Key takeaways:
- Last week closed at its lowest level since November, at $36.6 million.
- Goblintown is making a big entrance with its unique aesthetic, reimagining what it means to be rare.
- LCD-laced Trippin Apes got ahead of Mutant Apes in sales, at $15.6 million vs. $10.7 million respectively.
The NFT market continues to go to the year’s lowest level. Although there was an uptick in trading volume on Thursday, at nearly $58 million, the week closed on Saturday at only $36.6 million. In bearish markets, people tend to experiment less, so OpenSea continues to maintain its marketplace dominance at 88%.
However, the daily total traders level remains relatively high. Not February-high at 83k traders, but certainly better than last November at 35k. The week closed at 48k daily traders.
Which NFT Collections Soared This Week?
One of the biggest performers last week was Verb and The Uncanny Country Club (UCC).
UCC borrows artistic inspiration from Bethesda’s Fallout series, right to the official website’s retro mood. All 5,000 NFTs sold out across 1.8k owners, propelling UCC into the top 30 range at $1.51 million in sales for the week. Presently, UCC’s floor price sits at Ξ0.16.
Verb saw similar weekly success at $1.5 million sales; all sold out at 6,500 items. Screenshotting VERB NFTs doesn’t do them justice because they are all animated. In fact, some people have already taken advantage of this by making them into dynamic wallpapers for their smartwatches.
These white blobs performing tasks have had an impressive increase in floor price, which currently holds at Ξ0.11 across 3k owners. It is not often that we see such a clean-cut art style accompanied by nifty animations. Moreover, the choice of having white blobs as characters may yield unexpected success.
It is all well to have NFT characters with various facial expressions, but there is certainly a big market for a minimalistic design that emphasizes the economy of motion and colorful accessories.
However, by far the top performer was Bunnies N Homes, having risen by 14,604%, at $2 million in weekly sales. It is your typical PFP (profile picture or picture for proof) collection, drawing inspiration from Apes, but uses cartoon bunnies instead.
The Bunnies N Homies Club’s floor price reached 3.69 SOL price across 4.2k owners. In total, 7,575 bunnies sold out. This particular collection is aimed at the sky, just as Yuga Labs got with BAYC. It has its own $VIBEZ token on the Solana blockchain. As its name suggests, the club is all about fostering good vibes and nurturing community loyalty for future drops and Carrot Juice alterations (similar to mutant serum for MAYC).
However, the three emerging NFT collections pale in comparison to the top earner – goblintown.
Rektguy is another collection that saw huge volumes last week. London-based artist osf and psychedelic illustrator alienqueen are behind the collection. Just like goblintown, this collection also was given out for free – as free mint. Snoop Dogg purchased an NFT from the collection, bumping the floor and trading volume up.
Goblintown Tops the Week
At $20.4 million in sales, goblintown hit the #1 NFT rank this week. It is safe to say that it has one of a kind art style, bordering on the grotesque but attention capturing nonetheless. In fact, one could say that it is the first 10k generative NFT collection in which every NFT is completely different from the other.
No matter how many goblins you look at, you won’t be saying “oh, this is just like that one but with a slightly different hat/t-shirt.” Obviously, this changes the generative NFT game substantially, as their attribute rarity becomes less important. Instead, each goblin relies on the mood it imbues with the prospective buyer.
Furthermore, since goblins are closer to troll species, we may see a new wave of goblin avatars across social media. Speaking of which, goblintown.wtf already accrued over 40k Twitter followers. Minted last week, goblintown’s market cap had already risen to $23.6 million with an impressive Ξ2.57 floor price.
Based on these fast-tracked results, it looks like goblins are going places. Not only does each one look unique, but they fit well into a wide range of fantasy RPG themes. This is clearly the case when we take a gander at goblintown’s family pic, which essentially shows future drops.
Dragons, unicorns, witches, elves, trolls, warriors…the staple of any classic fantasy lore. It is even more divergent and richer than BAYC, MAYC, and BAKC, which look plastic in comparison. If goblintown.wtf partners up with Yuga Labs’ upcoming Otherside metaverse, we may see a goblin uprising!
Yuga Labs Still Dominant
Speaking of Yuga Labs, their NFT offerings are still holding top NFT ranks, just behind goblintown this week. Otherdeed land NFTs are in second place with $19.4 million in weekly sales at Ξ2.85 floor price. BAYC is just behind at $18 million in sales at a premium Ξ87.6 floor price. However, a Solana-born ape derivative is ahead of MAYC this time.
The Trippin Ape Tribe consists of 10k Apes doused with hallucinogenics. They made $15.6 million worth of SOL this week, reaching a floor price of 39 SOL across 6.6k owners.
Impressively, this Solana-based community project already attracted over 382k Twitter followers, which bodes well for the project’s liquidity. They should also appreciate Solana’s fast transfers and negligible fees. Although OpenSea supports Polygon, many traders prefer simplicity over jumping across various Ethereum sidechains.
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