NiftyNoon: Memeland's Captainz Mints to Middling Results

The highly anticipated Memeland Captainz began secondary market trading with its floor price settling at around 5 ETH (January 9, 2023)

Nifty Thought

• Although Memeland’s Captainz was a very profitable trade for most people who have minted, its current 5.6 ETH floor price did not meet many people's expectations. This may be due to the project’s high royalty (9%) along with its operator filter that restricts trading on royalty-optional marketplaces. Because of this, secondary market buyers are instantly at a massive loss and can only recoup their initial investment if the project increases in value significantly. It is likely that a lower royalty would have resulted in a higher floor price due to increased interest from prospective secondary market buyers. However, it is unclear if this volume increase would have mitigated the decreased royalty from a project revenue perspective. The royalty balance and debate continues to wage on with Memeland Captainz serving as a very useful data point for the discussion moving forward.

• Many people previously speculated that Memeland Captainz would result in pullbacks across other collections as prospective buyers urgently looked for liquidity. Ultimately, this turned out not to be true, likely due to the reasons listed in the Memeland section above. Instead, secondary market participants turned to the collections that have been pumping since the year started. Notably, Azuki saw a sweep of 16 Azukis (almost 260 ETH) right before the Captainz airdrop. As both Bored Ape Yacht Club and Azuki ecosystem projects are expected to have new mints coming this week, there is likely still an opportunity for these projects to continue their ascent upwards. However, it is important to keep in mind that NFT leverage and speculation are nearing all-time highs. Historically, de-risking at times like these has generally been the safer option. Nonetheless, nothing written in these newsletters should be received as financial advice and all readers are urged to do their own research and form their own opinions.

Project News

• Captainz airdrop concludes with secondary price action peaking initially at around a 7 ETH floor price before settling at 5 ETH:

  Memeland @Memeland

  The Captainz airdrop is done! Refund is also enabled! Check your wallet and/or dashboard! 👉 memeland.com/dashboard Here are the official collection links for The Captainz: • OpenSea: opensea.io/collection/the… • X2Y2: x2y2.io/collection/the… AHOY! 🏴‍☠️

  

• Kevin Rose announces that PROOF has signed with United Talent Agency in an effort to grow the PROOF and Moonbirds brands:

  KΞVIN R◎SE (🪹,🦉) @kevinrose

  Today, we’re excited to announce that @proof_xyz has signed with United Talent Agency (@unitedtalent) – working together, we’ll be focused on partnerships that extend Moonbirds far beyond our existing Web3 audience, transforming Moonbirds into a global brand. 🧵... 1/4

• OpenSea announces Arbitrum Nova support and a new sweeping feature that allows users to simultaneously purchase multiple NFTs in a collection:

  OpenSea @opensea

  We’re excited to now support Arbitrum Nova! @arbitrum's chain dedicated to social and gaming!🎮 We’re also strengthening Nova’s ecosystem by joining the Data Availability Committee (DAC) to provide access to on-chain data and help ensure data accuracy 🤝

  

• Mastercard and Polygon announce a web3 artist incubator:

  Ryan Wyatt 💜 @Fwiz

  We're excited to announce that @0xPolygon is partnering with @Mastercard, one of the biggest financial payments providers in the world, and is launching a web3-focused incubator to help artists. Building mass adoption on Polygon continues. techcrunch.com/2023/01/06/mas… https://t.co/aHNmodT7Qc

  

• Killabears reveals their updated KillaVerse Quickstart:

  KILLABEARS 🐻 @killabearsnft

  Welcome to the #KillaVerse: Here is your New UPDATED KillaVerse Quickstart 🚀

  

Community News

• NFT community discusses increased loan activity amongst NFTs and its potential role in the current NFT bull run:

  ponz @ponzidope

  this NFT bull is probably partially fuelled by leverage @BendDAO's increase in collateral: - bend outstanding loans up 4k eth - fuelled by apes @arcade_xyz also seeing good adoption: - 5k eth in loans taken out in dec alone - perhaps popularized by @CirrusNFT?

  

  

  

  

• Community members discuss impact of high Memeland Captainz royalty fees:

  Konger.eth @konger_eth

  The moment you buy into @9GAG you're already down 11.5% (9% + 2.5% OS) if you want to sell. If you minted at 1e, you're happy, but what about the secondary buyers? Are the high fees are justified?

Quick Stats:

• OpenSea ETH Daily Volume: 10,157 ETH (▼ 34.73%)

• Blur ETH Daily Volume: 9,089 ETH (▼ 1.51%)

• BTC: $17,258.34 (▲ 1.91%)

• ETH: $1,319.62 (▲ 4.45%)

• Solana: $16.35 (▲ 21.33%)

• Polygon: $0.86 (▲ 7.74%)

NFT Daily Winners:

• Potatoz: 2.15 ETH (▲ 22.87%)

• Beanz: 1.93 ETH (▲ 10.29%)

• DigiDaigaku: 10.30 ETH (▲ 6.19%)

• Doodles: 7.08 ETH (▲ 1.49%)

• Pudgy Penguins: 6.60 ETH (▲ 0.76%)

• Chromie Squiggles: 17.09 ETH (► 0.00%)

• Clone X: 5.72 ETH (► 0.00%)

• VeeFriends: 4.50 ETH (► 0.00%)

• Proof Collective: 37.00 ETH (► 0.00%)

• CryptoPunks: 66.88 ETH (► 0.00%)

NFT Daily Losers:

• Moonbirds: 9.17 ETH (▼ 0.23%)

• Azuki: 13.99 ETH (▼ 1.69%)

• Bored Ape Yacht Club: 80.00 ETH (▼ 1.83%)

• Mutant Ape Yacht Club: 18.57 ETH (▼ 2.26%)

Notes:

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