NiftyNoon: Will an NFTfi Airdrop and Increased NFT Loan Liquidity Pump NFTs?

Subtitle (April 27, 2023)

Nifty Thought

• The much-anticipated NFTfi airdrop is coming, with its points system already live. For many people, this has been a long time coming, and some are even speculating that this may lead to positive NFT price action similar to what was seen following the Blur airdrop. Pragmatically, the fully-diluted market cap for an NFTfi token is likely to be meaningfully smaller compared to the fully-diluted market cap for $BLUR.

• Blur both served as a catalyst that shook up the entire NFT ecosystem as we know it, and had the benefit of its investor Paradigm promoting the launch to non-NFT airdrop farmers that come from the decentralized finance (DeFi) world. This resulted in an increase in total liquidity for the NFT ecosystem, as Blur essentially brought new capital in. NFTfi has some notable investors, such as Kleiner Perkins and Animoca, but it seems unlikely they will be able to replicate Blur's ecosystem impact and liquidity injection.

• With that being said, the injection of new capital through increased lending may have a positive short-term impact on prices. Increased leverage could augment new buying pressure in the market if people are taking out NFT-secured loans to purchase more NFTs. If NFTfi lending sees a substantial rise in usage due to this airdrop, it is likely that NFT prices will increase before eventually crashing down when loans become due.

Highlighted News

• NFTfi introduces NFTfi Rewards: The loyalty program for NFT lovers, with fi OGs having 20 days (now) to secure OG Points:

  

  https://twitter.com/NFTfi/status/1650847633819197448

• Blur shares that all cheaters, withdrawing their bids as soon as they are about to get accepted, to farm points without the risk of buying the assets, will be filtered from Season 2:

  

  https://twitter.com/blur_io/status/1651195609490272256

Project and Community News

• Bored Ape Yacht Club share Gary “future” sketches:

  https://twitter.com/boredapeyc/status/1650952925642911773?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Only 1 Koda sale has taken place within 24 hours:

  https://twitter.com/kodasalesbot/status/1651224750671183873?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Blur users report others for abusing the points system:

  https://twitter.com/burnfiat4jpegs/status/1651148857340731396?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Doodles share early beta access to enter The Stoodio, your new home for the Doodles experience, opens on April 28th:

  https://twitter.com/doodles/status/1651244916943769600?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• First 7 items from the 3AC collection will auction at Sotheby's on May 19th:

  https://twitter.com/0xrodo/status/1651159788116402177?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Moonbirds remind holders that after midnight PST, Day One Mint Passes will no longer work as a “choice pass” and will transform into a standard mint pass to claim Diamond Exhibition artwork:

  https://twitter.com/moonbirds/status/1651407133660045313

• Coinbase shares commemorative NFT featuring a blue shield, representing collective stand to protect and promote the potential of crypto:

  https://twitter.com/coinbase/status/1650612986980048897

• Over the past 1.5 months one person has created 114 meme coin scams:

  https://twitter.com/zachxbt/status/1651238822963826694?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• NFTfi introduces NFTfi Rewards: The loyalty program for NFT lovers, with fi OGs having 20 days to secure OG Points:

  https://twitter.com/NFTfi/status/1650847633819197448

  https://twitter.com/NFTfi/status/1651285290642702337

• Ralph Lauren translates his iconic designs into a bold digital wardrobe:

  https://twitter.com/ralphlauren/status/1651299325631135748

• NBA Top Shot App now available, for a limited time only during the 2023 NBA Playoffs:

  https://twitter.com/NBATopShot/status/1651014889542938625

Quick Stats:

• OpenSea ETH Daily Volume: 2,375 ETH (▼ 10.78%)

• Blur ETH Daily Volume: 7,459 ETH (▼ 11.72%)

• BTC: $28,977.81 (▼ 0.06%)

• ETH: $1,883.49 (▼ 1.68%)

• Solana: $21.67 (▼ 3.57%)

• Polygon: $0.99 (▼ 4.1%)

NFT Daily Winners:

• 🥃 Proof Collective: 9.09 ETH (▲ 9.65%)

• 🦉 Moonbirds: 2.68 ETH (▲ 8.56%)

• 🥔 Potatoz: 3.09 ETH (▲ 4.55%)

• 🚬 CryptoPunks: 50.89 ETH (▲ 2.97%)

• ⛩️ Azuki: 14.80 ETH (▲ 2.14%)

• 🐧 Pudgy Penguins: 4.07 ETH (▲ 2.01%)

• 🏳️‍🌈 Chromie Squiggles: 9.00 ETH (▲ 1.12%)

• 🏴‍☠️ Captainz: 7.72 ETH (▲ 0.32%)

• 🦧 Bored Ape Yacht Club: 50.49 ETH (▲ 0.20%)

• 🌈 Doodles: 2.27 ETH (▲ 0.11%)

• 🧟 Mutant Ape Yacht Club: 10.74 ETH (► 0.00%)

• 🐈‍⬛ VeeFriends: 2.33 ETH (► 0.00%)

NFT Daily Losers:

• 🧬 Clone X: 2.88 ETH (▼ 0.03%)

• 🧝🏼‍♀️ DigiDaigaku: 3.55 ETH (▼ 1.06%)

Notes:

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