Weekly Recap 5/29-6/4 - MVHQ

Weekly Recap 5/29-6/4

MVHQ Staff
Jun 5, 2023
Weekly Recap 5/29-6/4

Monday and Tuesday 5/29 - 5/30

All was quiet on the NFT front as those stateside celebrated Memorial Day and eased back into a quiet Tuesday. That was until the latest dose of FUD hit the space in the form of Pixel Penguins NFTs turning what should have been a feel-good story into the most recent instance of duplicity from scammers. As many dealt with the fallout of the Penguins situation, NFTs quietly had a nice few days in the markets with Azuki, Opepen, and Captainz all enjoying strong volume. 


Overall markets traded $23 and $22 million respectively to start the week with Jack Butcher's Opepen Editions enjoying a run of over 1000 ETH in volume thanks to a very successful collaboration with artist Batz along with inspiring speculation over potential versions to come. ETH began Monday in its $1900 range before ending Tuesday at $1870 after a late decline. 



- The Otherside account tweeted more details of their upcoming Legends of the Mara activation, including the reveal of "ally PFPs" able to be used as teammates in the battles ahead.

- OnChainMonkey announced today the delay of their imminent Dimensionals mint, set to take the form of BTC Ordinal inscriptions, until June 15, a delay of roughly two weeks.

- ApeCoin DAO has transitioned to Phase 2 of its nomination process for its newest Special Council members actively being voted on.

- OpenSea has added a new OpenSea Pro Bot to its new OS Pro platform that will continually monitor sweeps on the platform.

- Dapper's La Liga Golazos has added challenges with rewards featuring phenoms of the sport, Christiano Ronaldo and Lionel Messi.


MVHQ Spotlight:

- Don't forget to use your Daily Blessings! Tomorrow is the last day of May and then we will crown a new MVP so be sure to show who your think has earned it this past month with /bless. 



Wednesday 5/31

A few notable headlines helped fuel a seemingly resurgent marketplace today.  Jack Butcher's ecosystem surged as Checks Originals and Editions, as well as Opepens all saw 15%+ gains. Azuki finds a creative way to integrate a new Spirit DAO comic onto collector profile pages and FEWOCiOUS announces a new 20k supply project coming in August. 


Overall marketplace volume closed over $26.7 million, the highest number we have seen in 10 days. ETH continues to maintain in the $1850 range. 



- Jack Butchers Open Edition of a video closed its mint window after 12,689 items were minted. The video is for collectible purposes only and helped spark momentum across the Butcher ecosystem.  

FEWOCiOUS announced an upcoming 20k supply collection called Fewos. Frankensteins, Misunderstoods, and Humanoids are all set to become the PFPs of Fewoworld and is set to debut in August. 

Spirit DAO launched its first-ever Comic, which was also officially sanctioned by Azuki to equip as a trait that appears on an Azuki holders Collector's Profile. 

- Pixelmon unveils its new Party Quest, which allows players to create teams of trainers and Pixelmon to help pursue rewards on their journey. 

- ON1 Force announced that it has joined forces with Theia Interactive to help "expand our IP across the metaverse," with its initial sights set on Fortnite Creative 2.0. 

Doodles and retail store CAMP have partnered up to bring physical experiences and merchandise too Doodles collectors and the broader public. 


MVHQ Spotlight:

- Are you looking for an update on the broader economic climate? A new Macro Update for June from can be in Field Reports.  Shaggy details some of the important factors to consider as we head into the Summer while also giving us some notable dates to keep on the radar. 



Thursday 6/1

The market felt alive again in a meaningful way with volume as flowed in on both ETH and BTC. While there was no real major project news that sparked this activity, there was a series of smaller announcements that were bullish on longer-term efforts in the space like Gamestop's new Web3 game launcher and Nike's .SWOOSH partnership opportunities with EA Sports. ETH markets saw several projects cross the 500E in daily volume threshold like Opepen (515E), Captainz (530E), Azuki (780E), and Ben.eth's latest fundraising in the form of FF6000 (550E), an orange NFT joining the ever-increasing jenga tower of projects growing under his brand. 


