🦧 Yuga Labs Shakes the NFT Space Up.... Again 🦧
Yuga rolled out their skill-based and blew past expectations
Yuga Labs once again took the NFT space by storm this week with the successful roll-out of Dookey Dash, the first skill-based mint experience. While all eyes may have been on the biggest player in the space, there was an abundance of hidden gems this week that rewarded active market participants who paid attention in a big way.
Top stories this week:
Yuga dominates market share amidst Dookey Dash launch
Porsche cuts mint short after sub-par entrance into Web 3
Pudgy Penguins hint at an upcoming expansion
BAYC ecosystem assets have done nearly 50% of total ETH NFT volume over the past week.
(includes BAYC, MAYC, BAKC, BACC, Otherdeed, Sewer Passes) https://t.co/4Bk5TEOqHj
— NFTstatistics.eth (@punk9059)
Jan 23, 2023
Over the last seven days, Yuga assets have dominated market share in a way that they haven't since the week of the Otherside mint. The wildly successful launch of Sewer Passes, a free claim for all MAYC and BAYC holders, has resulted in nearly $2M in royalties alone, along with another $1M in $APE boosts spent on the newly released Dookey Dash game.
The next phase of the mint process relies heavily on the scores that holders get while playing Dookey Dash. Naturally, this has led to an explosion of demand for talented gamers, and there is now an extremely lucrative market that has propped up for those on the hunt for gamers that are willing to boost their scores. As of now, the market rate for to get your score boosted to 400k (a top 100 spot at the time of writing) is 4 ETH!
Yuga has confirmed in their discord that boosting is not against their terms, and have encouraged those that are going to partake to use sites like warm.xyz and delegate.cash to safely delegate permissions to gamers without giving them access to the Sewer Pass itself.
Open editions continued to remain hot, with drops like Nyan Balloons and "Defy" doing multiples since their release. Usually, towards the back end of these mini NFT cycles, open editions tend to catch on and do better than they typically would. It's fun while it lasts, but it's worth staying wary of this trend as they usually act as a sign of things to come...
Things that worked:
Sewer Passes - The latest Yuga drop has climbed from 1.2E to 2.8E after successful rollout of Dookey Dash
Nyan Balloons - Open edition that minted for .007E and rose to as high as .15E after burning mechanism kicked off
"Defy" Proceed With Caution by Des Lucrece - Another open edition that minted for .06E and has steadily climbed to as high as 0.3E
BAKC - Sewer Pass claimers rushed to sell their dogs on claim day pushing the floor to as low as 5.7E, they've since recovered to 7.5E
Alpha Sharks - Ran from 0.2E to 0.35E after teasing a future airdrop and releasing plans to launch an NFT marketplace
Toshies - Minted for 0.0369E and opened up at 0.25E on secondary
Porsche Drops the Ball With Overpriced NFT Launch
Porsche revealed their head-scratching 0.911E mint price early last week after spending a measly two months building their web 3 community. The company aimed to sell a total of 7500 NFTs for a whopping total of $11m but only managed to sell around 15% of that before realizing that they had made a mistake.
Crazy sequence of events w/ @eth_porsche
- Tweet on supply cut & stopping mint
- FP swells by .3 ETH
- Everyone realizes mint is still open
- Everyone mints #NFTs & sell immediately
- FP returns to mint price
- Porsche for selling ~160 NFTs in <1 hour
- Shrewd traders https://t.co/p1Kch1OrLH
— metaversatile.eth (@metaversatile_)
Jan 24, 2023
Pudgy Penguins Are Expanding!
Expansion starts soon. Are you ready? https://t.co/P2feZCno7M
— Pudgy Penguins (@pudgypenguins)
Jan 22, 2023
The cutest creatures on the blockchain will soon be expanding with what many are speculating to be an upcoming airdrop for current Pudgy Penguin holders. Founder Luca Netz has made it clear that he wants to make Pudgy Penguin NFTs the "first edition Pokemon cards" of the next century, but to do that he'll need to get Pudgies in the hands (or in this case, wallets) of a few hundred million more people.
So far, there hasn't been much released outside of a couple of cryptic tweets on Twitter, but this story will be one to monitor closely over the coming weeks as Pudgies are primed to make their next step and solidify themselves as one of the most established projects in the space.
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