Key Takeaways

• Goldman Sachs said it is exploring the use of non-fungible tokens (NFT), particularly the tokenisation of real assets. The global investment bank is looking into NFTs in the context of financial instruments, believing that is where the power is.

• Leading NFT marketplace OpenSea has started accepting ApeCoin (APE) as a payment method. APE, the main token for the Bored Ape Yacht Club ecosystem, is now 22nd in the top cryptocurrency rankings based on market capitalisation.

• Angel City FC has announced the launch of its first NFT collection, the ACFC Inaugural Fan Pass Collection, in partnership with club founding partner Crypto.com. 

• LooksRare recorded -16% and -7% decreases in sales and transactions respectively. OpenSea recorded a +26% increase in sales and a -30% drop in transactions.

Crypto.com NFT in the Spotlight

• Tattoo artist Jesse Smith created a fictitious continent called ‘Carkayous’ in 2009 to contain all of his tattoos and art. The next adventure on the docket is to Durken Forest (Expedition 8 - "The Blooming of the Psilofish"), where we will explore a massive tattoo artist mega collaboration led by him. Each artist brought life to their own creature living in this forest.

• UFC® has partnered with Crypto.com to release a seventh NFT collection, featuring fighters from the ‘UFC 274’ event. Taking place at Footprint Center in Phoenix, Arizona on 7 May 2022, it is headlined by Oliveira vs Gathje for the Lightweight Championship title, and Namajunas vs Esparja for the Women's Strawweight Championship title.

Highlights

• Ethereum user spends US$44,000 in gas fees to mint Bored Ape ‘Otherside’ NFTs

• ApeCoin (APE) hits a new all-time high ahead of this week’s Otherside land auction

• Yuga Labs sees US$561M in Otherside Ethereum NFT sales within 24 hours

• Okay Bears NFTs record sellout help Solana net US$2B in sales

• NFTs emerge as a portfolio saver amid crypto market downturn

• NFT market’s total trading volume tops US$55B

• MoonPay to provide crypto-processing for OneOf 'green' NFTs

• BAYC's 24-H volume exceeds US$52M; floor price hits record high of 150 ETH

• K11 MUSEA holds a large-scale NFT art exhibition

• SuperRare to open curated NFT gallery in New York City

• VanEck announces launch of community NFT, first NFT

• Crypto exchange Kraken to roll out NFT marketplace

Transaction Volume Benchmark

* Week-on-Week (WoW) % change is calculated based on the differences between two subsequent 7-day periods.
* Year-to-Date (YTD) volume is calculated from the first day of the current year to the current date.

* Transaction count & average price refers to the number of traders and average price of the 7-day period.

* CoinBase NFT is currently available to a small group of people only

LooksRare launched on 10 January 2022

* X2Y2 launched on 16 February 2022

* Magic Eden data refers to on-chain activity of the tracked smart contracts

* LooksRare, OpenSea data from Dune Analytics

* X2Y2, NBA Top Shot, Magic Eden data from DappRadar

* Solanart data from Solanart.io

Top Collectibles

* Collectibles data from CryptoSlam.io

The following chart shows selected top NFTs and their historical floor prices.

Upcoming NFT Sales

The following information shows top upcoming NFT sales and a sample of their art.

Project Name: Xkart Racing
Sale Date: 22 May 2022
Price: 2.0 (AVAX)
Items: 5,000
Market Cap: 10,000 (AVAX)

Project Name: Country Ape Squad
Sale Date: 1 Jun 2022
Price: 0.3 (ETH)
Items: 10,000
Market Cap: 3,000 (ETH)

Project Name: Awkward Dragons
Sale Date: 5 May 2022
Price: 1.05 (SOL)
Items: 4,888
Market Cap: 5,132 (SOL)

Project Name: VALFRÉLANDIA
Sale Date: 5 May 2022
Price: 0.12 (ETH)
Items: 10,000
Market Cap: 1,200 (ETH)

Project Name: Thicc Frens
Sale Date: 8 May 2022
Price: 0.06 (ETH)
Items: 5,555
Market Cap: 333.3 (ETH)

Top Artists

The following information shows selected top artists (by sales volume on each platform) and a sample of their art.

Platform: Crypto.com NFT
Artist: Bull Run Crew
Sales Volume (USD): $1.4M

Platform: Solanart
Artist: Degenerate Ape Academy
Sales Volume (USD): $15,863

Platform: OpenSea
Artist: Otherdeed for Otherside
Sales Volume (USD): $565,754,266

Thank you for reading! We hope you find our Weekly NFT Update enlightening!

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