Key Takeaways

• Leading NFT marketplace OpenSea announced its migration to Seaport Protocol, which aims to cut down gas fees by 35% and is estimated to save users up to 138,000 ETH in total. This will replace its less-efficient Wyvern protocol and will host new features such as bulk listing feature (list multiple NFTs for sale and only pay for one gas fee), as well as adding more than one payout address for sales and royalties in the future.

• Blockchain analytics platform Nansen recently launched Nansen Connect, its very own Web3 messaging app. Currently in beta, this new platform is touted to rival Discord to become the main chat app for NFT and crypto communities. 

• NFT.NYC 2022 is the biggest event to date this year for NFTs, bringing together some of the biggest artists, builders, and sponsors in the space. Dubbed as the “CES (Consumer Electronics Show) for NFTs”, this 4-day annual industry event hosts a series of panels, workshops, pop-up galleries, and innovative showcases curated for NFT traders and enthusiasts.  

• LooksRare recorded -5% and -9% decreases in sales and transactions, respectively. OpenSea‘s sales and transactions were also negative, at -85% and -84%, respectively.

Crypto.com NFT in the Spotlight

• Calling NFT traders and creators: All collectors and creators can continue to enjoy a reduced service fee of 1.99% for sales of collectibles on Crypto.com NFT. This promo ends 30 September 2022. 

• Asian musician/artist Jay Chou and Paris Saint-Germain Football Club are proud to announce the launch of “Tiger Champs”,  a unique collection of 10,000 algorithmically generated Tiger Champs NFTs, celebrating PSG’s 10th championship win. Buy the drop to become a part of its community and unlock unique experiences and exclusive rewards with the ‘Mandapop King’ Jay Chou and PSG. 

Highlights

• OpenSea upgrades its auto-hide function to better protect its users

• Goblintown team doxxed: Their true identities are weirder than expected

• APE has suffered the most among CoinMarketCap's Top 100 amid Bill Gates' NFT criticism and security concerns

• Immutable’s NFT bridge Arch v.10 to connect L1 Ethereum with L2 Starknet

• Artists can now showcase NFTs remotely at the Web3 NYC gallery

• NFT Cloud – The new Web3 platform from Salesforce

• Wimbledon to celebrate 100 years with NFT collection

• Lacoste launches “UNDW3” NFT community

• Fox invests $100M in NFT TV shows

• Romania issues plans to store government documents as NFTs

• CryptoPunk sale raises $100K in Ethereum to support Ukraine war effort

• TAG Heuer wants you to wear your Bored Ape on your wrist

• OpenSea sees its lowest monthly trading volume since July 21

Transaction Volume Benchmark

Sources:

Magic Eden data refer to the on-chain activity of the tracked smart contracts.

LooksRare, OpenSea, and Coinbase data are retrieved from Dune Analytics.

X2Y2, NBA Top Shot, and Magic Eden data are retrieved from DappRadar.

Solanart data are retrieved from Solanart.io.

Notes:

1. Year-to-Date (YTD) volume is calculated from the first day of the current year to the current date.

2. Week-on-Week (WoW) % change is calculated based on the differences between two subsequent seven-day periods.  

3. Transaction count and average price refer to the number of traders and average price over the past seven days, respectively.

4. LooksRare was launched on 10 January 2022.

5. X2Y2 was launched on 16 February 2022.

Top Collectibles

* Source: CryptoSlam.io

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

Upcoming NFT Sales

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

Project Name: 7LuX
Sale Date: 07 Jul 2022
Price: 1 (ETH)
Items: 20,000
Market Cap: 20,000 (ETH)

Project Name: Shibacademy NFT Game
Sale Date: 30 Jul 2022
Price: 1.5 (SOL)
Items: 8,888
Market Cap: 13,332 (SOL)

Project Name: Millenabots
Sale Date: 02 Jul 2022
Price: 3.00 (SOL)
Items: 9,999
Market Cap: 29,997 (SOL)

Project Name: Sol Coin Collections
Sale Date: 25 Jun 2022
Price: 1 (SOL)
Items: 7,000
Market Cap: 7,000 (SOL)

Project Name: The Hatman NFT
Sale Date: 30 Jun 2022
Price: 4 (SOL)
Items: 666
Market Cap: 2,664 (SOL)

* Sources: Rarity Tools, Crypto.com 

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: Loaded Lions
Sales Volume (USD): $184,800

Platform: Magic Eden
Artist: Primates
Sales Volume (USD): $5,544,328

Platform: OpenSea
Artist: CryptoPunks
Sales Volume (USD): $23,254,221

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

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