Major marketplaces on ETH saw $30 million traded for only the second time in the past month while continuing the slow uptrend we've experienced for a week now. BTC also had its fair share of success today with the Bitcoin Bear Cubs passing 22 BTC in volume in a mere four hours after minting out, showing that both chains can have consistent volume and share the spotlight. ETH also bounced back a bit to close the day at $1895. 



- Gamestop announced a partnership with Telos blockchain to create the Gamestop Playr, a Web3 game launcher for the masses.

- Nike's Virtual Studios have teamed up with gaming giant EA Sports to offer .SWOOSH members the ability to customize their digital sports experience with limited-edition styling options.

- The second auction of items seized from 3 Arrows Capital's bankruptcy are set to go to auction via Sotheby's on June 15th. This set is headlined by "The Goose", an iconic piece from Dmitri Cherniak's Ringers series.

- The Uniswap community recently voted against turning on a "Fee Switch" which would have charged liquidity providers a 1/5 of pool fees to generate revenue.

- The latest Cool Cats Journey began today for Shadow Wolves holders while participants of the previous Journey were airdropped an Umbrium NFT to be used later.


Notable Mints:

- Ben.eth surprised the space today with a shock drop of FF6000, a collection of 9k NFTs that minted out at .1E per mint. While the Floor price never took off very far from mint it did manage to trade over 500E in volume, showing old Ben still has some juice even after the umpteenth token drop and presale. 

- Bitcoin Bear Cubs was the other hot project of the day with MVHQ securing whitelists and onboarding many new users to the world of BTC Ordinals! The 10k supply Ordinal project minted out at .0028 BTC a piece after an hour or so due in large part to Unisat wallet going offline. Regardless, volume came in heavy seeing upwards of 500 pending transactions at times, trading over 22 BTC in volume, while holding a floor price of .0076 BTC.


MVHQ Spotlight:

- With the month of May wrapped up MVHQ is excited to announce the 5 candidates eligible for this month's MVP award! Napoleon.C, BTCAlchemist, Rikimaaro, Wafdawg, and RaggaPrince topped the /bless leaderboard for May thanks to their insightful Field Reports, BTC Ordinals Office Hours, Shitcoin expertise and more. Congrats to all five of these legends as we await to see who comes out on top!



Weekend Recap 6/2-6/4

Another large-scale wallet compromise and some light marketplace activity helped keep things moving along over the weekend. The broader crypto landscape saw metaverse-themed coins pump as the anticipation for Apple's WWDC event continues to build for tomorrow. Decentraland ($MANA), Sandbox ($SAND), and Apecoin ($APE) were some of the notable tokens to pop. Recent mint Sproto Gremlins has seen nearly 650E in volume over the past few days as its floor ran up over 100%, into the 0.5E range. Azuki had its floor run back up above the 17.5E mark, with Beanz also seeing nice action with floors back above 1.6E as their June Vegas event is just on the horizon. 


Overall marketplace volume averaged over $26 million over the past three days, with Saturday closing at a weekend high of $31 million. ETH continues to range above the $1850 mark. 



Atomic Crypto Wallet was compromised, with the largest victim losing nearly $8 million.  The total number of lost funds has exceeded $35 million, according to ZachXBT

BLUR hints at changes coming to its points system after a teased tweet from Founder Pacman. 

- World of Women announce a new partnership with Cloudy Bay, a premium wine label from New Zealand. 

- Murakami Flowers NFT holders can now claim a promotional card as a gift and access to a new project. 

- OpenSea Pro announces a new Proceeds-Based Listings feature, which allows users to control proceeds during the listing process. 


MVHQ Spotlight:

- Congratulations to our newest MVHQ MVP, Napolean C.!  Napolean has helped many members take advantage of the recent meme coin surge, constantly helping others and providing alpha. He takes home a robust 2.5E prize! Thank you to all our May MVP nominees for helping the community cook!