NiftyNoon: Is Grail Generative Art the Best Bear Market Investment?

While profile pictures continue to see floor prices trend down, generative art seems to be holding more steady (July 12, 2023)

Nifty Thought

• Although profile picture NFTs have seen highly volatile prices recently, more art oriented NFTs have benefited from relative price stability. Part of this is due to the fact that most collections from ArtBlocks, the leading generative art platform, are not available on Blur and therefore do not have people that are only bidding, lending, and dumping to earn Blur bid points. However, another driver of this price stability is the lower overall volume for the collection due to less people wishing to sell the pieces. This is likely a result of many people owning generative art simply because they wish to own and collect it. The desire to quickly flip these art NFTs seem to be lower across the board.

• Although this may look enticing to prospective buyers that cannot keep up with the volatility of profile picture collections, some risks still remain. This current fragile balance could easily be broken with the introduction of Blur to these collections that will suddenly usher in a new wave of highly motivated sellers. In the long run however, the narrative and cultural impacts of these collections may allow them to be more durable. It is no secret that the NiftyNoon team is particularly fond of collections such as CryptoPunks and Chromie Squiggles.

Highlighted News

• Flamingo is now one of seven with a full Autoglyphs set, one of the most coveted and difficult sets to obtain:

  

  https://twitter.com/flamingodao/status/1678438539695120384?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

Project and Community News

• OpenSea API announces New OpenSea SDK Functions and Multichain Support:

  https://twitter.com/apiopensea/status/1678506505170223104?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• TGK (@ThGoodKnight) reclaims possession of Cool Cat #6455 (The Good Knight):

  https://twitter.com/thgoodknight/status/1678564300603138048?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Refik Anadol announces new NFT art collection- Winds of Yawanawa:

  https://twitter.com/refikanadol/status/1678772820044845056?s=46&t=S3tWLe1gYvPrX7bvyumIQQ

• Arkhamintel shares an FAQ to answer most common questions:

  https://twitter.com/arkhamintel/status/1678761742082662401?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Fallen Angel by @IDerech breaks the highest edition sale record on Foundation:

  https://twitter.com/iderech/status/1678726369096908800?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• CEO & Co-Founder of KillaBears introduces introduces KILLA DINKS:

  https://twitter.com/mr_benft/status/1678813297662107648?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Station3NYC NFT mint sold out:

  https://twitter.com/station3nyc/status/1678810612812349445?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Which high profile figures are rocking pudgies as pfps:

  https://twitter.com/0xjaypeg/status/1678733860551667715?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Some top PFP sales, past 24 hours: 1) Captainz: alien: 42.069 ETH 2) DeGods: Mythic helmet: 55.166 ETH 3) Azuki Elementals: ? Type: 27.55 ETH 4) Pudgy Penguin: Gold Kimono: 11 ETH

  https://twitter.com/punk9059/status/1678750151312125955?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

Quick Stats:

• OpenSea ETH Daily Volume: 1,588 ETH (▼ 0.81%)

• Blur ETH Daily Volume: 7,593 ETH (▼ 8.09%)

• BTC: $30,751.94 (▲ 1.17%)

• ETH: $1,888.73 (▲ 1.16%)

• Solana: $22.12 (▲ 0.51%)

• Polygon: $0.74 (▲ 0.12%)

NFT Daily Winners:

• 🚬 CryptoPunks: 50.44 ETH (▲ 4.24%)

• 🥔 Potatoz: 1.61 ETH (▲ 3.87%)

• 🏳️‍🌈 Chromie Squiggles: 9.65 ETH (► 0.00%)

• 🥃 Proof Collective: 6.69 ETH (► 0.00%)

• 🧝🏼‍♀️ DigiDaigaku: 3.00 ETH (► 0.00%)

• 🐈‍⬛ VeeFriends: 1.82 ETH (► 0.00%)

NFT Daily Losers:

• 🌈 Doodles: 1.64 ETH (▼ 0.06%)

• 🦧 Bored Ape Yacht Club: 34.20 ETH (▼ 0.26%)

• 🦉 Moonbirds: 1.78 ETH (▼ 0.67%)

• 🐧 Pudgy Penguins: 3.85 ETH (▼ 0.80%)

• 🧬 Clone X: 1.77 ETH (▼ 1.06%)

• 🧟 Mutant Ape Yacht Club: 6.62 ETH (▼ 1.15%)

• ⛩️ Azuki: 6.83 ETH (▼ 1.85%)

• 🏴‍☠️ Captainz: 5.07 ETH (▼ 6.99%)

Notes:

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