#030: News Updates and BAYC Pacing the NFT World
Welcome to the 30th edition of the NFT Drops Newsletter. This week, we will highlight the biggest news from the past two weeks and dive into some projects that we find especially interesting. At the end, we talk a little bit more about the amazing work of Bored Apes.
Here we go!💧
NFT News Recap
Invokers are a set of 5,000 3D NFTs that are housed on Solana. They dropped on January 22nd and sold out almost instantly. Ownership of ten of these NFTs grants the holder membership to a DAO, and each Invoker yields $10 per day in $INV. Additionally, the NFTs are usable in a multiplayer game.
WarpSound NFTs dropped and revealed ten days back, providing a somewhat new take on music NFTs. They are a hybrid between generative pfps and generative music, composed by AI. The verified collection has a floor of .2 ETH. Listen/view the NFTs here.
The long-awaited Hape Beast drop launched since our last publication. It was conducted mostly via a whitelist, and public opportunities to mint were slim. On the secondary market, activity was unimpeded. High activity propelled it to the top of Opensea’s volume rankings, with a floor of 8 ETH.
The Florida Man NFT collection is an Ethereum project revealing on February 9. No whitelist, no unnecessary tasks, just a simple mint to those who can buy. There will be 5000 NFTs available and their discord has seen steady growth.
Azuki has been receiving a lot of praise from the world of NFTs recently. They seem to be a collection achieving the evasive task of building a dedicated community via utility. Don’t mind the floor price in the tweet below, an Azuki NFT will cost you 9.5 ETH at the time of publication.
Some notable achievements from Azuki: - Written revolutionary smart contract (see tweet below) - Dropped and sold out on 01/12 - Designed informative website to onboard new NFT users - Floor price jumped to 3.85 ETH - Extensive plans for the futureIntroducing ERC721A: An Improved ERC721 Implementation ⛩️ https://t.co/GbKSmmJxoW Azuki has developed a new algorithm, which for the first time *ever* in the NFT space, enables minting multiple NFTs for essentially the same cost of minting a single NFT. https://t.co/3AU9tmin2yAzuki @AzukiZen100 3Dmfers launched this week as an endorsed complement to sartoshi’s well-known collection of 10,000 mfers. We sent out a tweet this week to scoop one of the limited NFTs up while the floor was low, and it has since doubled to .5 ETH (only .1 above the floor of the much more available mfer NFTs).
Lives of Asuna closed their presale on Saturday 01/29, selling all but 1,917 Asunas to eligible collectors. After that, the remaining 1,917 were raffled to the public (results coming in ~ 18 hours at time of publication). With a mint price of 0.08 ETH, a large following and sky-high demand have since driven the secondary market to a floor price of 2.12 ETH.
BAYC Update
Two weeks ago, we showed climbing floor prices for a few famous NFT collections, including Bored Ape Yacht Club, Doodles, and Cool Cats. The relevance of these popular collections has diffused into popular culture, and they command attention. No set of NFTs shows this better than the BAYC!
In the past two weeks, many popular collections have continued to climb in value. Bored Ape Yacht Club in particular has reached an incredible milestone:
The floor price surpassed 100 ETH for the first time ever this week. The collection continues to amaze. They overcame CryptoPunks a few weeks back, went on an incredible run above 80 ETH, and now sit at a 107 ETH floor!
In addition, the Bored Ape Yacht Club Company (not just the NFTs) was just valued at $5 billion. Widespread recognition of leaders in sends more people to check out the NFT space a little deeper, which bodes well for the future.
Mutant Ape Yacht Club, the saturated, geared out, colorful siblings of BAYC, deserves special attention as well. Not long ago, Mutant Apes were seen as cool counterparts to BAYC, but somewhat undervalued and under-appreciated. Now, MAYC is a leader in the space just like the OG Apes. They have a floor of 24.5 ETH, and much like their siblings they show no signs of stopping.
That’s It!
Thanks for reading! See you all in two weeks💧