NiftyNoon: Valhalla Mint Underwhelms Market
After tumultuous marketplace blocking, Valhalla settles at a floor price that is only slightly above its mint price (November 23, 2022)
Nifty Thought
Despite the incredible momentum and hype Valhalla had, moving into its mint, the project’s launch did not go as expected from a price action standpoint. At the time of this newsletter’s publication, the floor price is merely .71 ETH which is not significantly higher than the project’s mint price of .5 ETH. Although many will point to Valhalla being a project that is built for the long term, the short-term price action is simply a reflection of the market’s priced expectations for that long-term value. This is likely bad news for similar projects such as Juuni and ETHER that seem to cater to a similar demographic. Although those projects are likely not minting any time soon, the relative weakness of Valhalla and KPR, another similar project, suggests the market appetite for these NFTs is currently not that high.
Moving forward, it will be important to keep an eye on the Cockpunch NFT mint from Tim Ferriss. Given Tim’s mainstream appeal and large web2 audience, the success of his NFT will likely serve as a good barometer for the health of NFT mints overall.
Project News
Valhalla completes the first phase of its highly anticipated mint with the sales peaking at around 2 ETH before settling down to .7 ETH:
Proof releases Proof Collective Moonbirds backgrounds, collector profiles, and in-chain Moonbirds:
Read more about the Product updates you'll find in your Collector Profile today.Aside from putting @moonbirds in-chain today, there are a few notable updates to the https://t.co/mURfpMpp3a platform; more specifically the Collector Profile. Here are a few things you may see as you click around today. 🧵 https://t.co/i6xAbPvUM0
Justin Mezzell (🥃,🦉) @JustinMezzellMacy’s announces digital Thanksgiving Day Parade with Cool Cats, VeeFriends, and other notable projects with a chance for one project to win a balloon at the physical parade in 2023:
Community News
X2Y2 achieves higher volume than Blur after Cel Mates mint blocks Blur for royalty circumvention:
Jesse Powell, the highly celebrated founder of the crypto-native exchange Kraken, shares his thoughts on Proof of Reserves:
1/ I said I was going to be more assertive with calling out problems. This is one of them. "Reserves" = assets minus liabilities "Reserves" != list of wallets The Proof of Reserves AUDIT requires cryptographic proof of client balances and wallet control. web.archive.org/web/2017011411…CMC’s Proof of Reserves includes: 🔹The Total Asset 🔹Public Wallet Address Ownership 🔹Balance, Price & Value of Public Wallets 🔹Updated Every 5 Minutes! <2/5> https://t.co/92jPKhZwWS
CoinMarketCap @CoinMarketCap
Quick Stats:
OpenSea ETH Daily Volume: 7,446 ETH (▲ 20.21%)
Blur ETH Daily Volume: 2,275 ETH (▲ 73.00%)
BTC: $16,420.54 (▲ 1.29%)
ETH: $1,161.03 (▲ 2.44%)
Solana: $13.01 (▲ 8.76%)
Polygon: $0.84 (▼ 1.14%)
NFT Daily Winners:
DigiDaigaku: 7.93 ETH (▲ 7.92%)
Proof Collective: 29.99 ETH (▲ 7.88%)
Doodles: 6.75 ETH (▲ 4.57%)
Bored Ape Yacht Club: 60.00 ETH (▲ 4.35%)
Chromie Squiggles: 13.29 ETH (▲ 3.91%)
Moonbirds: 7.20 ETH (▲ 2.71%)
Clone X: 8.24 ETH (▲ 2.35%)
CryptoPunks: 62.95 ETH (▲ 1.55%)
Azuki: 9.75 ETH (▲ 1.04%)
Mutant Ape Yacht Club: 10.80 ETH (► 0.00%)
NFT Daily Losers:
VeeFriends: 5.39 ETH (▼ 4.94%)
Notes:
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