Weekly Recap 5/15-5/21 - MVHQ

Weekly Recap 5/15-5/21

MVHQ Staff
May 22, 2023
Weekly Recap 5/15-5/21

Monday 5/15

A handful of notable headlines and a big Ape sale helped keep things up and up.  In a relative marketplace pulse check, Gold Fur BAYC #4980 sold for nearly $1 million (530E), once again proving that it's a Whales game no matter what the market conditions are. There was also a steady stream of green floors as Captainz saw a nice 11% rise, HV-MTL also popped for an 11% gain on a reveal announcement and the Butcher ecosystem saw upwards of a 30% move after Christie's Auctionhouse and collection news.   We closed the day just above $20 million in overall marketplace transactions, with ETH still hanging on above the $1800 mark. 



- Jack Butcher announces a new collection called "Checks Elements," representing elemental themes expressed as Earth, Fire, Water and Air. The 152-supply collection is set to be auctioned via Christie's Auctionhouse and will open tomorrow at 10 AM EST until May 23rd. Proceeds will go on to support St. Jude Childrens Research Hospital.  

- Bored Ape Yacht Club teases that the reveal of its HV-MTL collection will go live later this week. 

- BLUR unveils Bored Ape Yacht Club and Mutant Ape Yacht Club as the next two collections on its new BLEND lending platform. 

- Gutter Cat Gang teases a new collab with LaMelo Ball and Puma Basketball in a rather ambiguous tweet. 


MVHQ Spotlight:

- All Things Yuga, an Office Hours event hosted by @6Mil, @Raggaprince, and @Jinzo, took a deep, informative dive into the Yuga Labs ecosystem. The crew discussed how we can best prepare for Legends of Mara, cross-pollination between 10KTF & HV-MTL, and the direction of Yuga as we move forward. Recording of the session can be found in #videocontent when available. 

- On Thursday, we will welcome a very special guest, Jack Butcher, to Numbers Therapy.  Aslo will dive into the hype of Christie's Auctionhouse, Butcher's penchant for ecosystem building, and the overall success of his NFT projects. Make sure to tune in on Thursday in Office Hours VC!



Tuesday 5/16

Although volume remains lower than many in Web3 may like to see, it still proved to be an active day overall for NFTs and crypto. Ledger began the fun this morning by causing a wave of panic with their new Recover feature before quickly trying to dispel that supposed rumor. Yuga Labs joined in on the fun with the surprise reveal of their HV-MTL collection. Of course, shitcoins still had some activity but seem to be truly winding down their turn in this market cycle. 


Volume was still relatively low coming in at $21 million across major marketplaces buoyed mainly by Milady Maker and Memeland Captainz each contributing about 600E in volume. ETH closed the day around the $1820 mark, staying in its range of the past few days. 



- After delays and many weeks of waiting, Yuga Labs' HV-MTL NFTs finally revealed today. Volume came in lower than expected for the reveal of a Yuga project, no doubt due to the sheer mountain of traits at play for the collection and the mystery of when they might next be usable. 

- Beeple and VeeFriends teamed up to airdrop an NFT to select Beeple NFT holders as well as VeeFriends Gift Goat holders. The NFT is of Beeple's iconic Everyday series from May of 2022. 

- Popular hardware wallet manufacturer, Ledger, announced a new feature called Recover. This feature drew heavy criticism from many as the public believed it included a so-called "backdoor" to devices. 

- Invisible Friends announced a series of physical figures that will be available via NFT minting. Figures will come in two different sizes with different pricing options for holders and the public. 

- The ApeCoin DAO has once again opened applications is once again seeking new applicants to join its Special Council to oversee future operations and proposals. 

- LooksRare announced a new Raffle system today where users can pay a small amount to enter for a chance at valuable NFTs and $LOOKS tokens as rewards. 


MVHQ Spotlight:

- Make sure to tune in for tomorrow's highly anticipated Office Hours with community member BTCAlchemist on all things Bitcoin Ordinals and BRC-20 tokens! Hot on the heels of his wildly impressive and in-depth Field Report, BTCAlchemist is ready to dive into the hottest sector of Web3 and catch everyone up to speed! Join us Wednesday, 6 PM EST in Discord to hear more about the wide world of Bitcoin!



Wednesday 5/17

Various floors touched green across the NFT landscape today as a few notable headlines helped nudge along positive momentum. A major VC firm announces a new funding raise for Web3 initiatives, Axie Infinity breaks through the Apple App Store barrier and ADIDAS surprised its holders with an airdrop.  HV-MTL saw a nice 17% spike back above 1E, and ON1 Force rose nearly 50% without any major headline. 


Overall marketplace volume closed near $24 million, up for the second day in a row, while ETH continues to hover above $1800. 



- Red Beard Ventures, a Web3 VC firm, closed a $25 million funding round led by notable investors such as a16z and Animoca Brands, according to a tweet from CoinDesk. The round is aimed at "accelerating the adoption of Web3 technologies." 

- Axie Infinity: Origins is now available on the app store for several Asian and Latin American countries. The popular P2E game of Bull markets past marks what is being claimed as the "first time that Apple has agreed to make an externally-purchased NFT usable on the App Store. 

- ALTS by adidas holders were surprised with a Rift Valley Motel Coin NFT airdrop today. The NFTs will play a crucial role in the u upcoming Chapter 2, and will provide holders access to the next step for PFP customizations. 

