NiftyNoon: Is this NFT Pump a Dead Cat Bounce?

NFTs are seeing positive price action… but is it sustainable? (September 1, 2023)

Nifty Thought

• Although NFT floor prices have been recovering across the board, much of the market fundamentals have remained the same. There is still a declining number of daily active NFT buyers and overall shrinking liquidity in the ecosystem. Furthermore, many of the top projects are highly leveraged. With this in mind, it may be a wise move to solidify a bear market win and take profits. Although a select few NFT projects may see true returns to form eventually, it will be difficult for these NFT market headwinds to disappear any time soon.

Highlighted News

• Sam Spratt announces Monument Game winners:

  

  https://twitter.com/samspratt/status/1697324628778127680?s=61&t=9-PvDUjxlDjQkOzapJhBWg

• The large-cap PFP floor price index, led by the BAYC ecosystem, is now up 12% over the past week:

  

  https://twitter.com/punk9059/status/1697203288566005768

Project and Community News

• Person who won Monument Game but sold their ticket so someone else gets their prize:

  https://twitter.com/al_dezo/status/1697360158169419865?s=46&t=kG4nHa-LlCAThjpidKjfbw

• HV-MTL Forge alpha:

  https://twitter.com/tenaciouseth/status/1696519055497466275?s=46

• $ MEME tokenomics by @Memeland:

  https://twitter.com/Aizcalibur/status/1697278808599019534

• ParaSpace and Parallel Finance are merging and rebranding to create ParaX:

  https://twitter.com/paraspace_nft/status/1697106406619627588?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• DeGods Points Parlor v1.2 coming soon:

  https://twitter.com/degodsnft/status/1697153722307239989?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Torrent by @heyjeres, launching Sept. 6th at 1 PM EST:

  https://twitter.com/artblocks_io/status/1697312577087303784

• Everyone loves Breakdown:

  https://twitter.com/deekaymotion/status/1697225682525508019

• Zen Academy introduces The Holotech:

  https://twitter.com/zenacademy/status/1697295152963006493?s=61&t=UqtdCTiGGJ5lTQOCEIfpng

• Lufthansa's @Uptrip_app loyalty program building on Polygon to turn flights into rewards:

  https://twitter.com/0xpolygonlabs/status/1697161129208819771?s=61&t=ZN0_YIDH9ARrfdLAJX-aDg

• Refik Anadol will be the first artist to utilize exterior to debut an AI Data Sculpture created exclusively for Sphere:

  https://twitter.com/SphereVegas/status/1697294115283558405

• Chart showing supply of NFT ecosystem:

  https://twitter.com/waleswoosh/status/1697232037164339652?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

Quick Stats:

• Blur ETH Daily Volume: 4,349 ETH (▲ 18.79%)

• OpenSea ETH Daily Volume: 1,457 ETH (▲ 17.03%)

• BTC: $25,993.91 (▼ 4.66%)

• ETH: $1,647.10 (▼ 3.49%)

• Solana: $19.80 (▼ 4.72%)

• Polygon: $0.55 (▼ 5.69%)

NFT Daily Winners:

• 🦉 Moonbirds: 1.33 ETH (▲ 4.53%)

• 🌈 Doodles: 1.39 ETH (▲ 3.11%)

• ⛰️ Otherdeeds: 0.63 ETH (▲ 2.09%)

• ⛩️ Azuki: 4.45 ETH (▲ 0.16%)

• 🐧 Pudgy Penguins: 4.06 ETH (► 0.00%)

• 🐈‍⬛ VeeFriends: 1.69 ETH (► 0.00%)

NFT Daily Losers:

• 👩🏻 Milady Maker: 3.94 ETH (▼ 0.03%)

• 🚬 CryptoPunks: 48.20 ETH (▼ 0.51%)

• 🦧 Bored Ape Yacht Club: 27.89 ETH (▼ 1.62%)

• 🧬 Clone X: 1.43 ETH (▼ 1.81%)

• 🏴‍☠️ Captainz: 4.05 ETH (▼ 2.17%)

• 🧟 Mutant Ape Yacht Club: 5.50 ETH (▼ 3.51%)

• 🏳️‍🌈 Chromie Squiggles: 9.90 ETH (▼ 3.88%)

Notes:

• If you find quick daily NFT updates helpful, please feel free to subscribe:

• The content on this site is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice.

• Managed by @AxuETH, @NPapaellinas, @SpeedyGonzale87, @SSPxLEO and @xhuewa