Autor Cointelegraph By Alyssa Exposito

NFT prices take a gut punch as the crypto bear market deepens

NFT prices take a gut punch as the crypto bear market deepens

Uverejnil používateľ | máj 17, 2022 |

Without fail, crypto has a way of humbling even the most self-assured and this market is definitely not for the faint of heart. NFT investors have entered what appears to be a bear market and the recent chaos is also impacting community morale. The decline in NFT prices occurred as the United States Federal Reserve raised interest rates, Terra’s Luna and UST-based platforms collapsed and traders came to terms with the reality that the entire sector could be in a bear market. Things aren’t as bad as they were in 2018, but the NFT market isn’t as seasoned. Despite this, investors are already strapping up for potential future profits and ways to survive the current market downturn.Will blue-chip tier NFTs hold the line?Week-after-week, most blue-chip tier NFTs maintained their position at top 10 in total sales volume despite some floor prices dropping nearly 25% in the last 7-days. MAYC 30-day floor price. Source: NFTPriceFloorNotably, Yuga Labs’ Otherdeed NFTs, Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC), have all seen a decrease in their floor price. BAYC has since recovered from a dip in floor price after the Otherdeed launch, and has seen a minimal 3% decrease in the last 7-days. MAYC has seen nearly a 13% decrease in floor price in the last 7-days. MAYC has been on quite a ride, falling drastically from its peak at 41.2 Ether $120,386 at the time. Currently, MAYC is valued at 19.6 Ether, an approximate 53% discount since MAYCs pump was largely due to their eligibility to claim Yuga Labs’ Otherside’s Otherdeed NFT. Despite all of the uproar and controversy surrounding the Otherdeed NFT drop, the project remains at the top of the charts in total volume even after a 75% drop over the last 7-days.Otherdeed 7-day market cap. and volume. Source: NFTGoThe functionality of these digital lands is still unclear and Otherdeed has seen its floor price in a consistent downward trend. In the last 7-days, the floor price decreased by 1.2%, and since minting, the price has dropped 55% from its all-time high at 7.4 Ether. RTFKT studio’s CloneX floor price has dropped nearly 13% in the last 7-days with volume decreasing slightly over 12%. However, these numbers do not phase the community. Despite the recent dip, the RTFKT ecosystem is buzzing after celebrating the opening of Japanese contemporary artist Takashi Murakami’s “An Arrow Through History” in New York City. The exhibit is currently in the Gagosian Gallery, featuring CloneX inspired pieces along with pieces from Murakami’s first NFT collection, Murakami Flowers.Even with the NFT market cooling, the pricing seems like a blowout sale to some investors looking to capitalize on news. As it would turn out, proclaimed blue-chip, Azuki NFT took the biggest plunge in light of one of its founders, Zagabond openly admitting to their tumultuous past plagued with rugging the CryptoPhunks and Tendies community. I fucked up. After the spaces today, I realized my shortcomings in how I handled the prior projects which I started. To the communities I walked away from, to Azuki holders, and to those who believed in me — I’m truly sorry.1/x— ZAGABOND.ETH (@ZAGABOND) May 11, 2022NFT investors buy the rumors and the newsAs the famous adage goes, traders “buy the rumor, sell the news,” in an attempt to maximize profits. In light of Zagabond’s admission, holders decided to vote with their assets and Azuki’s floop police dipped by 74%.Even with this volatility, Azuki currently ranks at the top of the charts for total sales volume on OpenSea. NFTs are still considered the Wild West, but some investors are learning that everyone’s barometer for morals and ethics is slightly different. After the news sank in, Azuki’s floor price dropped precipitously but certain NFT influencers were quick to jump in and sweep the floors for potential future opportunities. Since May 10, the Azuki floor price has steadily seen an increase above 10 Ether, an impressive 200% increase in total sales volume that occurred after fresh news circulated. Azuki 7-day transaction and liquidity. Source: NFTGoAzukis partner collection, BEANZ, had also taken an 83% reduction in its floor price. Even with the 248% surge in volume, BEANZ, total sales volume has decreased by 64% in the last 7-days. Pre-reveal, BEANZ traded at 6.8 Ether and this price steadily descending post reveal to their current pricing at 1.65 Ether. BEANZ 7-day floor price. Source: NFTPriceFloorOther anticipated anime-inspired drops have surfaced such as PXN: Ghost division NFT, which slid into the top of the charts on OpenSea for volume. Ragnarok Meta also surged for a brief moment in its pre-reveal stage, but rumors that Zagabond was behind the project appear to be weighing on price. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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This week’s whipsaw market movements test NFT traders’ resolve — What’s next?

