NiftyNoon: BendDAO Auctions Threaten BAYC Floor Price

For October 31, 2022

Nifty Analysis

• This recent wave of BendDAO Bored Ape Yacht Club liquidation auctions continues to push the NFT project’s floor price down. Although this has happened in the past, the floor price quickly recovered from lows after those liquidation auctions concluded. This time may be different as both the macro landscape and sentiment surrounding Bored Ape Yacht Club has changed significantly. Not only has NFT volume continued to decline aggressively due to weakening macro conditions, Bored Ape Yacht Club has experienced some recent negativity due to delays surrounding its $ape staking release. There has also been a broader question of the viability of the project in the long term as the SEC continues its investigation into the project and Otherdeeds, the Bored Ape Yacht Club metaverse, drops in floor price massively due to new execution skepticism. The next few months will be paramount for the top NFT project as it begins to navigates headwinds it has never encountered previously.

• Art Gobblers, one of the most highly anticipated NFT projects in a long time, has taken over NFT twitter over the past few weeks due to its unique art and innovative tokenomics. Although NiftyNoon will focus more on Art Gobblers tomorrow (November 1, 2022), we felt it was crucial to highlight the project’s mint at 4:20 PM ET later today.

Project News

• 9gagceo introduces the Compulsory Royalty Artwork Protocol and Honest Owner Loyalty Yield as potential solutions for NFT royalty avoidance:

  9gagceo @9gagceo

  I’m introducing “Compulsory Royalty Artwork Protocol”, aka CRAP. If a person pays 0% creator fee, a “CRAP” watermark (or other words the creator likes) will be added to the NFT artwork automatically until the next buyer pays creator fee.

  9gagceo @9gagceo

  Introducing "Honest Owner Loyalty Yield", aka HOLY. Each NFT starts with a HOLY score of 69 in the smart contract. When creator fee is paid, score +1; when creator free is not paid, score -1. The higher the score, the more benefits. HOLY + CRAP will make web3 great again. 😇💩

  

  9gagceo @9gagceo

  I’m introducing “Compulsory Royalty Artwork Protocol”, aka CRAP. If a person pays 0% creator fee, a “CRAP” watermark (or other words the creator likes) will be added to the NFT artwork automatically until the next buyer pays creator fee.

• Art Gobblers, an innovative tokenomics-driven project from Justin Roiland and Paradigm, publishes smart contracts in advance of the highly anticipated mint:

  Art Gobblers @artgobblers

  Attention, builder humans! The Art Gobblers smart contracts have been deployed and are ready to integrate. Go time is tomorrow, 10/31. Gobble. etherscan.io/address/0x60bb…

• Azuki recaps Hong Kong Proof of Skate auction event:

  Azuki @AzukiOfficial

  PROOF OF SKATE 🦋🛹 @K11Musea Looking back... 🧵

Community News

• Bored Ape Yacht Club BendDAO auctions once again flood the market and push the infamous project’s floor price down:

  Mike McDonald @MikeMcDonald89

  Calling it now- today ends BAYC's reign as highest floor pfp. 47 apes will be up for auction by the time floor hits 62. Benddao algo seems to use opensea ask before royalties as their oracle price so prices are overestimated by at least 5%

  

  NFTstatistics.eth @punk9059

  With the Bored Ape price inching down to 71, the @BendDAO auction just got 12 new apes. https://t.co/pKvpokSjkO

• New wallets enter the market spending 600 ETH to sweep the floors of a handful of known NFT projects:

  Cirrus @CirrusNFT

  A few brand new wallets that appear to be linked just spent ~600E ($900,000) sweeping some floors including: 3 BAYC 4 MAYC 4 Moonbirds 5 CloneX 5 Azuki 6 Moonbirds 6 Pudgy Penguins 7 Doodles 8 Mfers 12 Cool Cats

  

  • Sparking widespread community discussion, Beeple releases explicit art piece based on well known NFT project CryptoDickButts:

    Farokh | OpenSea Intern 👨🏻‍💼 @farokh

    Do not go look at todays @beeple Everyday unless you want to be shocked for life and have nightmares.

Quick Stats:

• OpenSea USD Daily Volume: $8.78M (▲ 18.95%)

• OpenSea ETH Daily Volume: 5,481 ETH (▲ 18.02%)

• BTC: $20,677.30 (▼ 0.27%)

• ETH: $1,618.00 (▲ 1.63%)

• Solana: $33.72 (▲ 4.07%)

NFT Daily Winners:

• DigiDaigaku: 11.58 ETH (▲ 11.15%)

• Chromie Squiggles: 15.50 ETH (▲ 6.20%)

• Mutant Ape Yacht Club: 11.99 ETH (► 0.00%)

NFT Daily Losers:

• Azuki: 11.65 ETH (▼ 0.43%)

• Proof Collective: 38.00 ETH (▼ 0.52%)

• Clone X: 7.94 ETH (▼ 0.63%)

• CryptoPunks: 64.99 ETH (▼ 0.78%)

• Moonbirds: 8.09 ETH (▼ 1.22%)

• VeeFriends: 5.90 ETH (▼ 1.67%)

• Bored Ape Yacht Club: 67.20 ETH (▼ 2.00%)

• Doodles: 6.50 ETH (▼ 2.96%)

Notes:

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• Created by @AxuETH, @jpegprez, @SSPxLEO, @xhuewa, and @SpeedyGonzale87