Weekly Recap 5/8-5/14 - MVHQ

Weekly Recap 5/8-5/14

MVHQ Staff
May 15, 2023
Weekly Recap 5/8-5/14

Monday 5/8

With destruction left behind by endless roundtripped Shitcoin bags, the end was seemingly near. However, a phoenix arose from the ashes in the form of $FOUR, thus keeping Shitcoin Season alive for at least a few more days. The latest pre-sale meta is upon us with token launches blasting off effortlessly throughout the day, only to fizzle shortly thereafter.  Overall market sentiment seemed slow, low and licking it's wounds from recent shitcoin degeneracy, with the majority of NFT projects seeing red on the day. NFT marketplace volume checked in just over $24 million with ETH still playing in the $1850 range. 



BLUR announces that DeGods are the latest collection to be included in its new lending platform, BLEND. 

VeeFriends and Snoop Dogg unveil Phase 2 of their collaboration, which includes a trivia game set to run from May 31st until June 5th. Prizes for the event include a Bored Ape, Mutant Ape, Otherside Koda, Kennel Club and $APE. 

RTFKT pushes back its current forge deadline due to high gas prices.  The new deadline is set for Wednesday, May 10th at 12PM EST. 

- Cool Cats introduce the Kritten, it's newest character that will "be EXTREMELY valuable in upcoming journeys." 

- NBA Topshot pushes a Playoff update with new packs and a chance to win a trip to the NBA Draft.  


MVHQ Spotlight

- We had a flurry of awesome Field reports come through the pipeline over the weekend, allowing us to keep cooking no matter the market conditions. Make sure you give them a read and don't forget to use your /bless along the way! 

1. Knights of Degen pre-seed alpha: https://discord.com/channels/803826552025907200/1104220163601092668

2. Memeland Deep Dive: https://discord.com/channels/803826552025907200/1104745778636927036 

3. Maestro Startup Guide and Quick Reference: https://discord.com/channels/803826552025907200/1104554001187471400 

4. Bitcoin and the new BRC-20: https://discord.com/channels/803826552025907200/1105161217649168578 

- As a reminder, the top 5 Field Report posts monthly will get a 0.1E reward. Did you write multiple Field Reports in a month? Each post is eligible to win! Make sure you click on post emojis to tally your vote. 



Tuesday 5/9

NFT trading remained slow due to lacking interest and the new normal we've come to accept with high gas thanks to shitcoiner's continued efforts. Tokens like $FOUR, $GONER and $PICKLE dominated the timeline today with $PEPE even seeing a recovery thanks to a listing pump courtesy of a Gemini listing. Despite the focus on coin trading, Pudgy Penguins announced a raise of $9 million as yet another former Coinbase employee found themselves in legal hot water. 


Daily NFT volume for major marketplaces traded was $26 million with a majority unsurprisingly coming from Blur. ETH continued to range around $1850 as we skated through the day without another black swan event thankfully. 



- Pudgy Penguins announced fundraising of $9 million to further its IP rights, with 1KX leading the round. 

- VeeFriends announced a new product initiative centered around VeeFriends Vending Machines for small rubber toys of the iconic characters. 

- A former Coinbase employee, Ishan Wahi, has been sentenced to two years in prison for charges related to wire fraud and insider trading. 

- Blur took to Twitter to announce bidding is now available on mobile both to actively bid or to view bids. 

- Beeple alerted his holders to move their Beeple NFTs into noncustodial wallets in anticipation of the upcoming "goat-related airdrop raffle". 

- On1 Force shared a new initiative called, On1 Force Worldwide. On1 Force Worldwide will allow holders to apply for assistance to grow the community and brand through marketing, financial assets, and other kinds of support. 

- Gabe Leydon and his company Limit Break released their new smart contract for enforceable on-chain royalties, dubbed ERC-721C for creators. 


MVHQ Spotlight

- On a slower day for NFTs, community member @Qyxx was able to locate extremely useful airdrop alpha where users could claim free $TEZ based on gas fees paid. Shoutout to Qyxx and his ability to stay nimble and find an edge! 



Wednesday, 5/10

Elon Musk rolled out his best Gary V impression akin to Twitter pumps of NFT past, by randomly tweeting a Milady's themed meme and causing floors to pump...then proceed to dump.  The Yuga ecosystem suffered a scare after a popular lending protocol admitted to a 50%  hole in its treasury, and in news that I know @Silvaserger#9624 is excited for, Barbie makes her official entrance into Web3 in a collab with Boss Beauties!


Overall marketplace volume checked in at its highest number since April 21st, at over $40 million in transactions. ETH continues to hang on above the $1800 range. 



Elon Musk created some hysteria when he tweeted a Meme from the Miladys NFT collection. Floor prices surged above 7E and have since returned back to the 4.8E range. 

- Boss Beauties are partnering up with Barbie for a virtual collectible celebration on the Flow blockchain. The collab aims to donate $250,000 to the Barbie Dream Gap Project and Boss Beauties Foundation. 