This week’s whipsaw market movements test NFT traders’ resolve — What’s next?

Uverejnil používateľ | máj 11, 2022 |

It goes without question that there has been an influx of excited investors piling into Web3 and this is despite the decrease in total volume sales in the last seven days. Since the start of May, the total market capitalization for nonfungible tokens (NFTs) rose to over $19.44 billion with the total volume exceeding $1.3 billion in the last seven days. 7-day NFT market capitalization / volume. Source: NFTgo.ioAlthough volumes are lower than usual, spectators are quick to wonder whether the projects launching are delivering workable products given the amount of liquidity that pumps into them. Although this is not always the case, NFT investors are making their assessments based on roadmaps, announcements and projections that the team shares. However, given the speed at which the nascent NFT sector is moving, detours and roadblocks are to be expected when investing in NFTs. Notable projects and blue-chip status NFTs like Cool Cats’ Cool Pets, Axie Infinity and even Bored Ape Yacht Club (BAYC) have slightly deviated from their intended plans, slightly curbing its users’ enthusiasm. While this clearly worked out well for BAYC, it is important that investors understand that investing capital on the promise of a roadmap could ultimately lead to disappointment. The unpredictability of growing pains It’s exciting to stumble on a project that appears to be blue-chip caliber. The project might tick all the boxes and the team has proven to have previously developed a working product, the art resonates with diverse groups of people. If the community is strong and rallies around their conviction toward the project and it’s backed by a desirable roadmap, then investors feel convinced that they’ve stumbled on a winner. Of course, all of this is no guarantee of success. Take for example, Cool Pets, which launched on Jan. 31 and intended to roll out its play-to-earn (P2E) game, Cooltopia. A few technical setbacks delayed the roll out and resulted in many NFT traders losing faith in the project. Adding to this, on April 29, Chris Hassett, the former CEO of Cool Cats NFT, stepped down from his role and the company is now in search of a replacement.We’re on the hunt for a new CEO!!Chris Hassett has stepped down as CEO. We thank him and wish him the best moving forward. We’re working with a top tier firm to help find a world-class CEO. In the interim, the founders will lead and focus on the vision and direction of CC — Cool Cats (@coolcatsnft) April 29, 2022Often, the biggest deterrent to a projects’ success are unforeseeable events that may create logistical problems but it’s important to note the difference between “good” and “bad” problems. For example, the acceleration of growth can create stress in a project’s ability to safely scale, but often puts a target on it. Axie Infinity wasn’t immune to a socially engineered hack resulting in a $625 million hack that represents one of the largest cryptocurrency exploits in history.As it stands, the Ronin bridge that transfers funds to the Ethereum mainnet, is closed. Meaning, users’ capital is currently locked on the Ronin network until a full audit is completed. This unforeseeable event has left investors with their capital locked, and their in-game tokens on a steep downtrend. In light of this, the community morale has seen some of its hardest days with investors voicing their opinions on how to proceed.Market cycles can impact moraleThe acceleration of growth can not only place a target on a project, but it can also lead to too many chefs in the kitchen experimenting with new ideas. Often, when a project’s user-base grows, so do the number of opinions on what is best for the future and sustainability of the community and the project. Here is where speculation begins to brew and expectations begin to form. Yuga Labs’ The Otherdeed digital-land NFTs went down as the most anticipated mint for 2022 thus far, with speculated value propositions upward of $110,880. Most of these values were attributed to rare Koda NFTs, which were randomly dispersed on Otherdeed lands. Since the mint was originally priced in ApeCoin, secondary marketplace, OpenSea supported APE as a form of payment for future listings. The Otherdeeds sold for an average price of $25,629 pre-veal but plummeted to $15,510 post-reveal, alongside the decline in price of APE.Otherside all-time avg. sale price / volume. Source: OpenSeaAlthough many Web3 investors expected this mint to blow others by the wayside, they did not expect the overall crypto and NFT markets to head into a downward spiral. In the last seven days, Ethereum has dropped by 15% and with most NFTs being Ethereum-based, their prices have also taken a hit. Solana (SOL)-based NFTs have also been sorely impacted with SOL trending 21% down in the last seven days. NFT traders also highly anticipated the mint would boost the NFT market with liquidity. While liquidity was injected into certain collections, the overall total sell volume for NFTs has dropped by 29% in the last seven days. These figures suggest that the market could be entering a cooling period.30-day NFT market capitalization / volume. Source: NFTgo.ioWith much of the market appearing in red, NFT investors are finding themselves in tough predicaments. Some investors extended leverage far more than they could cover and are having to force sell their assets at a loss to cover margin calls and liquidations. Others are rationalizing the negative slope to retail investors panicking because of interest rate hikes in the United States. The WAGMI “we’re all gonna make it” mantra that grew popular among NFT investors is being tested and traders are having to grapple with market cycles that are not decorated in all-time highs and monumental volume. A positive is that oftentimes during these lulls, builders are born. More experienced investors use the anticipated market dips as times to “stack and survive,” by adding to their portfolios and riding the current lows back to new all-time highs.

