gm - July 21st, 2022

gm 👋

After an exciting week, markets are quiet and look to be consolidating here. The ECB has hiked rates by 50bps, the first in 11 years. First-time unemployment claims rose to 8-mth highs last week in the US, which reflects the reality everyone but economists seem to realize. ETHUSD is right at $1500 now, trading on 10% fewer volumes today of $20B, while BTCUSD is $22700, softer by 2% on volumes of $51B. NFT/Metaverse names are mixed, albeit within a +/-2% range. $SAND interestingly is basically unchanged, moving +2% on the day to $1.35 despite the decision by Mojang to essentially ban anything blockchain-related in their game Minecraft.

EVM-based NFT volumes are up 13% on the day to $19M, driven in part by Moonbird Oddities, which was an impressive turnover of $3.6M. Solana-based NFTs were just shy of $2M turnover day, printing $1.8M in the past 24hrs. CryptoPunks volumes have subsided with just a little over $600k changing hands.

For Blue-Chips, BAYC was at a steady $1.5M in volumes with the floor price not budging at 94 ETH. The Mutants didn’t quite reach the half-million mark in turnover, with floor prices dropping by 1~1.5 ETH to 17 ETH. Doodles cross the half-million mark of turnover on steady floor pricing of 11.4 ETH. Otherwise, volumes were muted across the rest of the Blue-Chip names — one example is Cool Cats only trading $33k in volume on softer floor pricing to 3.75 ETH.

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NFT headlines on the day:

Minecraft team says NFTs and blockchain are, well, blocked

The Current Landscape of Soulbound Tokens

Here’s Why Many Gamers (Rightfully) Aren’t so Game on NFTs

Final Fantasy NFTs Coming to Polkadot in Square Enix, Enjin Alliance

How An NFT Trader Lost $150K Trying to Troll Twitter Bots

AI-Based Startup Optic Raises $11M to Put the ‘NF’ in NFTs

Delphi Digital: How to get gamers to accept the integration of NFTs


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