NiftyNoon: Community Cats
For October 6, 2022
Nifty Analysis
Animoca Brands, through its ownership of The Sandbox and affiliation with The Otherside from Yuga Labs, has gained quite a bit of goodwill within the web3 and NFT community. Their strategic investment in Cool Cats is a strong endorsement of the brand in the long term. While the circumstances of the raise (i.e. amount invested and post-money valuation) were not made public, it is likely that the dollar amounts are far lower than those we have seen with other NFT projects (investments of tens of millions of dollars at valuations approaching one billion dollars). Nonetheless, this strategic partnership shows that the Cool Cats team is here for the long haul, which was great news for the otherwise struggling NFT project.
The Bored Ape Yacht Club community council is an excellent move. Yuga’s greatest successes have come when it has openly listened to its community and focused on delivering value back to them. As the leadership team begin to grow the company and expand into new ventures, it is natural that they will have less time to read Twitter and Discord. Engaging the collection’s top members as community ambassadors both keeps them loyal to the Bored Ape Yacht Club brand and enables the leadership to still understand holder perspectives from the grass roots level. Given how central communities are to an NFT’s value proposition, community understanding is undeniably crucial. Even X2Y2 has reached out to its community for feedback to guide its future decisions. This is likely a trend that will continue with projects hoping to remain successful for the long term.
Project News
Cool Cats announces strategic investment from Animoca for an undisclosed amount:
In line with recent royalty controversies, the X2Y2 NFT marketplace is polling its community on whether it should enable mandatory royalties for the CoziesOfficial collection. The implication here is that X2Y2 may consider re-enabling mandatory royalties for other collections in the future:
Bored Ape Yacht Club announces community council to help provide feedback for the long term:
Fontana, an Art Blocks Curated Project minted out with a median mint price of roughly 0.48 ETH:
Community News
Famous ThreeArrowsCapital multi-million dollar NFT vault moves assets to new wallet:
CryptoPunk Hoodie purchased for 225 ETH:
Quick Stats:
Opensea USD Daily Volume: $11.70M (▲ 3.41%)
Opensea ETH Daily Volume: 8,821 ETH (▲ 3.68%)
BTC: $20,005.77 (▲ 0.85%)
ETH: $1,355.90 (▲ 2.64%)
Solana: $33.74 (▲ 1.36%)
NFT Daily Winners:
Cool Cats: 4.30 (▲ 29.41%)
Mutant Ape Yacht Club: 14.80 (▲ 9.63%)
VeeFriends: 5.39 (▲ 4.66%)
Clone X 7.20 (▲ 4.58%)
Moonbirds: 10.30 (▲ 4.04%)
Proof Collective: 43.00 (▲ 2.38%)
Azuki: 10.00 (▲ 2.02%)
CryptoPunks: 66.70 (▲ 0.74%)
Bored Ape Yacht Club: 78.00 (▲ 0.30%)
DigiDaigaku 12.75 (◀► 0.00%)
NFT Daily Losers:
Chromie Squiggles: 10.60 (▼ 3.20%)
Doodles: 7.84 (▼ 0.52%)
Notes:
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