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  • Time sensitive NFT Alpha! Just 24 hours left + More from Yuga labs!

Time sensitive NFT Alpha! Just 24 hours left + More from Yuga labs!

Disclaimer

The information contained in this NFT Scoop newsletter or podcast is not financial advice, it is provided for educational, informational, and entertainment purposes only.

The information contained in or provided from or through this website and podcast is not intended to be and does not constitute financial advice, investment advice, trading advice, or any other advice.

NFT’s can be highly illiquid markets, causing sharp drops in prices due to changes in narratives and trends.

Weekly Market Update

Another fairly consistent week in terms of the data. However, a deeper look into the numbers suggests that even though there is consistency over the 7-day period, there has been a surge over the last few days. The % of projects with increased floors has risen strongly over the weekend rising from 39% of projects to 55% at the time of writing. This positive movement can again be linked to the price of Ethereum which has dipped hard throughout April. Furthermore, connected to price surges in the BAYC ecosystem with anticipation building for the land sale and even just from the success of RTFKT’s airdrop and Moonbirds’ swift rise.

Breaking News

Moonbirds has received its first $1m sale. The Sandbox purchased item #2642 for a whopping 350 ETH. The item was initially minted for 2.5ETH and sold for 100ETH before being re-sold for the huge sum.

Akutar’s minting contract sent shockwaves through the space when it was revealed an issue with the contract led to 11,539 ETH ($34m) being permanently locked and unrecoverable. This link will explain in detail what caused this.

One of the largest airlines in the world Emirates has announced plans to launch an NFT for its employees and customers. Not many details are known but we are intrigued to see what utilities are revealed.

Yuga Labs has announced some details regarding the upcoming land sale. Mainly, the sale will be in ApeCoin, you will need to be KYC’ed (registration closed 01/04/22 so if you are not verified it is now too late) and the mint will be in Dutch auction-style. Some details are still awaited such as the starting price of the auction however we will reveal more once known. Full details of the announcement can be found here.

Bored Ape Yacht Club’s Instagram was hacked yesterday. Fake links were uploaded on the page which included an offer of free crypto tokens. Those who tried to claim via the link and connected their wallets gave the hackers access to their wallets containing all their assets. The hackers managed to steal in the region of $3m. There is currently an ongoing investigation as to how the account was hacked in the first instance.

Weekly Winners

In a previous newsletter, in our Floors to Watch section we advised as follows in regards to BAKC:

“With the land sale that is about to take place, it is likely that floors are going to be reaching new all-time highs. Kennel Club gives many more people a fair entrance price into the ecosystem and we are sure that price action will reflect this over the months to come. If the land sale is executed perfectly and $Ape continues to thrive it wouldn’t be surprising to see Kennel club go over 10eth.”

During the time of writing on the 17th April, the floor remained between 6.28ETH and 7.45ETH. However, with the land sale imminent the price of the floor has shot up to a new all-time high of 12.87ETH.

You could have purchased a BAKC for over half of the current floor at the beginning of last week so it is no surprise to see our initial prediction come to fruition given the market dominance of the BAYC.

An incredible buying opportunity presented itself over the weekend. On 22nd April the project, with Nike, introduced “the future of sneakers”. A copy of the announcement can be found here.

Following the announcement, the price of RTFKT-MNLTH dipped to 4.9 ETH which is the lowest it has been in over a month.

Those who entered following the dip will be ecstatic now as all holders were to receive 3 airdropped gifts.

The floor price immediately shot up from the sub 5ETH region at a rapid rate. Just 4 hours from the floor sitting at 4.9ETH it peaked at 12.2 ETH. A 7.3 ETH gain in just the RTFKT - MNLTH price (this excludes the gains made on the airdrops).

All Clone X holders who have held since they were airdropped the MNLTH in February will be beyond delighted with the returns received.

Based on bottom floor prices alone (excluding rare traits and at the time of selling) the amount you could have profited over the weekend from MNLTH with the airdrops is 19.7ETH. An incredible profit if you were able to enter at the sub 5ETH region.

Weekly Loser

We stated in the market direction section of our previous Newsletter (22/04) that it’s great to see the NFT industry moving forward with new utilities & forms taking shape outside the PFP world.

There is no better example of the above than Tiny Faces. As per their bio TinyFaces is a collection of 4000 generative whimsical 3D characters living as NFTs on the blockchain. Each character is entirely unique and is generated by combining hundreds of attributes such as color palettes, skin tones, facial traits, outfits, and accessories.

The project began its whitelist mint on 22/04 and public sale on 23/04 at a price of 0.07ETH.

It is fair to say the mint is not going well as only 2.8k items have been minted (70% of the collection) and the floor currently sits at 0.039 ETH which is almost half of the mint price (excluding gas).

With a strong community behind them, this project may have been a good flipping opportunity during the PFP run however as per our previous, the trends are changing.

