NFT Digest: Market trends, Snoop Dogg VeeFriends collaboration, and top upcoming mints for NFT success
After a rough week, NFT markets bounced back over the weekend, with BAYC and Cryptopunks regaining their 50 ETH floor prices. However, high gas fees and memecoin trading kept many NFT enthusiasts at bay. Memeland's Captainz hit a new all-time high of 45 ETH, while Azuki held steady at 15 ETH amid Vegas event buzz. Pudgy Penguins and CloneX showed promise, but Moonbirds suffered backlash due to a poorly executed Diamond Exhibition Drop.
TLDR 📃
- Market's bearish with record low trading volumes 😕
- BAYC & Cryptopunks back in action with 50 ETH floor prices 🚀
- Memeland's Captainz reach new 45 ETH high 📈
- Sotheby's Grail auctions coming, collectors get ready! 🎨
- Snoop Dogg teams up with Veefriends, NFT world shines 🌟
- Pudgy Penguins' brand bible out now, dive into their world 🐧
- Mad Lads minters celebrate 1200% ROI, what a launch! 🎉
- 12 HOT upcoming NFT mints to watch out for
Disclaimer: Not financial or investment advice. Any capital-related decisions you make are your responsibility and yours only.
Market overview 🛒
General market sentiment 🐻
NFT market sentiment is still bearish, but popular mints keep pulling in volume as collectors chase the next big project. Daily NFT trader numbers used to range from 20k-60k but have recently dropped to just 7k. Crazy drop.
Earlier today Opensea recorded daily volumes at a 20 month low - lowest levels since July 2021.
Meanwhile, unique NFT sales on Blur dropped to levels last seen in November.
On the flipside the NFT market has been bolstered by major brands entering the space and a few landmark announcements shared this week.
Marketplace news 📰
- Sotheby’s Grails
One of the most significant collections of digital art ever assembled is coming to auction at Sotheby's across a series of multiple sales throughout 2023.
It all starts 19 May during the Marquee Sale Week at Sotheby’s New York. https://t.co/SrjdtubD3W #SothebysGRAILS pic.twitter.com/AoXRNAbUq7— Sotheby's Metaverse (@Sothebysverse) April 19, 2023
The auction will include Autoglyphs, with estimates between $120,000 and $180,000.
- Moonbirds Day One Diamond Exhibition
As you can imagine, this didn't sit well with people. Those who got the rare pieces started dumping them in the secondary market, causing prices to nosedive. And of course, the artists weren't too thrilled either.
Now, the Moonbirds team came up with a fix: holders can swap their Diamond Exhibition art for a new piece from the collection. Plus, as a little "sorry," they're throwing in extra rare art, Moonbirds, and Oddities. We'll have to wait and see how the community feels about it, though.
- Snoop Dogg and VeeFriends
We've joined forces with @snoopdogg & @garyvee to release the new single, "Please Take A Step Back" (out now) and a new NFT collection inspired by the song.
The only way to mint the NFT? Burn Island 🧵 pic.twitter.com/TwynHlqnLl— VeeFriends (@veefriends) April 28, 2023
- The Pudgy Penguins Brand Bible
- Adidas Indigo Herz Drop
The products were made available in the global Adidas app. This was also advertised as such, bringing NFT products to the eyes of over 100 million Adidas customers. Buyers were required to hold an Adidas NFT to gain access to the drop.
Indigo Herz Drop /// Early access starts now for Europe 🇪🇺
💙 The Indigo Herz Drop is here, bridging the gap between the digital realm and the physical world.🔥 The 7 public pieces are available for adiClub members on https://t.co/bh8m3BOqsi or adidas app based on your… pic.twitter.com/gNJKhwfcIO
— Indigo Herz (@indigo_herz) April 26, 2023
- Mad Lads Mint
Upcoming Mints
This is where the money is and even though we should have a paywall here, we're still going to give you the Alpha for free!We're bringing you an even better, easy-to-digest, high-quality list of upcoming mints, so you have more chances to secure those sweet, sweet whitelists! We've been working tirelessly to gather the hottest projects for you. Here's what we've got our eyes on:
- Walt’s Vault (@waltsvault_NFT) - 30/4/23
- Adidas Golden Ticket (@indigo_herz) - 5/5/23
- Nike Our Force 1 (@dotSWOOSH) - 8/5/23
- Ether (@Ether) by Viii - June
- 10KTF PFP (@10KTFshop) - Mint Date TBA
- Oh Baby Games (@OhBabyGames) - Mint Date TBA
- Star Symphony (@StarSymphony_io) - Mint Date TBA
- Yoga Petz (@Yogapetz) - Mint Date TBA
- Project Animus (@RTFKT) - Mint TBA
- Garbage Friends (@garbagefriends) - Mint TBA
- FewoWorld (@FewoWorld) - Mint TBA
- 0xDeafbeef (@_deafbeef) - Mint TBA
Cryptonary’s take 🧠
Despite the bearish vibes, the NFT space had another action-packed week, which makes us optimistic about its long-term strength. Dollar-cost averaging into flagship ecosystems like Yuga Labs, Chiru Labs, Memeland, DeGods/y00ts, and Pudgy Penguins seems to be a solid strategy.For art collectors, big artists and collections like XCOPY, Claire Silver, Squiggles, Fidenzas, and Autoglyphs are showing resilience. And if you're into the mint and flip game, recent launches like Mad Lads prove there's still quick profit to be made. Mint and hold can be a good option too if you believe in a project, since the low entry cost keeps your risk low.
As always, thank you for reading.
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