Weekly NFT Report: Big Brands Entering Web3
Crypto market showed some recovery in the last couple of days, together with China’s relaxation of some COVID controls. Funding also bounced back to firmly positive territories, although the question remains how long this can last, and if narrative and actual fed policy will change.
Top outperformers in Top 100 are: ADA (+16%), LEO (+11%), XLM (+11%), XCN (+84%), KCS (+10%), HNT (+20%), WAVES (+43%), SNX (+19%), EVMOS (+57%)
Top underperformers in Top 100 are: SOL (-10%), AVAX (-11%), APE (-11%), DFI (-10%), LUNC (-37%), GMT (-17%).
In the NFT space, OpenSea volume (Chart 1,2) continued to cool down in the last 7 days, but transaction counts (Chart 3) remain still relatively robust. In terms of the prices, both broader and blue-chip NFT prices (Chart 4, 5, 6) have stabilized. Also, the deluge of big brands entering the NFT/Metaverse space continue every week.
Next up: deep dive
eBay launches sports NFT collection via partnership with Tezos-powered platform OneOf
- What’s the deal: eBay will be selling NFTs through partnership with one of, an NFT platform specializing in selling music, sports and lifestyle digital assets. The NFT collection will initially involve digital collectibles of popular athletes
Prada launches NFTs
- More about the launch: Prada is scheduled to debut its first solo NFT tomorrow. The NFT will be part of the brand’s ongoing Timecapsule initiative, which drops limited-edition physical products on its website on the firs tThursday of every month. This Thursday, the 100 shirts dropping on Prada’s website will come with a free NFT that is designed like a pill capsule. The NFTs will give owners exclusive access to perks and experiences (which are yet to be revealed on Prada’s new Discord server) — the NFTs are powered by Aura Blockchain Consortium, a non-profit founded by LVMH, Prada, and Cartier powered by Quorum, an Ethereum-based enterprise blockchain service.
- Prada previously partnered with Adidas to launch a Beeple-inspired NFT. And aside from Prada, other luxury brands, such as Gucci and Balenciaga, have also begun to experiment with NFTs.
SuperRare debuts real-life gallery
- More about the debut: SuperRare, an NFT marketplace with focus on 1-of-1s, opened pop-up gallery in Soho, New York City. The exhibition centers around pieces from SuperRare artists with focus on sci-fi and cyberpunk
Gamestop unveils crypto and NFT wallet
- More about the wallet: the beta version of self-custodial Ethereum wallet can be downloaded from Gamestop’s website, and the wallet will enable gamers to send and receive in-game assets. Gamestop’s NFT marketplace is slated to start in July
Sudoswap open-sources its NFT AMM
- More about the open-sourcing: this closely follows OpenSea’s move last week to open-source Seaport, which overlaps with Sudoswap’s unique selling point on facilitating many-to-many NFT swap transactions
- 3.5 ETH floor | 9,999 supply | free mint | minted 5/19
Following: Big Money Raises, and Entrants
- NFG Venture raises $100m fund for DeFi, NFTs and GameFi
- Volt Capital raises $50m fund focusing on DAOs, NFTs, DeFi & Infra
- FanTiger raises $5.5m from Multicoin Capital, Polygon Studios, etc.
→ FanTiger is a music NFT marketplace)
- Kryptomon raises $10m from NFT, Playstudios, etc.
→ The Play-and-Earn blockchain game with inspiration from Pokemon, Tamagotchi, and CryptoKitties raised $10mio.