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Here’s why blue-chip NFT prices continue to soar nearly a week after the Otherside mint

Here’s why blue-chip NFT prices continue to soar nearly a week after the Otherside mint

Uverejnil používateľ | máj 5, 2022 |

In May 2021, OpenSea closed out nearly $140 million in total volume. Fast forward a year and the most dominant nonfungible token (NFT) marketplace closed over $880 million in less than a week partially because of the Yuga Labs’ The Otherside mint.  As a result of this mint, a fresh surge of liquidity was injected into the NFT ecosystem and as it stands the current NFT total market capitalization is over $19.4 billion. NFT market capitalization and volume. Source: NFTgoFor the past two weeks, most of the market had seen little action, but this changed after the Otherside mint closed over $317 million in just three hours. These widely unique, randomly sorted parcels of land have amassed over 194,000 Ether (ETH) ($536,137,000) and to the surprise of many, Yuga Labs has begun refunding those lost to the predictable gas wars that burned over $100 million worth of Ether. Some holders also touted airdropped assets valued at over $930,000.The price of NFTs may have taken a slight slumber, with many NFT traders charting impending doom for projects with low volume, but the liquidity created by the Otherside sale appears to be having the opposite effect. Investors are no longer fading blue-chip NFTs Outside of the Bored Ape Yacht Club (BAYC) and the Mutant Ape Yacht Club (MAYC), blue-chip tier NFTs like Doodles, Azuki, CloneX and Meebits have seen some notable increases in volume in the last seven days. Meebits saw a nearly 167% increase in total sales volume and a 19% increase in the average sale price after Yuga Labs announced plans to develop the Metaverse utility for Meebits. Meebits 7- day average volume and price. Source: OpenSeaMeebits’ volume began to simmer at the end of April and saw a surge since the start of May. The average sales price has increased by 15% and volume increased over 65% in the last seven days. Azuki 7-day average volume and price. Source: OpenSeaIt appears NFT traders who have left certain NFT ecosystems are taking their profits and investing back into upgrading their collection with blue-chip status NFTs. Following a similar trajectory as Azuki, Doodles NFT has seen nearly a 250% increase in volume over the last seven days. The floor price has also been steadily increasing since the start of May and is currently at 23 Ether ($65,458).A clear trend is that the most recent capital infusion is lifting blue-chip NFT prices, leaving the rest of the PFP-dominated market to fall. Could this be the beginning of Gary Vee’s speculation that 99% of collections will go to zero, leaving only the top 1% with value?RTFKT Studios’ CloneX NFTs have also been riding a wave. Just one week ago, floor prices gravitated around the 16.5 Ether to 17.5 Ether range, but they now stand at 19.7 Ether. CloneX – Takashi Murakami 7-day floor prices. Source: NFTpricefloorThis surge in price could be attributed to the MNLTH NFT reveal depicting the first blockchain-powered Nike sneaker with morphing and forging capabilities (meaning, it can be created to wear in real