gm - September 14th, 2023

gm 👋 Volumes overall pick up, as Ethereum NFTs trade $8.2M, Polygon $1.5M, and Mythos $1.4M. DMarket has $1.4M, followed by BAYC with $1.3M on 37 trades from 25 unique buyers. DraftKings posts $1.1M and Nakamigos does $660k. The top sale was an Otherdeed going for $110k, while an OCM Dimensions (on Bitcoin) went for $107k. A rare appearance by Axie Infinity makes it into the top three, selling at $76k.

Nakamigos is issuing a new derivative with a total of 20,000 NFTs, minting at 0.05 ETH each. The community was quick to question the move to raise $1.6M, especially after many felt like there was organic support for the team. Nonetheless, the floor price has dropped 30% in the past 24 hours. Machi has made an ApeCoin DAO proposal (AIP), which proposes to spend 11M $APE to purchase Yuga Lab assets to have museums around the world display them. An AIP worth $500k for a documentary has also passed despite Machi's blocking votes. Friend Tech is still the predominant topic on Crypto Twitter, with many influencers continuing to post charts and winning trades. The protocol has done more in daily fees than Bitcoin in the past 24 hours, with $1.2M in generated fees. NFTstats on Twitter has pointed out that most of the liquidity from NFTs has evaporated, driven in large part by Friend Tech keys taking attention.

Large-cap NFTs have seen a drain in liquidity and consequently, prices