Weekly Recap 5/22-5/28 - MVHQ

Weekly Recap 5/22-5/28

MVHQ Staff
May 29, 2023
Weekly Recap 5/22-5/28

Monday 5/22

Signs of life continue to trickle back into the NFT marketplace as we have seen some massive floor surges in recent days.  The Butcher ecosystem has been marching right along with Opepen's drawing an ATH sale of 19E as floor prices have run up nearly 150% in the past week to 0.58E.  The ArtBlocks ecosystem also saw green, most namely Fidenzas, as they rose over 65% in floor price to 87E after a Sotheby's sale that fetched $1 million. Both Kanpai Pandas and Redacted Remiliio Babies saw expanded action after landing on the new lending platform, BLEND. 


Overall marketplace volume closed near the $25 million mark, while ETH plays in the $1850 range. 



STEPN has integrated with Apple Pay and becomes the first blockchain gaming application to break the Web3 barrier within the Apple ecosystem.

- Fast & Furious Hot Wheels NFTs have dropped on the Flow blockchain and sold out 14,000 packs at $20 a pop in just 5 minutes.

BLUR announces Kanpai Pandas and Redacted Remilio Babies as the next two collections on its new BLEND lending platform. 

- LooksRare introduces a new Portfolio analytics tab.


MVHQ Spotlight:

- How to Passively Profit in a Bear Market by @Raggaprince, is our former MVP's latest Field Report contribution. This time, Ragga gives us some insight into how we can utilize the tool oSnipe to position ourselves best and find an edge in the marketplace for some extra spending ETH. Read the full article inside MVHQ!

- Don't forget to use your Daily Blessings! We are nearing the end of the month with another tight MVP race...make sure to /bless fellow members whenever you see value added to the community!



Tuesday 5/23

It was a steady day in the marketplace as a number of notable collections saw positive price action. On1 Force continued its recent surge with floors spiking 15%, up to 1.73E. Nakamigos also had a nice pop back to 0.32E, while RENGA caught some steam with a 17% move toward the green. The Bitcoin Meta has also been raging on as many users take the plunge into the world of Ordinals, BRC20's and SRC20's. With the ever-changing crypto climate, there has been plenty of action across the board to keep traders' attention. 


Overall marketplace volume closed at $25.5 million, a slight uptick from yesterday's number. ETH continues to hold firm in the $1820 range. 



- Ledger has decided to delay the launch of it's highly divisive feature, Ledger Recover. The team had received backlash over code that was not open-sourced and allowed for potential backdoor access into user information and seed phrase fragments. 

- BLUR adds Pudgy Penguins as their latest BLEND lending platform collection. 

- Spirit DAO and Pixelmon have partnered up to create a new comic that integrates "the DAO Comic IP into the upcoming Pixelmon game." 


MVHQ Spotlight: 

- Did you miss a day touching some grass?  Want to start cooking on all the BTC alpha? The #Video-Content and #field-reports channels are poppin' with all our recent community writeups and event recordings. Be sure to check them out and use your /bless along the way!



Wednesday 5/24

NFTs showed they still have a pulse as Art Blocks Curated minted out its most recent project and Snowfro raised nearly 190 ETH for charity via his 10 unminted Squiggle auction. Hong Kong also thrust itself into the spotlight with its adoption of crypto regulation and Ray Chan, otherwise known as 9GAG CEO, formally announced that holders can expect the much-vaunted $MEME token soon. Whatever your cup of tea may be there was plenty of reason for positivity in the long-term outlook of crypto, NFTs, and related assets. 


Overall volume across major marketplaces came in at similar figures to Tuesday, around the $24 million mark off the lows of last week. Crypto meanwhile couldn't decide if it was quite bullish or bearish as it rose above $1820 only to end the day at $1785. 



- Hong Kong is making waves after announcing regulations and licensing for Crypto assets, with even Binance's own CZ commenting on his bullishness on the topic. 

- Snowfro's charity auction for 10 unminted Squiggles ended today with the average bid price coming out to roughly 18.6 ETH, a 50% premium compared to previously minted Squiggles.

