gm - August 4th, 2023

gm 👋

We're back! NFT markets might be quiet but they are morphing, and we're going to stay on top of the latest happenings in the space. Previous gm's had images and links to articles, but we're going to try a short-and-simple approach of two paragraphs per day. Please share your thoughts in our Discord server!

Volumes over the past 24hrs surpassed $15M in total, with EVM taking $13M. Solana had $1.6M and Immutable with $1M. CryptoPunks, Gods Unchained, and BAYC were each $1M in total turnover. Notably, DeGods volumes were up 43% ask its creator Frank continues his spicey takes on the NFT industry with threads and spaces on Twitter. Milady's floor price is up 22% to 3.5 ETH, similar to the pick up in Killabears' floor price which is +20% to 1.15 ETH - we've seen good flow on loans against bears this week.

The NFT loan space is abuzz with the recent $0.5M loan against 19 CryptoPunks on Arcade at 5% annualised interest. The LTV feels low, but given the dire liquidity and tight lending conditions, this is a healthy sign users still want collateralised loans (mostly for tax advantages). As of last week, there were 1500+ unique wallets across the top 6 NFT loan platforms.