NFT update - April 29, 2022 (Patreon)

First of all, APE coin up more than 30% since my post on April 20. Mutant NFT is up as much in ETH term during this period. 

As we head into the actual event on April 30, I won't be surprised if we see "buy the rumor, sell the news" type of movement.

Furthermore, as pointed out in the trading course discord channel on 4/29 5am HK time when APE was $26, this move is looking like a "climax run". As such I'll be taking profit more aggressively ahead of the event. 

The NFT market has been quite active for the past 7 days, with a total sales volume on the secondary market up 12.2% week-on-week (wow), reaching $896M. The most active was Moonbirds, followed by Mutants. This is mainly due to the constant flow of news by the blue chips and we can discuss them below.

April 16 was the highly anticipated Moonbird’s launch (mentioned in the last NFT update before it happened). It is the pfp (profile pic) project of Proof Collective which was founded by Kevin Rose and includes members such as Gary Vee. Moonbird’s 2.5E mint price and strong demand drove the floor price of this 10,000 piece project up to 36E. Although new, it’s total sales volume already reached US$461M and it’s currently ranked #11 in all time sales volume.

A lot of high transactions are made and the Moonbird below is the most expensive traded so far, bought by The Sandbox game account for 350E (~US$1M). Off to a great start but Moonbird is currently facing fud as their COO Ryan Carson decided to leave the project just a week after launch to start his own investment fund.

Next up is the RTFKT - MNLTH’s reveal! This is a collaboration with Nike, you can say it is Nike's first shoe in the metaverse, and is a mysterious box airdropped to all Clone X holders back in Feb.  This is the reward of holding [some] NFTs, you receive "airdrops", which is similar concept to dividends. So if you held Clone X NFT back in February, you received this MNLTH airdrop which is worth 11 ETH (US$33,000). And if you are holding BAYC or MAYC, you are about to receive a land airdrop in the coming weekend. 

Starting April 23, MNLTH can be burned to collect three items.

1. RTFKT x Nike Dunk Genesis CRYPTOKICKS
2. RTFKT SKIN VIAL: EVO X
3. RTFKT X NIKE MONOLITH

RTFKT will have an event with Takashi Murakami in Gagosian NYC on May 11 and there has been a lot of teases from both RTFKT and Murakami’s social accounts on displaying Clone X. On April 26, there were also two 100E (~US$300,000) sales of relatively mid rank Clones by the account nftTANUKI. There’s speculation about Murakami owning this account and buying clean clones for his collection.  People rushed to list their clones now at 100E, hoping it will get scoped by the mysterious collector. Total listing at 100E is at 364 out of 2440 total listed. There were less than 100 listings at 100E before this event.

On April 25, VeeFriends series 2’s 55K collection had its public mint. It is the largest pfp collection and with Gary Vee hyping the project, sales volume is pretty strong putting it in rank #6 for the past 7 days. Due to huge supply, the fp dropped from 1E+ to now ~0.7E after the public mint. There are still tons of demand and it’d be interesting to see how this project sustains after sell out.

Last but not least, Yuga labs announced their land sale - Otherside on 30 Apr. BAYC and MAYC will be airdropped a piece of land. This explains why BAYC and MAYC are ranked #2 and #3 respectively in the charts, with fp also increased significantly.

For others to mint, KYC will have to be completed and the mint will be in ApeCoin. Although it was speculated already, but the announcement still caused ApeCoin to do a moonshot up from ~$15 to $21 Rumor has it that this mint is not just land but you might have a chance to mint a Koda too. In case you don’t know, this is Koda.

Disclaimer: The content of this post is solely for information purpose and do not constitute investment advice