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- NFT SCOOP - Warning! Contains potential blue chip NFT that can be 'scooped' for a bargain.
NFT SCOOP - Warning! Contains potential blue chip NFT that can be 'scooped' for a bargain.
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Ethereum Market Update
ETH has still been trading between out range levels, you really want to see that 2400 level hold or you will get some serious blood in the markets that take out the prior 2200 lows. We did close the week with a break of structure on the weekly time frame (as mentioned in Fridays newsletter)
I wouldn’t be surprised If we push up 10% and squeeze short-sellers here though, however, I would expect that move to retrace from there.
Our Ethereum market update is brought by our resident crypto trader @bissbtc. Follow him here for further updates.
Weekly Market Summary
We remain confident in our previous prediction of a bear market. The upturn in volume this week suggests there are plenty being bullish on the market willing to invest in potential bargains and or potential long holds. There have been some launches this week that would ordinarily do well for example clay friends, however, the uncertainty of the bear market is equating to quick flips and a high volume of paper hands. With the floors continuing to drop there will be solid buying opportunities.
Breaking News
Further to our piece last week on donations being made to Ukraine from Cryptocurrencies which was estimated to be $28.5m according to Bloomberg and $43m according to Elliptic the figure has continued to rise and stands at over $63m. As per our previous comments, we send our best wishes to those in the region.
An abandoned crypto wallet with 407 bitcoin has been accessed for the first time since 2013. The current market value of this is $15,295,100.70. It is unknown who owns the wallet however we are sure they will not be leaving it another 9 years before re-accessing!
According to Crypto Regulation Journalist for Bloomberg, Ally Versprille, President Joe Biden is set to sign an executive order this week that will outline the U.S’s Government strategy for Cryptocurrencies. Definitely, one to keep your eyes on!
Weekly Winners
You will recognise the 1st weekly winner this week from our Alpha section of the 28/01 and 22/02 Newsletters. Dour Darcels. The Dour Darcels have true history & brand pedigree attached to the project, the project artwork is exceptional with remarkable attention to detail, they have all the makings making it to the ranks of Blue chip. Dour Darcels had a successful mint on 4th March 2022 with a reasonable mint price of 0.1 and a maximum of 3 mints per wallet. The team behind the mint optimised the minting to be gas efficient with prices for gas ranging between $6 and $15 dollars. Two of the team here at scoop managed to mint for a total gas cost combined of $22.00. What is remarkable about Darcels is that they managed to sell out quickly in a bear market and not only this following the reveal, holders are extremely pleased with the quality of the PFPs. it is not a surprise given Darcel’s previous work involving Louis Vuitton, Paris Fashion week, Coca-Cola, Adidas and Uniqlo has the potential to go Blue Chip. As expected, the floor experienced an initial dip due to paper hands and post-reveal however the floor has maintained a steady price and this project certainly seems a good long-term hold.
Floor price (at time of writing): 0.34ETH
7-day volume: 1597 eth traded
7-day listings: 1985
% of supply listed for sale: 19%
Designed by artist, Josie Bellini, CyberBrokers is described as a first-of-its-kind art collectibles ecosystem centered around 10,001 unique and on-chain CyberBroker NFTs. The mint was entirely reserved for the whitelist with a cost of 0.35eth. The art has not failed to disappoint and this is not a surprise given Bellini’s previous works being sold in Sotheby’s and Christie’s. Following mint, the project has failed to dip below 1eth which is remarkable given the current market conditions. There was of course a touch of paper hands as well as a post-reveal dip however given the sustainability of the price, this project’s launch has been flawless!
Floor price (at time of writing): 1.45ETH
7-day volume: 7910 eth traded
7-day listings: 610
% of supply listed for sale: 17.79%
Weekly Losers
In our newsletter 01/03, we identified Weather Report as a floor to watch given the poor launch and conflict with Dentin. On 03/03 the roadmap was released and the reaction has not been one of joy. Looking at the reaction, a common theme in terms of comments seems to be that the roadmap is “merchandise heavy” suggesting a “cash-grab”. We stand by the art being of good quality however the project’s prospects seem irrecoverable given what has gone on tied together with the bear market. The project is struggling to claw back to the mint price and is currently lagging 3.85x behind Dented Feels.
