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  • NFT Scoop- Has The Bored Ape Yacht Club Triggered The Start of a New NFT Bull-Run? Read to Get the Scoop.

NFT Scoop- Has The Bored Ape Yacht Club Triggered The Start of a New NFT Bull-Run? Read to Get the Scoop.

March 15, 2022

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Ethereum Market Update

The crypto market as a whole has been declining, as in there is less liquidity and volatility, this generally means that there is a big expansion coming.

My targets to buy spot eth are still in the 1700-1400 range, and price pumps are to get people excited again before pushes back down.

In the meantime, $eth has still been trading in between the range levels we have used for weeks now.

Our Ethereum market update is brought by our resident crypto trader @bissbtc. Follow him here for further updates.

Weekly Market Summary

A positive week in the NFT space! Floor prices have risen strongly, decreased listings are slightly up and volume remains largely the same with a surge in upward movement over the weekend. It is evident there are many undervalued gems being swallowed up as well as some communities holding and not dumping.

Breaking News

There have been some widespread rumours over the past few days that Disney has acquired a well-established NFT company. One of those rumoured was Coolmans (which you will all be familiar with). Another is the NFT marketplace Genies and a few other projects. Nothing concrete has been confirmed but this is certainly one to keep your eye out for given the financial muscle and reputation Disney holds.

Yuga Labs, the creator of Bored Ape Yacht Club, has acquired the CryptoPunks and Meebits collections from LarvaLabs. All that has been announced so far is that full commercial rights have been given to the NFT holders. However, this is by far the biggest single piece of news in NFT history and will likely open the door to other projects who have had similar ideas to acquire rivals.

Following an announcement in September, AMC Cinemas are now accepting Dogecoin for online payments. The payment structure went live a week earlier than expected. It would not be a surprise to see more and more retailers adapting to a cryptocurrency payment method in the near to immediate future.

Weekly  Winners

A project that we first shared with you on the 28th January 2022 and one that is likely to feature again and again! We mentioned this project in our Alpha section and Dour Darcel’s have been this and more! From the terrific art to the team optimizing mint prices, the floor price has witnessed a real boom following the usual post mint paper hands. We had great faith in this project which sold out in a bear tumbling market and we are glad to see the true worth coming to light. No other project in the NFT Space has enjoyed a 7-day floor increase of over 150% which is a testimony to the project. The project announced a collaboration with Collete at 20:12 UTC 14/03/22 on their discord. The announcement was as follows:

“Looks like the news snuck out a little early but I'm here to make it official - our first collaboration is a collection of 25 1/1 NFTs with our dear friends at Colette! Colette was known globally as the very first "concept store". The store revolutionized retail by fusing luxury fashion with streetwear, opening a new world of unexpected collaborations that many retailers and brands are still adopting today. If you went to Paris you'd visit the Eiffel Tower, The Louvre and Colette. It was a champion of emerging talent (including Darcel) and sat at the centre of fashion for 20 years.

It’s possible that without colette Darcel would not be where he is today. Sarah, the co-owner of colette discovered Darcel very early, only a few months after I started posting stories online in 2008. Pretty much from then until the store closed, we worked on projects together, from exhibitions to products and events, all culminating in our joint collection for IKEA. Colette is integral to Darcels history. Sarah took a chance on me, promoting, pushing and acknowledging my work before anyone else and it's important to pay tribute to that. The store might be closed now but this is our way of acknowledging our relationship and all the crazy and fun projects we worked on together over the years. The collaboration also fits into my vision for the Dour Darcels future. Part of that vision is onboarding IRL brands into our community. Collaborating with big brands with big followings brings more attention to Dour Darcels which in turn will hopefully benefit everyone in the community. Of course future collabs will all be different, some might be product-based, others web3 centric, it's all about building a strong DD brand.

This coming Sunday, March 20, will be 25 years since colette first opened their doors. It's also the 10 year anniversary of my exhibition '150/15' at colette. The colette x Dour Darcels collection is a celebration of those anniversaries - 1 NFT for each year of colette's history.  Each NFT is a visual snapshot of the colette and Darcel worlds - the friends and strangers you would see from around the globe at the store, all coming together as one community. Sarah and I worked on each NFT to get the right look and feel for the colette world, you'll recognize some traits from the genesis collection as well as some new ones specific to the colette x Dour Darcels collection.

We'll release the collection on OpenSea on Sunday March 20 - The collaboration will live on a separate smart contract to Dour Darcels, it exists as its own collection. - We are reserving 5 NFTs from the collection as giveaways (yup, FREE + gas) for Dour Darcel token holders. There'll be chances to win these both this week and next. - 9 tokens will be raffled for a reduced price, again only available to DD token holders and randomly chosen through a raffle. - 1 token will be reserved for colette - The remaining 10 tokens will be put up for auction. - colette x Dour Darcels token holders will also receive a custom Casetify phone case with your name, token number and NFT as the artwork, a yet-to-be-released Dour Darcel hoodie and access to extras in an upcoming utility. We'll do a Spaces this week with Sarah too, more on the time and date for that soon That's about it for now

I'm excited to bring some of Darcel's history into web3 - LFG!”

This is an extremely exciting announcement for a project that is already on the up! We would expect further positive price action.

Floor price (at time of writing): 1.15 ETH

7-day volume: 4658 eth traded

7-day listings: 26

% of supply listed for sale: 17.66%

A weekly loser in our newsletter 25/02 following a significant dip, BAYC has re-established as top dogs of the NFT world. As per our breaking news, the announcement of BAYC creator Yuga Labs, acquiring the CryptoPunks and Meebits collections from LarvaLabs may have something to do with the recent weekly increase. Since our newsletter identified the project as a weekly loser the price has rocketed from 77.5eth to 94.65 eth. The 17.15 eth increase in current market value would equate to $43,441.64 (a decent gain for a 2 1/2 week period!) At current market value, you are looking at the sum of $239,748.45 to acquire a BAYC.

