This NFT Monthly 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 9.3M to 11.2M $ETH during this month. From 19th to 21st, it suddenly peaked with 11.2M $ETH.

Total volume

The trading volume trend is sideway. Total volume was at or above 286,000 ETH.

Total Transaction

This month, The total transactions of NFTs are above 4,000,000 transactions with an average weekly transaction of 1,000,000 transactions. This is a remarkable growth rate with many projects having high floor pricing.

Users Trend

Users and Wallets index tend to increase further with 1,050,000 users and above 1,700,000 wallets.

Highlight Events

Azuki creator closes in on $30 million fundraise

Chiru Labs, the Los Angeles-based creator of the much-hyped Azuki NFT collection, plans to raise at least $30 million in an upcoming Series A funding round.

Three people familiar with the fundraising effort confirmed the intended size of raise. One of those sources suggested that the bulk of the funds are already committed and that the round, if closed, would value Chiru at between $300 million and $400 million. A fourth person with knowledge of the deal cautioned that the details are yet to be finalized, but will be soon.

Azukis are a collection of 10,000 sideways-facing anime characters, pictured in varying moods and adorned with accessories like headwear and weapons. Around six months ago, a particularly rare item in the set sold for 420 ETH, more than a million U.S. dollars at the time. The cheapest Azukis are today worth 11.2 ETH (roughly $14,000), according to OpenSea data.

For more information: click here

Reddit’s Ohanian Leads $54 Million Doodles Capital Raise

Amid generally somber conditions in the non-fungible token (NFT) market, colorful-profile-picture maker Doodles raised $54 million of equity funding today, backed by Reddit co-founder Alexis Ohanian’s Seven Seven Six. Acrew Capital, FTX Ventures and 10T Holdings also participated in the fundraising.

Doodles, which began minting its pastel NFTs less than a year ago, has created one of the largest profile picture collections on the internet. The 10,000-image collection has a collective value of about $121 million, according to NFTPriceFloor. Bored Ape Yacht Club, the leading NFT series, has a market valuation of $1.27 billion.

The Doodles collection is based on 100 visual traits that were mixed and matched in different combinations to produce unique works—no two are alike. While they can be purchased for as little as 6.9 eth ($12,183), some have sold for as much as 296.69 eth (about $1.1 million at time of sale) because of rare attributes.

For more information: click here

Decentralized NFT Marketplace Sudoswap Announces Ethereum Token Airdrop

The decentralized NFT marketplace – Sudoswap announced that an initial supply of 60 million Ethereum-based SUDO tokens would be distributed to various members of the project. 

Those who also hold XMON, the utility token behind the popular NFT project called 0xmons, will receive the lion’s share (41.9%) of the SUDO drop via a lockdrop event. Holders of the GAN-generated 0xmon NFTs will also earn 1.5% of the SUDO supply.

“XMON holders will be able to lock their XMON as an indication of their commitment to participate in the governance of the sudoAMM protocol and receive SUDO,” today’s post reads. For every XMON locked up, users will receive 10,000 SUDO tokens.

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