NiftyNoon: Don't DAObt DAOs
For October 4, 2022
Nifty Analysis
The announcement of the Moonbirds DAO details are extremely interesting for two reasons. The announcements were positioned as tentative pending the community’s feedback. This is in stark contrast with previous moves from the team that were often highly controversial and seemingly executed without regard for the community. Furthermore, the DAO itself seems to be meticulously designed. Rather than keeping the entire treasury in USD or ETH, part of it is held in Moonbirds. Intuitively, this makes sense as it aligns the interests of the DAO with the Moonbirds holders. However, we have not seen this from similar structures such as the Doodlebank treasury. Although the DAO’s launch is still many months away, it has the potential to radically change the standard for NFT projects as we know them.
The market has slowed down overall with floor prices largely consolidating. It is notable that the levels by which profile picture NFT projects are grouped has largely remained unchanged from the bull market in April. The largest change, of course, is simply that prices are far lower. The most expensive profile picture NFTs are still Bored Ape Yacht Club and CryptoPunks. Significantly below that are projects such as Azuki, Moonbirds, and Mutant Ape Yacht Club. Finally, the last level contains Doodles and Clone X. It will be exciting to see if any project can break out of these pre-set levels (for better or worse) and establish a new norm.
Project News
The Moonbirds DAO details were announced with a launch date slated for early 2023, $2.6 million in initial funding, and future funding through 35% of future Moonbirds and Oddities royalties:
The founder of Trait Sniper, a rarity tool for NFTs, describes the company’s financial issues due to hacks and self-described poor financial management:
IlluminatiNFT DAO launches CryptoFace profile picture for Truth Labs Secret Society and 187 holders:
Community News
Controversial NFTi loan for a Bored Ape Yacht Club liquidated resulting in the lender receiving a Bored Ape token for 18.5 ETH:
Rare 0 trait CryptoPunk receives 400 ETH bid:
Quick Stats:
Opensea USD Daily Volume: $12.91M (▲ 11.64%)
Opensea ETH Daily Volume: 9,911 ETH (▲ 10.84%)
BTC: $20,095.26 (▲ 3.43%)
ETH: $1,349.73 (▲ 2.06%)
Solana: $34.29 (▲ 3.45%)
NFT Daily Winners:
CryptoPunks: 66.70 ETH (▲ 7.67%)
Azuki: 9.99 (▲ 3.08%)
Bored Ape Yacht Club: 78.25 (▲ 2.96%)
Clone X 6.59 (▲ 1.84%)
Doodles: 8.00 (▲ 0.63%)
Moonbirds: 10.00 ETH (◀► 0.00%)
VeeFriends: 5.15 ETH (◀► 0.00%)
Proof Collective: 43.00 (◀► 0.00%)
Chromie Squiggles: 11.20 (◀► 0.00%)
Mutant Ape Yacht Club: 13.50 (◀► 0.00%)
NFT Daily Losers:
DigiDaigaku 12.00 (▼ 7.69%)
Notes:
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Created by @AxuETH, @SSPxLEO, @SpeedyGonzale87, and @xhuewa