- BLUR made a new feature announcement with a new "All Loans" tab for a more streamlined flow. Partial repayments for loans will be coming soon. 

- OpenSea Pro introduces improved collection page analytics for a more detailed view of sales and market activity.

- The ApeCoin Foundation has opened up applications for its Special Council. 

- The Otherside provides a detailed break down of strategic elements of Legends of the Mara. 


MVHQ Spotlight:

Ordinals Onboarding, a BTC Ordinals-focused Office Hours led by @BTCAlchemist, helped introduce MVHQ members to all of the recent Bitcoin action. The highly informative session provided mostly-surface level insights and instructions to help listeners get up to speed as volume continues to pour into the latest inscription phenomenon. 

- Be sure to browse, engage or lurk in our Focused Discussion forums to ensure you catch every cook. Our #shitcoins, #ordinals and #memeland threads have been consistently popping off with activity. Get in on all the action!



Thursday 5/18

While ETH NFTs continued their slide downward, BTC Ordinals and BRC-20s are cruising right along with seemingly more traction gained each day as evidenced by MVHQ's own #Ordinals ever-growing thread. On the ETH side of the tracks though, Pudgy Penguins launched their Pudgy Toy line with collectible figures and plushies displayed prominently on Amazon. 


Only 5 ETH projects were able to trade over 100E in volume with Pudgy Penguins and Miladys topping the charts. Overall, major marketplaces transacted just $17 million in volume as BTC draws more attention each day. ETH closed the day slightly over $1800 after dipping below earlier. 



- Luca Netz and the Pudgy Penguins team took to Twitter to announce the release of Pudgy Toys and Pudgy World. Toys can now be purchased on Amazon and are expected to come to more stores soon. 

- Nike's newest Web3 initiative, .SWOOSH, had to delay access to their anticipated public sale due to demand and web traffic spikes on the platform. 

- Continuing Season 2 of their interactive Journeys experience, Shadow Wolves first Journey is now available for entry. This is a different Journey than the previous ones available only for Cool Cats. 

- Chimpers Adventure 3 is now complete with their sought-after rewards set to be distributed in the coming days. 


MVHQ Spotlight:

- MVHQ enjoyed another star-studded Number's Therapy as Aslo welcomed the man behind VV, Checks, and Opepen, Jack Butcher and his team into the server. Jack Butcher dug into his background and philosophy as an artist as well as his thoughts on the NFT space and what might be coming next. Recording of the session can be found in #videocontent when available. 

- Shout out to the legend @Rikimaaro for finding the alpha on Orditrolls and helping members mint some of the small collection for themselves! Rikimaaro's been on a roll in the #Ordinals chat so come join us and see what all the fun is about! 



Weekend Recap 5/19-5/21

While a smattering of shitcoins continue to carry the meta forward, it was Pudgy Penguins that brought renewed life to the NFT marketplace over the weekend. The Pudgy ecosystem saw big volume, with the parent collection seeing floor sales as high as 6.15E. Lil Pudgys and Rogs also saw substantial gains as the success of Pudgy Toys and other breadcrumbs led to enhanced speculation and conviction. OnChainMonkey floors have also pushed back towards 2E, a gain of over 50% over the past week, and FLUF crested back above the 1E floor mark. 


While Friday and Saturday showed the same slow pace we've seen in recent weeks, overall marketplace volume finished at $29.3 million on Sunday, our highest daily close in 12 days. While slowly ticking downwards, ETH maintains just above the $1800 mark. 



Pudgy Penguins see success on their initial launch of Pudgy Toys, with coverage from NBC news and also a feature cover on Pop Insider magazine. 

ALTS by ADIDAS airdropped 110 golden tickets to select holders, giving them exclusive rewards on their official CONFIRMED app. 

- Azuki Founder Zagabond announces a new community page that is comprised of smaller communities within the Azuki family. 

Art Blocks reveals Prohibition, an upcoming generative art platform set to launch on the Arbitrum blockchain. 

- 10KTF announces its last call for G-Tags. The recycling event window will be open of just one-hour starting on May 25th at 1AM EST. The timing is meant to give opportunity to holders in Australian and Asian time zones. Participants must have 7 $APE and ETH to cover gas. 

- RTFKT and RIMOWA announce the opening of their physical forging window to run from May 29 to June 5. The event will allow holders to redeem for a "Meta Artisan Original Cabin suitcase." 

- BLUR unveils a new chart view that allows users to expand the chart displayed on collection pages. 


MVHQ Spotlight:

- BRC-20s: A Step-by-Step Guide by @BTCAlchemist is a new Field Report that dives back into the world of Bitcoin Ordinals. While the previous overview gave insight into onboarding, this guide walks readers through the step-by-step process of getting into all the action.  Be sure to read the full version inside MVHQ!

- LINEA Farming Guide by @Esren, is another Field Report that features a live updating document and tracks weekly tasks for those interested in farming the Linea airdrop. Be sure to read the full version inside MVHQ!

- Don't forget to sign up for the MVHQ Newsletter! @Silvaserger keeps you up to speed on all the latest Web3 and community happenings and delivers them straight to your inbox. Whether you were touching some grass or want to share what you do with your friends and family...we have you covered! Sign up here: https://www.mvhq.io/#newsletter