ParaSpace reveals that not all funds have been accounted for from an exploit that happened in March, claiming that one of their Founders took 50% of the funds for himself. The NFT lending protocol is one of the largest and attempts to retrieve the funds have not been met.  

BLUR announces two new changes for its users coming this week. The first requires bidders to cancel their bids prior to accepting lower bids, which is effective tomorrow, Thursday, May 11th. The next update will be an initial phase of filters for "Bid spoofers," or bots that front-run accepted bids. 

- Digital artist and MVHQ advisor, Refik Anadol, announces new burn mechanics for his collaboration with FeralFile and MoMa and the Data Universe series. Collectors can burn their NFTs for "new physical and digital artworks and benefits."

- OpenSea Pro adds Farmer Wallet Labels to help identify bid farmers at a glance 

- Dune Analytics announces that Solana Decoding is now live on its platform, unlocking powerful data for Solana builders. 

- LooksRare launches its mobile app beta 


MVHQ Spotlight:

- We welcomed the CEO of Pudgy Penguins, Luca Netz to Episode #45 of Numbers Therapy earlier today. Fresh off the news of a recent $9 million Pudgy Penguin raise, @aslo led an insightful conversation that touched on a variety of topics with a little alpha dropped along the way. Recording will be posted in #videocontent when available. 

- Five Tips You Need to Know When Trading Shitcoins! A new video from our very own @Rossboss, is sure to help on your Shitcoin trading journey. Check it out here: https://twitter.com/Metaverse_HQ/status/1656419149210431488 

- Make sure you check out all of our Focused Discussion forums and join in the conversation of your favorite projects or learn something new. #Ordinals and #Shitcoins are just two that have been absolutely cooking lately!



Thursday 5/11

Thursday came and went as a rather forgettable one for the NFT space and broader Web3. News came at a premium with the few headlines popping up relating to Moonbirds, Cool Cats, and some unexpected errors with the Ethereum Beacon chain. Overall shitcoins continued their domination of trader's attention with gas routinely sitting above 200 gwei as degens chased the next great 1000X opportunity. 


Total marketplace volume returned to a paltry $24 million following Wednesday's surprising $42 million return. ETH took a tumble later in the evening after breaking its support and ending up at $1765 after ping-ponging around that range. 



- Moonbirds and Spotify announced a partnership today where NFT holders will get access to exclusive token-gates playlists and other features developed by Spotify. 

- LooksRare officially launched their mobile app in beta for iOS and Android devices. 

- Cool Cats began Journey #7 today and distributed rewards for holders who Journey #6 with a new NFT to be used in later Journeys. 

- The Ethereum blockchain suffered a temporary setback when blocks were not finalized for several hours. Fortunately, no security issues occurred and blocks began finalizing later this evening.


MVHQ Spotlight

- Even amidst the red candles and falling floor prices, the #Shitcoins channel is still finding ways to capture upside with their shared knowledge and networks to pick the gems of the day like $BITCOIN and $GOOCH. 



Weekend Recap 5/12-5/14

With the deflating end of shitcoin season seemingly upon us, the wrath of the Bear Market nudged activity to a slow weekend crawl. NFT floors remained relatively flat, with most collections seeing negligible moves in either direction. Neither Saturday or Sunday cracked $15 million in overall volume as the NFT world patiently waits for the next major catalyst to return healthy momentum to the marketplace. A few notable headlines came to light as the Pudgy ecosystem will soon be introduced to new physicals, ADIDAS has a new Web3 re-brand, and Memeland Raids are now live! ETH continues to hover in the $1820 range.



ADIDAS rebrands its Web3 presence from Indigo Herz to ALTS by Adidas. 

Pudgy Penguins officially announce the launch of its Pudgy Toys physical collectibles for May 18th. 

- Season 1 of Memeland Raids went live on Friday. 

BLUR will add two new collections to its BLEND lending platform on Monday. 

- OpenSea Pro announces another upgrade with Top Collection Offers now appearing on the Homepage. 

- Art Blocks upgrades its BytecodeStorage library for increased on-chain storage solutions and potential. 

- Valhalla introduces a new Battle Pass that aims to act as a loyalty program for long-time holders. 


MVHQ Spotlight:

- MVHQ has teamed up with Karate Combat to bring exclusive rewards to the community. Tomorrow thru Friday, iOS users can download the Karate Combat app, with MVHQ members receiving up to 100,000 $KARATE tokens, over 5x the general public amount. The Karate Combat team recently raised over $18 million in funding while boasting over 10 million viewers of its events.  Watch, Play, Win! See all the details in this announcement: https://discord.com/channels/803826552025907200/831707564572016671/1106758429650976778

- Big shoutout to @BTCAlchemist for a detailed breakdown of BTC Ordinals onboarding for those looking to get into some Bitcoin action. https://discord.com/channels/803826552025907200/1107434243929423872