Floor price (at time of writing): 0.07eth
7-day volume: 244eth traded
7-day listings: -458
% of supply listed for sale: 17.74%
A previous weekly winner where we described this project as a meme in the Web3 world. Key influencers boosted the project however it is evident FOMO has caused the downfall of this one. The Discord messages have maintained their “unique” theme and this project certainly remains one that is not for everybody. There is no roadmap released for this project yet and the project will remain very much community-based. They are holding their first community event on their Discord server on 08/03 so more information regarding the future of the project may be revealed. As always, FOMO can quickly lead to multi eth losses.
Floor price (at time of writing): 0.269eth
7-day volume: 622eth traded
7-day listings: 610
% of supply listed for sale: 17.79%
Floors to Watch
As the bear market continues some serious buying opportunities are going to present themselves. These opportunities will set you up with some solid investments when the market begins to move bullish again. We will include 3 floors worth watching over the coming weeks below.
The collection of 5000 Japanese-inspired NFTs launched during a poor time. The collection fluttered at 5eth for a couple of days but ultimately the project became a victim of the timing of their launch. Despite high hopes that the project could reach 10eth, the floor now sits in the 2.5eth region. No fundamentals have changed with this project since they launched and they have secured excellent collaborations since then. Keep your eyes on this project as the bear market continues. This project has 10+eth potential in the peak of a bull market and thus an entry below 2eth could be a great one. As always, with these picks, it is unlikely you are going to time the bottom of the market. So be careful as NFTs could fall another 50% from where you’ve bought in.
Everyone knows about Mutant Ape Yacht Club. It is the entry point NFT to the BAYC ecosystem and peaked at around 23eth during the bull market. It has been said for a long time that MAYC has 70% of the utility of a BAYC for 10-20% of the price. The price of these has slumped to 13.5eth over the last week. Considering the ATH, this is an excellent opportunity. If you are bullish on NFTs then you are ultimately bullish on the BAYC ecosystem as the project has moved like Bitcoin in the past. When BAYC sees rises the rest of the NFT market usually follows. Thus, if you can get in on this project under 10eth it could very well be the best value play you will ever make in Web3. With more and more celebrities buying into this project every day, it’s becoming a status symbol and key to mass adoption. Who knows where the floor could be in a few months.
This project was heavily anticipated and hyped pre-mint. However, it was yet another project that fell victim to poor market conditions. During the last bull market, the projects that launched and were left undervalued during the bear market saw high rewards. We believe that this project will be one of them. The floor is holding pretty strongly in the 0.6eth region which is bullish for the project long-term as investors seem to be pretty confident in their purchase. We believe as poor market conditions continue a buying opportunity under 0.5eth will present itself.
Alpha
BlooLoops is a piece of extremely early alpha. The project has yet to amass even 1000 followers on Twitter and the discord sits at just 1500 members. The collection itself is a 10,000 piece animated collection. However, the project has more to it than just animations. There is a ton of lore surrounding the current and future path of the project. One of the key things on the roadmap is that after mint the team is going to attempt to create a mini-cartoon series using the BlooLoop characters. Just imagine how valuable your NFT would be if it became the star of a cartoon series. The whitelist can be earned by owning one of two genesis collections which sit at 0.2eth and 0.4eth floors respectively. You can see these collections here and here. This is certainly one to watch after the success of other animated collections recently in the space.
Official Links
This project became The Sunnies first collaboration. It certainly fits into the art style that is popular right now. Due to the discord being closed we have very little information regarding the project itself. However, through effective partnerships, the project is starting to pick up some serious attention in the space. To gain access to the discord put notifications on their Twitter and stay in tune with the project. The only other details known about the project is that it is a community and creatively driven which is refreshing, to say the least.
Official Links:
Thanks for reading! See you on Friday.