Weekly Check #0004
Welcome back for this week’s crypto and web3 newsletter. If you want to check out the previous editions of The Weekly Check, you can find them all here.
General Crypto Markets
Let’s take another look at total marketcap. Again looking at the monthly chart here.
This week — $1.06 trillion
Last week — $1.08 trillion
The pullback continues slightly this week. If I had to pick a direction for the next move, I’d think up. Prices are consolidating after a few volatile weeks. Let’s wait and see.
NFT Markets
Volumes still trending generally up in NFT land. As you can see in the 12-month look below, Feb 2023 has reached the highest total volume in 9-months.
Also I want to highlight the massive shift in market share for Opensea and Blur. As you can see dark blue (Opensea) dominated 2022, up until around November 2022. Each month since though, teal (Blur) has commandingly pulled away.
1000ETH Dookey Dash Sale
If you follow NFT’s at all you know about the gamified phase of Yuga Labs upcoming mint. Players competed in a simple survival style game, spending $APE for increased bonuses and perks.
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The incentive? The higher your score, that rarer your minted NFT will be.
Mongraal, an 18 year old Fortnite pro, showed off his versatile gaming skills by locking in the top score for Dookey Dash. Meaning his NFT will be the #1 rarest in the collection. One Adam Weitsman said “I’ll take that,” and offered Mongraal over $1.6 for his key. Mongraal accepted the pay day (more than his total Fortnite earnings) and Adam gets the rarest NFT in Yuga’s upcoming mint.
Interesting for sure, but of course with anything Yuga or NFT’s for that matter, there was some drama. Including but not limited too cheating and IP scandals. Though, all in all it seemed like a very successful initiative, as the Dash passes have been top of charts for trading volumes since release, players seem to have enjoyed and millions in $APE was spent playing.
What is Twelvefold?
More from Yuga… Introducing TwelveFold. A limited edition collection of 300 generative pieces, inscribed on satoshis on the Bitcoin blockchain.
Seems there is some split opinion about Yuga getting into “fine art.” One thing is for sure, they plan to monetize the attention they hold. I will keep you updated as things develop.
Coinbase enters the NFT scene? Again?
Coinbase is taking a second crack at NFT’s, this time aiming to build a Ethereum Layer 2 (Blockchain built on top of another blockchain).
Base — Is getting a ton of initial attention, starting with their Open Edition mint. Almost 400k NFTs have been claimed, by almost 300k unique wallets. That’s more unique wallets than are often active over multiple day periods. The power of Coinbase… Users!
This could certainly be something, and I will stay up to date and relay any relevant info through these Weekly Check newsletters.
Safety Tips
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