NFT Weekly Recap (3/4 Jan)
gmgm!
While the crypto rally has seen some consolidation this week, it didn’t help with the floor price of blue-chip NFTs.
However, there are still tons of updates and excitement to share with y’all on this week’s NFT Market Recap. We covered why Azuki’s partnership with BiliBili is a big deal, a deep dive into our latest hiNFT series hiValhalla, and more!
We hope you enjoy this week’s NFT recap.
Fracton Team
Overview
Market Cap: $22.57B
Weekly Change: -0.67%
Volume: $182.87B
Weekly Change: -8.7%
Major Headlines
Azuki has partnered with Bilibili International to explore anime and general web3 content innovations.
Sewer Pass claim and gameplay to open
Nouns are launching the first Nouns Comic, which they describe as the first-ever mass-market publishing project based on a web3 venture
The World Economic Forum launched its own Metaverse yesterday at its Annual Meeting 2023 in Davos, Switzerland.
Canon filed trademarks for an NFT marketplace, and online retail stores allowing users to create NFTs, and mobile apps
Valhalla was regaining steam before it dropped back to 0.9 ETH, it was moving up 17% to 1.11 ETH after notable whale Darran.eth noted them as one of his top plays.
🖥 HiNFTs Monitor
🔥Winners:
Gazers: +4.8%
Chromie Squiggle: +2.0%
CryptoPunks 0.5%
🥶Losers:
Mfers: -14.6%
Fluf World: -15.3%
Valhalla: -15.6%
🧨 Projects in Spotlight
Azuki ($hiAZUKI) Partners with BiliBili!
Learn more about it in our threads below:
The successful launch of hiVALHALLA:
Learn more about Vahalla in this thread:
💡Do Mid-Tier NFTs Matter?
Jason from LuckyTrader has came up with an interesting case study and found out the mid-tier Bored Apes and found out that the mid-tier NFTs don’t really make a difference in prices.
We found it quite interesting because it provided evidence to our fractionalization thesis that most NFT traders do not care about traits, proving our “trait agnostic” NFT ETFs have the right product-market fit.
As rarity scores increase, the floor price of Bored Ape Yacht Club NFTs typically only experiences small increases. However, as rarity scores become more distinct, the floor price rises significantly. The floor price for mid-tier NFTs is similar to that of low-tier NFTs when rarity scores are between 0-10 and only slightly higher when scores are between 10-20. There is a large gap in floor price between mid-tier and high-tier NFTs.
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