life).Along with the novel kicks, owners received a vial representing the first “skin” and in revealing the MNLTH, the NFT was burned to mint the MNLTH 2, which is another mystery box. So, the journey continues with RTFKT studios and its ecosystem. Although Ethereum-based NFTs have received the spotlight in comparison to projects on other blockchains, OpenSea’s recent support for Solana NFTs is leveling out the playing field. Related: Is the surge in OpenSea volume and blue-chip NFT sales an early sign of an NFT bull market?Solana Summer part deux?Traders with little to no exposure to Solana can now interact with the NFT ecosystem as OpenSea has added support for the chain. While Solana investors are adamant about using Solana’s Magic Eden marketplace, other traders are thrilled about the new option. Making waves on the Solana project is Okay Bears, which is the first Solana blockchain NFT to be ranked in the top 5 on OpenSea volume charts. At a cost of 83 SOL ($7,111), Okay Bears has stirred some controversy regarding their quality and value. Because certain NFT influencers changed their profile pics to sport Okay Bears, the project’s total volume spiked over 34% in the last seven days but is continuing to level out. Okay Bears 7-day avg. volume / price. Source: OpenSeaThe success of Okay Bears has investors calling for another “Solana Summer” and the Catalina Whale Mixer NFT is also making a splash on OpenSea. Even though the project launched in December 2021, NFT influencers and key players are circling back to when they first jumped into the project, and have since made some large sales and notable gains.Catalina Whale 2291SOLD! POW POW → 500.00 SOL ($49,080.00 USD)https://t.co/RB7j7udX3n@catalinawhalesWelcome to the fucking Catalina Whale Mixer!https://t.co/p2av2TxZ5y https://t.co/m74Kf8NNZL pic.twitter.com/FkKQjKjT3v— Catalina Whale Mixer Sales Bot (@WhaleBouncer) April 28, 2022Currently, 12 Solana NFT projects are in OpenSea’s top 100 list for total volume and this could indicate that the above-average NFT collector could be diversifying across blockchains. DeGods NFT ranks at the top 40 NFT collections for total volume on OpenSea. Self-described as a deflationary collection of misfits, punks and degenerates, DeGods floor currently stands at 310 SOL ($27,190) on OpenSea and 245 SOL ($20,851) on Magic Eden. Data from Magic Eden shows that DeGods saw a 179% increase in floor price in April and a late surge can be seen at OpenSea.DeGods 30-day avg. volume / avg. Source: OpenSeaGiven that blue-chip tier NFTs like BAYC and CloneX have set the standard regarding brand equity and rewarding communities, investors appear to be doubling-down on these collections.It’s important to note that while proof-of-profile NFTs have seen slow volume, there are other types of music, literary and membership-based NFTs emerging. Ethereum NFTs have clearly cemented their mark in history; but other blockchains with NFT projects are also coming to the surface. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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NFT traders STEPN to a new groove — Is move-to-earn the future of fitness or another fad?

NFT traders STEPN to a new groove — Is move-to-earn the future of fitness or another fad?

