to help keep you in the game during the szn.  Over 50 people attended the session in Office Hours VC! Thank you to all participants! 

Coinbase goes to war with the SEC, Nike Collabs with Murakami, & BAYC teases new art! Make sure you check out the latest Weekly Recap video hosted by @tophatcat. https://twitter.com/Metaverse_HQ/status/1653195635804307456 

- Every week @silvaserger rounds up the most notable headlines and delivers them straight to your inbox, in the MVHQ Weekly Newsletter. If you haven't already, be sure to sign up here: https://www.mvhq.io/#newsletter 



Tuesday 5/2

Gas sat over a wallet-crushing 100 gwei for a majority of the day as shitcoin meta continues to dominate the attention and airwaves of Web3. Whether it's $PEPE's continued resilience or the launch of dozens of other coins like $HARAMBE and $PEPE2.0, traders had little to focus on in the world of NFTs. Despite this, Yuga followed up with its typical cadence of Tuesday news and Pudgy Penguins.


Overall marketplace volume came in at $29 million, continuing its bounce off of last week's lows thanks in large part to 2700E of volume traded in Azukis alone. ETH and several major crypto tokens also bounced today as more dismaying news rolls in about potential bank failures as some seek safe haven from another collapse. 



- Sports Illustrated announced a new NFT ticket solution powered by Polygon called Box Office. 

- Popular horse-racing NFT platform, Zed Run, has released a new arcade version aimed at a more casual userbase who doesn't need a wallet or Zed Run account to play. 

- In typical fashion, GoblinTown announced its next mint, a 15k collection known for now as GoblinTown Season 2. 

- Following the past few weeks, Yuga Labs released another trickle of details on Otherdeeds, this time touching on the importance of Sediment Tiers in the upcoming Legends of the Mara activation. 

- Pudgy Penguins teased the next step in their ongoing journey with The Pudgy Workbench with more updates promised soon. 


MVHQ Spotlight

- Congratulations to Metaverse HQ's April MVP, Naruto! Naruto is an MVHQ OG who's always around to lend a hand in all things Layer 2, airdrops, and even Rollbit alpha. For his well-deserved victory, Naruto takes home 2.25E, a custom MVHQ Magazine cover, and the illustrious role of MVP as prizes. 

- MVHQ's resident Yuga expert Raggaprince is back, this time spitting more hot fire about possible connections between Renga and The Otherside in his most recent Field Report. 

- Shoutout to uArtApe and their strong start to the month of May by focusing on tool-based NFTs. While degens are searching for the next big shitcoin uArtApe is thinking two steps ahead! 



Wednesday May 5th

High gas kept action in the NFT marketplace relatively slow even as activity continued its pace across the broader shitcoin landscape.   It was a sea of red across most notable project floors as we closed the day under $20 million in total marketplace volume. After yesterday's local lows, $PEPE stood its ground and maintains a Market Cap over $550 million while ETH continues to range in the $1850s.



- NBA Superstar Lebron James was seen wearing custom CloneX Air Force 1s prior to Monday's game. 

- Doodles is hiring! The team is looking for two community oversight positions 

- Former Opensea Executive, Nate Chastain, has been found guilty of NFT Fraud and money laundering and faces up to 60 years in prison. 

- Yuga Labs CEO, Daniel Alegre, had his Twitter account hacked. The team was quick to alert the community. 

- NBA Top Shot drops new packs for app users. Quick Rip packs will have a 25k supply and cost $2.99 while the Rare Rip packs will offer a 2k supply for $19.99 

- Meebits celebrate their 2nd birthday by introducing Meebits Moods, giving way to "a new pay to bring your PFP to life." 


MVHQ Spotlight

- Live in Voice Chat, an organized discussion on the Memeland ecosystem took place, featuring insights from @silvaserger, @wafdawg, @swishi, @#captainbrad and @eqpapi. The crew took a deep dive into all the layers of each collection and how best to gameplan for strategy moving forward. Recording will be live in the Video Content channel when available. 

-Another big shoutout to @Raggaprince for compiling his past analyses and findings into a very fitting Yuga Bible, a one-stop shop for all of the best research into The Otherside, HV-MTL, and all other activations Yuga has ongoing. Ragga's research compendium can be found in our Field Reports channel. 



Thursday 5/4

The shitcoin meta continued trudging onward with $PEPE shattering through its previous all-time highs to set new records today even approaching $1 billion, to the joy of many community members in MVHQ. Unfortunately as a result, gas was almost 150 gwei or higher the entire day giving way to rather long dry spells of NFT trading not to mention any new projects brave enough to try to mint. Overall marketplace volume totaled just $19 million, solidifying a week-long downtrend that sees us returning to the trading volume lows of last week below $20 million. On the bright side, ETH rose all the way to $1900 despite the financial crises building for banks. 



- Digital collectible maker Cryptoys announced a partnership with Star Wars today where they are set to launch 15 different collectibles on the Flow blockchain come May 24th. 

- RTFKT Cryptokicks NFT holders will begin selecting their US shipping address starting May 15th through the 29th. 

- Bitcoin transaction fees have recently skyrocketed to 2-year highs on the back of BTC Ordinal and BRC-20 mints clogging up the network. 

- After some catching up, Sushiswap launched V3 liquidity pools for their decentralized protocols across 13 different chains including Ethereum, Arbitrum, Polygon, and more. 

- Gabe Leydon returned to Twitter after a brief hiatus to announce his team at Limit Break will be implementing a new ERC standard called, ERC-721C, for "Creators". 


MVHQ Spotlight

- Today's spotlight focuses on shitcoins with @18pages_FRONTANDBACK came with the $FORCE alpha on the eponymous May the 4th, playing straight into the Star Wars memes. Members who were early to this trade saw great returns thanks to such an early shout! 

- $PEPE broke through to new all time highs and flirted with reaching a $1 billion market cap, MVHQ congratulates all those who have held with a special shoutout to Bando and OhCharlie for their massive wins. Congrats guys! 



Weekend Recap 5/5-5/7

Memecoins continue to be the theme as high octane gas prices put a damper in this weekend NFT activities. MongsNFT have seen a 20% rise in floor prices, up to the 0.4E range, keeping pace with its $MONG token. Checks VV also saw a nice 25% move back to the 0.4E range, while Pudgy Penguins saw a small 6% bump back above 4.3E. 


The slower pace of the NFT marketplace was evident in our overall volume totals, as we closed just over $32 million in total weekend volume.  Saturday's $14 million close was our lowest in over three months. ETH continues to play above $1850 while some of the air from the recent Memecoin meta seems to be fading as we head into the start of the week. 



Pudgy Penguins announce that they have signed with WME Agency to represent the project. 

- The Indigo Herz x ADIDAS merch collection went live Friday morning with clothing items ranging in price from $40-$160. 

BLUR teases a new collection that is coming to its BLEND platform tomorrow 

$Meme Coin, from Memeland, teased details to its upcoming token  

- Frank Degods disclosed future plans for y00ts in an AMA and was summarized in this thread from @waleswoosh 

- NFT Worlds has rebranded to Topia 


MVHQ Spotlight

- We celebrate one year of MVHQ Magazine as Issue #12 went live on Friday.  This month we dive into a crash course in shitcoins, Starbucks' entrance into Web3, $PEPE, touching some grass, and a wonderful interview with our very own @scottco. Big shoutout to the entire team for making it happen every month! https://twitter.com/Metaverse_HQ/status/1654644864053661699

- Congratulations to OG member, Magpow, for flipping 0.1E into 181E in a matter of minutes after devs for the $ART token made a mistake on the LP contract. What a massive W!