News and Market Summary by @DAWA9042

Floors to Watch

Alpha Sharks is a project I shilled multiple times in this newsletter at 0.3eth-0.4eth as being undervalued. Well, my call was right, and the project has shifted above a .8eth floor today. However, I still want to include this as a floor to watch despite this price action. Not only will you get an amazing tool but positive price action definitely doesn’t end here. Staking is launching on the 13th of May. This will cause supply shock and reward holders with value. Moreover, the extension will launch on the 16th of May. This is marketed as the best extension on the market. These two utilities alone will rocket the floor price above 1eth in my opinion. Finally, another dev update came yesterday. The team is constantly improving the tool and now has 13 software engineers working on the project daily. This tool is going to be the best on the market in under 2 months. I think it’s a valuable investment whether you are flipping it or simply using it as a tool like me. Look for an entry closer to .6eth.

Current Floor: 0.83eth

Muri by Haus has its first airdrop snap-shot taking place on the 30th. I can see the floor price moving up further as we get closer to this snapshot. However, the best value you could get from this one is after the snapshot dump. Muri is here to stay and the team is highly impressive. While the anime meta is near enough dead for now. It’ll likely come back and I believe Muri will stand to gain from this. Look for an entry at .5 after the snapshot. This could be a long-term bargain. Or even a short term 2x flip when the next airdrop gets announced.

Current Floor: 0.95eth

VeeFriends2 is probably one of the most no-brain plays right now. If there’s one thing you should learn about the space, it’s that betting on Gary Vee has historically been a good thing. I believe the floor price has been slightly hampered by the Vayner Sports Pass fiasco, high supply, and the upcoming launch of the Yuga Land Sale. Purchasing at these levels is likely going to be a long-term winner. While this is unlikely to be a 5x gain in a few weeks. I believe that it’ll be a slow burner that steadily increases up to the 2 or 3eth levels over the next year. Look for an entry under 1eth.

Current Floor: 1.05eth

Floors to Watch Disclaimer: Floors are likely going to be highly affected by the launch of the BAYC land sale on the 30th. Investors will likely sell their bags in order to buy $Ape. This is the best time to get entries into projects that you are looking for short, mid, or long-term flips.

Alpha

Tigerbob NFT Pre-Mint Whitelist Raffle Opportunity

We wanted to deliver you some early alpha which is time-sensitive. You have just one day left to register for the allow list raffle. The reason we bring up Tigerbob, is that the artist has been already been involved in the Proof Collective grails drop and is followed by the Proof & Moonbirds Founders. Additionally, as the project is pixel art, this is also on-trend at the moment. We should expect some solid growth with a low supply. You will be glad to know the presale cost is just 0.25 eth which is far less than the Moonbirds allowlist/mint.

Details below:

Tigerbob NFT is a collection of 1,000 handmade pixel tigers heads by Gossamer Rozen. This project is NOT generative. All 1,000 NFTs are completed by hand and randomized at mint.The collection features attributes, colours, and themes from Gossamer Rozen's growing body of work. Gossamer has hand-selected each tigerbob in the collection from over 1,000 traits.

Gossamer (AKA grelysian) is the founder and creator of Tigerbob, Gossamer Rozen-branded clothing and fine art, grelysian tattoos and NFTs, and owner of GROZEN FA LLC. Gossamer has been creating work professionally since 2008. Gossamer entered web3 in March 2021 and has created several 1/1 projects like Mrammou NFT. Gossamer is also the lead artist and art director of Woodies NFT and has participated in the PROOF Collective Grails drop.

More details surrounding the Yuga Land Sale dropped late last night. Leaks were correct and the land sale will exclusively be in $Ape. I will include all the major details below and why I am so bullish on this land sale.

-The mint will be exclusively in ApeCoin. However, Eth will be needed for gas.

-The mint itself will be in the style of a Dutch Auction.

-Only those that are KYC approved can mint. You can check your status by connecting your wallet here.

-BAYC and MAYC holders are entitled to claim an NFT for up to 21 days after the Auction with no KYC requirement.

-The ApeCoin acquired from this sale will be locked up for 1 year.

-The only thing left to do after reading this is to pre-approve your KYC wallet here on the morning of the 30th.

-The sale itself will be at 12pm EST on the 30th.

Despite lots of details here, one thing is not known. That is further details surrounding the Dutch Auction which will be available later in the week. If I was to make a prediction I would assume a starting price of 300 ApeCoin in the Dutch Auction which sells out without a major gas war. However, if it is 200 ApeCoins like some people are saying, I can foresee a gas war.

I’m really bullish on this land sale and I believe that if you have the liquidity this is something you should get involved in. Yuga has historically been the best company in Web3 to bet on. I don’t see this being any different. The 10% chance of getting a Koda (genesis collection of the Otherside) in your plot is a chance to get an instant value of in my opinion 15eth+. Rare land will probably sell for 5eth+ and I wouldn’t be surprised if regular land is now a 2x on secondary due to many whales not filling out KYC. I’m really excited about this but I do think it will suck a ton of liquidity from the market.

Official Links:

Floors to Watch and Alpha by @Walty

Thanks for reading! We hope you enjoyed our work this week. For daily updates follow us on Twitter here. Don’t forget to share if you found our newsletter useful. See you on Friday for more.