Floor price (at time of writing): 94.65ETH

7-day volume: 11061 eth traded

7-day listings: 15

% of supply listed for sale: 6.99%

Weekly Losers

The controversial project that we have covered before unfortunately takes home loser status this week. The roadmap is due to be announced this week but clearly, plenty of investors are getting impatient or not believing in the capabilities of the team which is evidenced by the floor being lowered 84% in the last 7 days. With a low volume in the last 7 days, there’s not too much of a demand to become a holder ahead of the roadmap. It was a very quick process from creation to mint so we are intrigued to see what the roadmap contains and what utilities the NFT can offer.

Floor price (at time of writing): 0.17 ETH

7-day volume: 167eth traded

7-day listings: 530

% of supply listed for sale: 12.96%

This is a project we informed you about in our newsletter 18/02. We advised that this is certainly a project to avoid due to the misleading of investors and the rumour of a slow rug. The project experienced highs of 1.65eth on 03/02 and since then the project has been dumped to an all-time current low. Had you purchased a Hype Bear at the maximum floor price, your asset would now be worth 6% of that price. We would like to remind all of you about the importance of spotting rug pulls. Always remember it is better to take a small hit than end up with a valueless asset.

Floor price (at time of writing): 0.104 ETH

7-day volume: 53eth traded

7-day listings: 185

% of supply listed for sale: 6.43%

Floors to Watch

The Bibiz is the second project in The Habibiz ecosystem. The project sits at a floor of .14eth which is a very good entry into an ecosystem that has the Genesis priced at .7eth. Habibiz is one of the most active web3 alpha communities and picking up a Bibiz will give you an entry into the ecosystem. However, no utility for the project has been announced yet but the team does have a track record of fast implementation of their ideas so this isn’t anything to worry about. With added utility and a growing genesis project it is likely the ecosystem and The Bibiz will continue to perform and this could end up being a very undervalued purchase regarding alpha alone. However, if you want to take less risk then maybe wait until the utility is announced before picking one up on OpenSea.

This is an interesting project for a number of reasons. Firstly, MGXS is on the RTFKT team which is an extremely established and well-connected project which suggests that his own project won’t be run any differently. Secondly, the minting process is something that has never been seen before. 1 Seed = 1 GNSS. However, holders have a choice in what GNSS they end up with. When you go to mint your GNSS you are presented with the option to choose 1 of 10 GNSS. However, the process has two catches. Once you swipe past one to see the next one you cannot go back and there is no official rarity scale so it is up to your and the communities interpretation of certain traits. This makes this a floor to watch as it may impact the floor positively for two reasons. Firstly, holders are directly picking their NFT which should mean that they are less likely to dump on the market as they picked out one they liked. This may stop the post-reveal dump that is often seen on other projects as holders rush to get rid of art they don’t like. Secondly, if you hold your Seed and don’t mint it is highly likely the price will increase significantly as the supply of the Seeds goes down and investors want to buy Seeds to gamble for a rare.

Antonym has finally revealed after delays and the art has gone down well with investors. While the price will likely decline for a little while this could end up being one of the most undervalued investments of the bear market. The general consensus amongst us and the community is that had Antonym launched in January the floor probably would have sat at around 2-4eth. Thus, the current 0.53eth entry is a bargain considering nothing has fundamentally changed with the project. This could certainly be a solid investment as you can sit back and relax as the team builds both a digital and physical brand. If they pull this off successfully over the next few months it would be no shock to see the price near the bull market valuation of 2-4eth.

Alpha 

BFF was created to support women & nonbinary people in getting their share of knowledge, opportunity, & financial rewards in web3. It started with the free kickoff event "BFF Minted" in January, where notable Founding BFFs introduced thousands to web3. The 20k+ signups were proof the community wanted what we were building. 91% identified as women, the majority knowing little to nothing about crypto. They then airdropped attendees a BFF Friendship Bracelet and helped many set up their first crypto wallets. The bracelet serves as a pass to all things BFF & early membership in our community of Blockchain Friends Forever. The BFF Bracelets currently sit on Opensea for 0.74eth. The reason that a project that already launched features as alpha is as follows. BFF Bracelets will serve as a mint pass to their debut 10k PFP collection launching in early April. The project has been working with a major acclaimed artist to complete the pfp project. 8000 BFF bracelets get whitelist and 2000 goes to public sale. Thus, getting hold of a BFF bracelet is an extremely good alpha play for an upcoming project. BFF also won’t be defined by one project as they plan to bring in multiple unique collections to which Bracelet holders will have priority access too. This also includes partnerships. Another key thing to note is how impressive the team behind the project is. Notable members of the team include Mila Kunis, Gwyneth Paltrow, Randi Zuckerberg, Barbara Bush and many other impressive women.Official Links:

Atomo Kids is a genesis collection of 111 unique 1/1 hand-drawn art by an artist called Pedro. The theme of the art is love and fashion. The artist himself has been tattooing for over 10 years and began to sketch a concept out. This concept was the key reason why the project ended up coming to life. The reason we have so little information regarding the project is that the artist prefers to tell the story of the project through art rather than publishing a roadmap. One thing we did pick up is that there will be a few 3D kids scattered around the collection. Moreover, the collection will be built on and expanded over time and each mint will come with a physical toy. Finally, holders will have exclusive access to utility and future drops. While it is unknown to us how the whitelist is achieved, all holders of Pedro’s Foundation Collection will be whitelisted. Sales on these NFTs have been between 0.8eth and 3eth and there aren’t many on the market!

Official Links:

Thanks for reading! See you on Friday.