NiftyNoon: Bored Ape Yacht Club Dominates the Market

Following "The Trial" announcement, Bored Ape Yacht Club and affiliated NFTs dramatically rise in floor price (November 29, 2022)

Nifty Thought

• The mindshare dominance of Yuga Labs is truly remarkable. After a slump for Bored Ape Yacht Club (BAYC) NFTs over a few weeks, the entire BAYC ecosystem was revived with volume that has not been seen since the bull market simply off of one tweet. This impressive display demonstrates that there is liquid capital sitting in the sidelines that is ready to be deployed when appropriate. At the same time however, it also shows how speculative the NFT market still is. Rather than pump on the back of any tangible announcements, this mini bull run seems to be coming off of pure speculation on what “The Trial” might be. Fueling NFT prices with speculation is likely not sustainable for the long term. The industry still has a long way to go.

• For a refresher on our perspective on what “The Trial” might be, feel free to take a look at our last newsletter.

Project News

• JUUNI, a highly anticipated art-centric anime profile picture project, announces their mint schedule:

  JUUNI @JUUNI_Official

  Overview: Mint Schedule & Wallet Submission Thread 🧵 It is almost time to enter our world.   1/

  

• HomaGames, a mobile gaming studio shifting its attention to web3 and NFTs, announces a $100M venture fundraise following their Homa Gang NFT mint:

  Crypto Data Space @cryptodataspace

  Quadrille Capital and Headline jointly led the Seria B funding round for Homa Games. Participants on the tour included Northzone, Fabric Ventures, Bpfrance, Eurazeo and Singular. @HomaGames @nathandaniel @Dreamofnft @rpotier_ #Crypto #Blockchain #Web3

  

  cryptodataspace.comHoma Games Raises $100M in Seria B Investment Round! - Crypto Data SpaceQuadrille Capital and Headline jointly led the Seria B funding round for Homa Games. Participants on the tour included Northzone, Fabric Ventures, Bpfrance, Eurazeo and Singular. Homa Games announced that it would use the funds raised by investing in technology and data products, creating new partne…

• Bill Ackman, the famous investor behind Pershing Square Capital Management, shares his strong conviction with crypto for the long term:

  Bill Ackman @BillAckman

  In a recent thread on crypto, I argued that crypto and tokens enabled the formation of businesses that heretofore could not be created. Some responded that cash could be used in place of tokens, and therefore the ‘innovation’ of crypto was not meaningful. I beg to differ.

Community News

• Following teases for “The Trial”, Bored Ape Yacht Club ecosystem NFTs see massive volume and rises in floor price:

  NFTstatistics.eth @punk9059

  All-in, we ended with 424 BAYC/BAKC/MAYC trades yesterday. That's the 12th most in a single day this year, and the most in 6+ months.

  

  NFTstatistics.eth @punk9059

  The large-cap PFP index has had a little rally: up 13% since Nov 15. BAYC ecosystem has led the rally, but CloneX, Doodles, Azuki all up 8%+ as well.

  

  

• Community speculates on future plans for Azuki’s Beanz companion project:

  Pretzel ⛩️ @Real_Pretzl

  A lot of talk about @AzukiOfficial Beanz recently; Anytime we get into this subject I'm energized. Beanz are hands down my Favorite IP in the Web3 Space. I've been a Beanz Maxi since release. Take a little Dive with me. TLDR:Will die on this hill that Beanz are A1

Quick Stats:

• OpenSea ETH Daily Volume: 6,239 ETH (▼ 4.96%)

• Blur ETH Daily Volume: 4,631 ETH (▼ 1.46%)

• BTC: $16,162.63 (▼ 2.74%)

• ETH: $1,160.94 (▼ 4.63%)

• Solana: $13.14 (▼ 8.60%)

• Polygon: $0.81 (▼ 5.77%)

NFT Daily Winners:

• DigiDaigaku: 8.33 ETH (▲ 5.44%)

• Mutant Ape Yacht Club: 13.48 ETH (▲ 1.13%)

• Clone X: 8.29 ETH (▲ 0.48%)

• Chromie Squiggles: 13.50 ETH (► 0.00%)

• Moonbirds: 7.40 ETH (► 0.00%)

• VeeFriends: 5.57 ETH (► 0.00%)

• Proof Collective: 31.00 ETH (► 0.00%)

NFT Daily Losers:

• Azuki: 10.40 ETH (▼ 0.29%)

• CryptoPunks: 64.69 ETH (▼ 1.91%)

• Bored Ape Yacht Club: 66.99 ETH (▼ 3.33%)

Notes:

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