Uverejnil používateľ | apr 28, 2022 |

Axie Infinity was a pioneer of the play-to-earn movement and the project inspired new Web3 applications that aspire to apply the earning model to their respective ecosystems. The latest project to join the move-to-earn movement is STEPN, a Solana-based Web3 application where owners of the NFT sneakers earn as they walk. STEPN has programmed a few factors that determine just how much a person can make with its sneakers and the Green Satoshi Token (GST) is STEPN’s in-game token that currently trades for $7.30. Over the last 30-days the token has surged over 77%, but is it sustainable? GST monthly price action. Source: CoinGeckoWhat’s interesting about the move-to-earn phenomenon is that it’s essentially a form of P2E since it gamified fitness through a digital asset (the sneaker). Regardless of how one slices it, NFT holders must engage in the application mechanics to receive the reward. While STEPN might be racking up some serious profits for investors now, there are already a growing number of competitors emerging and new earning models could soon make it nothing more than a passing fad. Play-to-earn was all the rage in 2021 but now that movement is a mere shadow of its former self. This should lead investors to question the sustainability of the move-to-earn trend. Move-to-earn Dapps go parabolicIncentivizing behavior is not a novel concept, especially in the health and fitness space. In fact, SweatCoin, a project founded in 2018, was one of the first applications that would pay its users digital currency to exercise. There are other crypto fitness applications such as Dotmoovs, Calo and Step, each with their respective in-app reward tokens. This means that STEPN isn’t pioneering the movement, but it could be revitalizing it. The project is currently in beta with new users requiring a code to participate. In branding and packaging move-to-earn, STEPN gained popularity among crypto and NFT pundits and had a parabolic spike in upward growth. Cumulatively, STEPN has amassed over 200,000 users over its lifetime with consistent volume. In the last 7 days over 32,800 new sneakers have been minted. Cumulative number of STEPN shoes minted. Source: DuneAnalyticsOn average, a STEPN sneaker can earn a user up to $20 per day, while a premium tier sneaker can make users hundreds of dollars at the current price of GST. Similar to Axie Infinity, users must first put in an initial capital investment to begin earning rewards. There were 99,999 NFT sneakers available for mint, but just like Axie Infinity, users can breed their sneakers during sneaker minting events (SME). Currently on Magic Eden, a secondary marketplace, the cheapest STEPN sneaker is on sale for 16.56 SOL ($1,628) and the most expensive is 300 SOL ($29,493). There are a range of sneaker types, along with tiers of attributes and levels a sneaker acquires that impact how much it can yield. The durability of cellular signal and the strength of a user’s global positioning system (GPS) plays an integral role in earning. If either GPS or signal is choppy, there is no guarantee that data is being recorded, and STEPN relies on knowing the distance a person has covered to earn rewards. 2/n Currently to earn tokens (GST) in #STEPN, the walking / running requirement is quite low. I earned ~USD40 with 10 mins of walk daily so it’s pretty chill. The only thing is, you need to go outdoor in which the GPS signal is strong. That’s how the steps are calculated for GST— Smallveggie | TMA (@small_veggie) April 17, 2022STEPN is currently in beta with new users requiring a code to participate. By branding and packaging move-to-earn, it has gained popularity among crypto and NFT pundits and had a spike in upward growth. Cumulatively, STEPN has amassed over 223,500 users and it currently dominates the move-to-earn landscape in total market capitalization. Its governance token, Green Metaverse Token (GMT), is over 20xs that of all other movement economy tokens combined making it a desirable bet. Web3 applications lace up for the raceSTEPN is not alone in the move-to-earn race, and recently Step App, a dapp on Avalanche blockchain, emerged as a competitor aiming to tap into the $100 billion fitness industry. Step App has multiple token emissions with FITFI, a governance token and KCAL the in-game token being earned. However, the risk in token emission of any kind is that it becomes a vacuum for value extraction. To mitigate the possibility of inflation, Step App will integrate token sinks into its tokenomics and burning mechanisms will indefinitely remove tokens from circulation. Unlike STEPN and Sweat Coin, Step App will build a software development kit that provides others with tools to build within its Metaverse. In this way, it is more Web3 native and can potentially mitigate bottlenecks that impede the product’s overall scalability. ✨Step App Memorandum is LiveThe Step Protocol SDK is the foundation of the #FitFi economy. FitFi is at the heart of the $100B fitness and the $200B gaming markets. Developers, projects, and Fortune 500 corporations will join FitFi, as they did with #GameFi. pic.twitter.com/afSqNz2HRI— Step.App (@StepApp_) April 23, 2022

