This NFT Weekly Recap is provided solely for informational purposes and does not constitute investment advice. People are still depressed and uncertain, and the market is flat with little significant change. However, We observe that the wave of NFTs is beginning to increase. Let’s take a look at on-chain data and some important news with Coincu.
Network Growth
Total Marketcap
According to statistics from NFTGo.io, the total market cap of NFTs has been continuously increasing from 23.6B and 24.6B during this week, which is equivalent to a $300M increase (up +2.14%) from last week.
Total volume
The trading volume trend is neutral. Total volume was at or above 80,234 ETH ($132,386,100). On a weekly basis, volume is down 2% with $2,650,000 from last week.
Total Transaction
This week, The total transactions of NFTs are 421,810 transactions with an average daily transaction of 60,259 transactions, down -12% from last week. This is a remarkable growth rate with many projects having low floor pricing.
Users Trend
From July 4th to July 10th, there were about 237,317 users, down -6.73% from the previous week. This index tends to decrease further and the number of active wallets decreased by more than 5,03% with 348,064 wallets.
Highlight Events
NFT Worlds to Develop Game after Minecraft Rejects NFTs
NFT Worlds received a kick in the teeth with Minecraft’s sudden announcement that NFTs are a ‘no no’ on their platform. Many say the announcement showed a total disregard for all Web 3 games currently being developed on Minecraft. It was launched in October 2021, is one such game. The Web3-based games’ plans are upended. However, the company vows to continue.
A statement by the company speaks of their contingency plans and a larger battle within the gaming space. The statement pulls no punches regarding large tech corporations. It reads;
“Make no mistake. This is a web2 vs web3 battle. It is a battle between two different visions of the future of the web: one that prioritizes shareholder value and profit margins above all else and one that prioritizes the spirit of innovation through independent creators”.
For more information: click here
Miami NFT Collection with TIME, Mastercard and Salesforce
The city of Miami has partnered with Time, Mastercard, and Salesforce to launch a collection of 5000 NFTs created by local artists. Mayor Francis X Suarez’s announcement continues Miami’s love affair with the emerging new technologies of Web3 and NFTs. The Miami collaboration with Mastercard and Salesforce aims to generate income for local businesses and non-profits within the Miami city limits. NFT holders will gain access to exclusive reward offerings.
The project will use 56 local Miami artists to make 5000 unique NFTs representing the 56 square miles that incorporate Miami and Miami Beach. Each artist will fashion NFTs representing each square mile of the city limits.
Lucky holders of the NFTs will gain entry to Mastercard’s Priceless Miami program. This exclusive program entitles the holder to unparalleled experiences in the city, including organized culinary experiences at some of the city’s premier restaurants. Other utilities include private tours of prestigious Miami cultural institutes such as art galleries.
For more information: click here
Notorious B.I.G. NFT Collection Sells Out
The long-awaited Notorious B.I.G digital collection “Sky’s The Limit” dropped and sold out on Tuesday. The hip-hop legend’s estate, The Christopher Wallace Estate, chose the NFT market, Oneof, for the NFT collection of 3000 3D avatars to honor Biggie’s enduring legacy.
The official drop sold out in 10 minutes. You can still purchase the NFTs on the secondary market on the Oneof platform. The collection of generative art pieces depicts his authentic street style and lyrics. As of writing, the floor price is $114 with 1161 owners and 683 listings. And OMG, it includes a surprising utility for up-and-coming rap artists!!!
For more information: click here
Samsung Launches ‘Space Tycoon’ As Metaverse Contributions Continue
Samsung has joined the ranks of other big tech companies by creating a new metaverse gaming playground entitled “Space Tycoon”. The South Korean tech giant continues to pour money into the meta-space. Some see the move as somewhat of a surprise after a string of related activities just weeks ago.
Built inside the metaverse platform of Roblox, the game offers users multiple options in terms of experiences and development. For example, gamers can make their own Samsung products and use them to communicate with others in this virtual environment.
Geared mainly to the Gen Z crowd, Samsung said Tycoon would offer “Gen Z a new playground that they have never experienced before”. That statement came from Jinsoo Kim, Vice President of Samsung Electronics Corporate Design Center.
For more information: click here
Verdict
The NFT market recently began to heat up once more after a number of recently announced projects with strong price rise. In addition, the above data indicates that there is a lot of good news and that awareness of NFT is growing. Crypto winter has arrived, it’s also time to purge projects. Good projects stay and bad projects go. Everything is just beginning.
If you have any questions, comments, suggestions, or ideas about the project, please email [email protected].
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.
Ares
Coincu Ventures
