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 23.9B and 24.3B during this week, which is equivalent to a $35M increase (up +0.16%) from last week.
Total volume
The trading volume trend is volatility. Total volume was at or above 86,460 ETH ($151,305,000). On a weekly basis, volume is up 14.29% with $18,918,900 from last week.
Total Transaction
This week, The total transactions of NFTs are 450,509 transactions with an average daily transaction of 64,358 transactions, up 6.80% from last week. This is a remarkable growth rate with many projects having high floor pricing.
Users Trend
From July 4th to July 10th, there were about 221,818 users, down -6.53% from the previous week. This index tends to decrease further and the number of active wallets decreased by more than 3,88% with 334,541 wallets.
Top Gainers and Losers
Highlight Events
a16z Leads VeeFriends’ $50 Million Seed Funding Round
Gary Vee’s flagship Web3 endeavor, his very own VeeFriends NFT project, has raised $50 million in a recent seed funding round which was led by Andreessen Horowitz (a16z). The new injection of funds will primarily be used to support the development of the IP of the project’s 283 VeeFriends characters, however in addition, the money will also be used to scale VeeFriends’ creative, technical, and experimental operations.
For now, it remains undisclosed as to whether or not there were any other participants in the round, or whether a16z were the sole contributors. In speaking on the round, Chris Lyons, a general partner at a16z, had this to say:
“Not only is Vee Friends an exciting NFT project, it also provides offline and in-person utility through curated experiences like VeeCon, which brought over 7,000 NFT ticket holders together for a week of informative conversations on web3, live music, and networking. VeeFriends represents the ethos of entrepreneurship, and we’re humbled by the opportunity to support Gary and the VeeFriends community on this journey”.
For more information: click here
Gucci Goes APE: Luxury Brand Adds Bored Ape Yacht Club Token as Payment Option
Gucci’s expanding crypto payments support comes via a partnership with BitPay, which was revealed in May. Today, BitPay announced that it has added ApeCoin and Euro Coin (EUROC) to its platform, with Gucci the first retailer to bring ApeCoin support to certain U.S. boutiques. It’s “yet another step in the House’s exploration of Web3”, Gucci tweeted this morning. The brand did not immediately respond to a request for comment from Decrypt about why it added ApeCoin, as well as how its crypto initiative has performed to date.
In May, Gucci revealed in an interview with Vogue Business that it would begin accepting top coins like Bitcoin, Ethereum, Dogecoin, Shiba Inu, and Litecoin at select stores. Payments are made by scanning a QR code with a crypto wallet via BitPay’s service. The luxury brand has made other plays in the Web3 space this year, as well. In January, Gucci partnered with vinyl toy maker Superplastic to launch collaborative NFTs, and then revealed a Gucci Vault location that will be part of the Ethereum metaverse game, The Sandbox. The brand has collaborated with NFT art platform SuperRare on digital exhibitions, as well.
Gucci also worked with 10KTF, a pseudonymous “digital tailor” who creates apparel designs that can be placed atop popular profile picture projects like the Bored Ape Yacht Club, Cool Cats, World of Women, and CrypToadz.
For more information: click here
Crypto Firm Chiliz Nabs $100M Stake in FC Barcelona’s Digital Studio
FC Barcelona, one of Europe’s most prestigious football clubs, announced a multi-million euro partnership with Socios.com, the blockchain-based sports fan engagement platform. Socios.com’s owner and technology provider, Chiliz, will invest €100 million (~$102 million) to acquire nearly a quarter of Barça Studios, which manages the club’s audiovisual productions and digital business offerings.
The investment comes after Socios.com began collaborating with the club back in February of 2020 with the launch of FC Barcelona’s “fan token” called BAR. According to a press release from Socios.com, the investment will enable the club to build better NFT and metaverse projects, while being able to refine its approach to engaging with fans and building community through the use of digital assets. The partnership intends to create opportunities for the use of BAR tokens that extend beyond Socios.com’s platform.
For more information: click here
Ledger’s First NFT Collection Sells Out in Less Than 24 Hours
Ledger, the creators of Web3’s leading cold wallet, recently sold out their first ever non-fungible token (NFT) collection in just under 24 hours. Titled “[Ledger] Market Passes — Genesis Edition,” the collection consisted of 10,000 unique digital assets priced at 0.3 ETH each.
The NFTs were created on the Ledger Market, a platform that enables brands and creators to drop NFT collections and provides users with a safe platform to buy and sell NFTs. Users can only access the market through Ledger Live, a secure virtual environment. Ledger aims to give its community the safest way to purchase and store digital assets in both the digital and physical realm. With the purchase of an NFT token from the new collection, owners receive a Ledger Black-On-Black Nano X cold storage device, which can be used to store cryptocurrency and NFTs securely. Access to future NFT drops is also included for holders of a Market Pass NFT.
Furthermore, collaborations with RTFKT and LVMH are rumored to be in development, and new NFT coins from DeadFellaz and TAG Heuer are expected to be offered on the platform soon. The new Ledger Market Pass NFTs are now available for secondary purchase on the most popular open NFT marketplace OpenSea. Their current floor price is 0.47 ETH. Ledger will receive a 7.5 percent commission fee for each secondary sale.
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. 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