It’s still uncertain how these move-to-earn applications will combat saturation, and how well their token mechanics can sustain a healthy price point once these applications are servicing millions of users. There’s also the risk of a potential drop off in active users since maintaining exercise regimes is stronger from habit-building and intrinsic motivations rather than external rewards. Since most of these move-to-earn applications require capital upfront, users should stay aware of the price action, volatility, growth and saturation of the movement economy and the levels of activity required to break even or profit. Turning physical activity to profit could become increasingly difficult if the move-to-earn ecosystem develops and gains more popularity. Since more users are looking to turn their physical activity to cash, this impacts the token price and can increase the price of entry. As such, these applications are working to tackle the manipulation of fraudulent inputs of exercise as an exploit for maximal earnings. In theory, move-to-earn applications are well intended in centering health and wellness. However, the success of these models stem from incentivizing, and in effect, attempting to influence behavior to form habits. Studies show that habits are sustained more readily through personal intrinsic motivations (which are hard to quantify) rather than external rewards.Therefore, there are fundamental factors to consider when investing in the move-to-earn movement for the long-term.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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OpenSea top-10 NFT projects soar as new liquidity enters the market

OpenSea top-10 NFT projects soar as new liquidity enters the market

Uverejnil používateľ | apr 25, 2022 |

Spring is here and with it came a newfound awakening for nonfungible tokens (NFTs). In the last week of March, total sales volume rallied to $20 billion, but this metric took a dive from midApril to $17.6 billion. However, on April 16, the newly landed Moonbirds NFT, pumped over $280 million worth of liquidity into the market and this, compounded with rumors of Yuga Labs’ Otherside land drop, sent the total volume sales for NFTs into a steady upward trend.  NFT 30-day market cap / volume. Source: NFTgo.ioIn the last seven days, the sector’s total market capitalization increased over 3% to approximately $18.6 billion and the total volume is up nearly 37% over $1.65 billion. While it’s yet to be determined if the “a rising tide lifts all boats” saying will be true for the NFT market, liquidity could be circulating into blue-chip NFTs and soon-to-be released collections. Blue-chip tier volumes have been muted, but for how long? Liquidity has already been making its way to the top NFTs in total volume sales with the Mutant Ape Yacht Club (MAYC) seeing a more than 200% increase over the last seven days.MAYC 7-day market cap / volume. Source. NFTgo.ioWith the number of NFT holders and buyers increasing, projects and investors are looking toward building out ecosystems of mutual value. RTFKT studios’ CloneX has been emphasizing that the next stage of development will center on ecosystem building. CloneX has been riding a steady wave, hovering at around 18 Ether (ETH) ($53,073). However, the mysterious MNLTH NFT, airdropped to all CloneX holders, has surged in the last seven days to over 11 Ether since it no longer is a mystery box. Its contents revealed Nike’s first-ever NFT CryptoKicks equipped with customizable features, a DNA vial for future forging events and a MNLTH2. For every MNLTH burned, the items acquired are currently worth at least $26,000. A Murakami RTFKT Skin Vial also recently sold for 72 Ether ($212,976)While some projects are centered around ecosystems, others are focusing on shared interests and exclusivity. PROOF Collective, created by Kevin Rose, is a members-only project that launched Moonbirds NFT and many traders were shocked by the $354 million in volume generated in less than a week. Surprisingly, Moonbirds nearly flipped blue-chip tier NFTs like Doodles for total volume. The current floor price of Moonbirds has increased by over 390% since it hit the secondary market and is trading at 33.5 Ether ($96,447.84) at the time of writing. Moonbirds floor price. Source: NFT Price FloorNFT denizens have been vocal about the legitimacy of its explosive growth, especially after announcing the NFTs that were gifted