- Blend, the Blur lending protocol, added both Otherdeeds and BAKC collections for lending and Buy Now, Pay Later. 

- 9GAG CEO, Ray Chan, confirmed that Memeland will be launching $MEME soon (probably). He has hinted multiple times now that June is the month they are looking at, pending regulatory due diligence. 

- Axie Infinity announced the launch of their Epic Era Season 4, set to balance gameplay elements and give a larger pool of prizes to participants. 

- ON1 Force announced today the hiring of Hicham Habchi as their new Creative Director and Advisor. Habchi has extensive experience with IP such as Valorant, Batman, TMNT and more. 

- Luna and Terra's founder Do Kwon was denied bail today in Montenegro after initially being granted. 


MVHQ Spotlight:

- MVHQ announced its latest Activation Partner today, Arkham Intelligence! Members can now use MVHQ's referral link to skip the waitlist and get started analyzing the blockchain on a whole new level. Check out #HQ-Announcements for more info and #Field-Reports on a guide to get started with Arkham today!

- Always a fan-favorite and MVHQ MVP, Shaggy gave his extremely informed thoughts around the ongoing Debt Ceiling discussions within the US. Be sure to give it a read over in #Field-Reports to stay up to date with all the latest in macroeconomic market influences.



Thursday 5/25

Just as soon as the volume trickled back in it seemed to trickle back out in regards to our precious ETH NFTs. BTC Ordinals and BRC-20s maintained their dominance especially with $0XBT taking center stage for the majority of the day and a majority of the mempool as members fought over precious block space to secure their allocations. Meanwhile, Blur saw its largest liquidation cascade of NFTs causing the Miladys to drop 40% in floor price as underwater loans came due. 


Overall marketplace volume trended back down to the tune of $20 million on the day after a stronger showing earlier in the week. ETH maintained its range and closed the day just above $1800. 



- Kanpai Pandas continued their headline-worthy week by announcing Kanpai Media which aims to be a content hub covering crypto, gambling, sports and many other topics. 

- Following in the footsteps of Blur's success, Binance today introduced its own NFT Loaning platform. 

- Once-popular collection HAPE's parent company Digimental Studio was acquired by Vertex Labs in a $12 million deal. 


MVHQ Spotlight:

- MVHQ was happy to welcome artist and founder of the Rekt Guy and Rekt ecosystem collections, OSF! Aslo and OSF chopped it up discussing OSF's start in Web3, his background in banking and failures and successes in the past two years in NFTs! The recording will be available shortly in #video-content. 



Weekend Recap 5/26-5/28

Recent metas converged over the weekend as BRC-20's and Shitcoins continued to surge with activity.  $OXBT became the most anticipated BRC-20 token launch to date, as it went on to 100x on over $7.5 million in volume. Crypto Influencer @ETH_Ben also raised another $7 million (4000E) after launching another meme coin, $LOYAL. Over on the ETH NFT front, Nakamigos' floor moved back up to the 0.55E range, while most of the marketplace was a sea of red. ETH saw a nice little Sunday pop-in price, now hovering above $1900. 



-  Red Bull held its first Red Bull Doodle Art digital collection. The project is a collaboration with Nifty Gateway with mentorship by Doodles co-Founder, Burnt Toast. 

- The leading ticket issuer for F1 Racing, Platinum Group, released NFT tickets for the Monaco Grand Prix, according to CoinDesk. 

Pudgy Penguins opened its sale for a Shark Suit plushy, which sold out almost instantly. The collectible is re-selling for nearly $1000.  

- Cool Cats revealed Journey 9 and new Cool Score updates.  

- 0N1 Force tweets a new article that points to its focus on Community, IP, and Talent in leading its resurgence back to mainstream NFT headlines. 

- BLUR has added Beanz to it's new lending platform BLEND. Say that ten times fast.  

- LooksRare commits to buying back tokens with fees generated from Raffles and new upcoming projects. Tokens bought back will be held in the LooksRare treasury.


MVHQ Spotlight:

- Happy Memorial Day to those in the U.S. celebrating! Make sure to sign up for the MVHQ Newsletter if you've been out touching grass. Fresh updates and insights are delivered straight to your inbox every week!