to notable celebrities like Jimmy Fallon, Steve Aoki, Pussy Riot, the New York gallery and Springberg Gallery, to name a few. Despite some NFT collectors speculating that Moonbirds would remove liquidity from the market, data shows the opposite to be true. In 24-hours, the total volume of sales on OpenSea increased by nearly three times from $66.7 million on April 15 to over $177.5 million when Moonbirds launched on April 16.To date, NFT prices continue to see an upward trend and blue-chip tier NFTs have seen a boost in total sales volume across the board. Although there is a divide in sentiment regarding the Moonbirds phenomenon, it could have been the liquidity boost the market needed.Related: Is the surge in OpenSea volume and blue-chip NFT sales an early sign of an NFT bull market?NFT projects gearing up for launchRun-of-the-mill NFTs have grown stagnant and the overall market sentiment has shifted gears from traditional roadmaps and quick-flips to strategically investing in projects and teams who are set to deliver for what investors believe will be years to come. NFT investors are keeping their eyes peeled for projects that can seamlessly intersect culture and community while providing value. As such, creators and developers are once again steering away from static PFPs and aiming to bring more dynamic features to respective collectors. Take for example, Anata NFT, which launched on April 21 and is a collection of 2,000 avatars that are created for its owner to embody. Anata NFT uses a webcam to track and mimic facial expressions and other movements and the anime-inspired NFT is suited for the Web3 pundit who takes their anonymity seriously. If you’re just learning about us now, here’s what you need to get started:1) Watch the demo of what Anata is: https://t.co/nYgKJxGgO92) Read the complete guide: https://t.co/3LMApq0XZ83) Mint at https://t.co/t68ZOwMP4e – ending between 9am and noon pst on April 22nd— Anata NFT (@AnataNFT) April 22, 2022Minting was conducted through a ranked auction starting at 0.25 Ether ($752) and was limited to 3 NFTs per wallet. The bid closed at 5.35 Ether, whereby 50% of the net proceeds will be allocated toward its DAO. The highest bid was 69.42 Ether ($209,306), with the second-highest bidder at 10 Ether ($30,150). This incredible niche NFT, while seemingly anticipated, is trading below the closing auction price on OpenSea for 3.49 Ether ($10,290). Auctions may be the new standard for NFT drops, as the most recently hyped NFT collection, Akutars, launched its public mint. In true Dutch auction form, every bidder pays the same price as the (last) lowest bid. Bearing this in mind, Akutars started its utch auction at 3.5 Ether ($10,552) and closed at 2.1 Ether ($6,211). However, a white hatter revealed that the contract was not properly written and was susceptible to exploit, and froze funds as to confront the Aku team developers about their mishap. As a result, all it took was a misplacement of one line of code for $34 million to be locked indefinitely. The team has since acknowledged its shortcomings and has proceeded to distribute funds to all bidders, including the 0.5 Ether discount granted to all Aku Mint Pass holders who placed a bid.$34 million, or 11,539 eth, is permanently locked into the AkuDreams contract forever. It cannot be retrieved by individual users or by the dev team.The refund processing, which is complete, sets each bid status to 1. pic.twitter.com/6GnQPnddC6— foobar (@0xfoobar) April 23, 2022

The Aku Mint Pass NFT grants each owner an Akutar. Its all time-high rose over 4 Ether ($12,060) suggesting the community could price this in when the PFPs hit the secondary market. Sleeping giant Ragnarok is what seems to be a PFP collection intended to unlock access to its game-like metaverse. The multiplayer online (MMO) will combine elements of lore, Web3, social features and role-playing games and is set to launch on April 27. The dynamic NFTs are projected to enable owners to trade, earn and own digital real estate, and the public sale will be 4,500 Ronin Zeros at a Dutch auction that will begin between 0.5 Ether and 0.1 Ether. With new and old liquidity circulating in the NFT market, and highly-anticipated projects waiting to launch, it will be interesting to see where collectors make their consolidations and take their convictions.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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