The NFT space can feel like information overload at times, so we’ve cut through the noise to deliver you a curated dose of what matters most. Your all-in-one weekly companion.
Headline News - Blue chip NFTs lose 50% of value whilst free-to-mint collections surge in popularity
We’re in a bearish market, that’s undisputed, but data sometimes helps to highlight more acutely what damage has been done and across what timeframe.
Data from DappRadar shows that blue-chip collections such as CryptoPunks, Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC) and Moonbirds are down around 50% over 30 days from 1st May 2022.
Both floor prices and market caps have been affected heavily, with the biggest loser being Mutant Ape Yacht Club who has seen a 71% decline in its market cap.
This decline has been felt throughout the NFT space. The Veve collectibles market cap also sank, falling from around $684M USD on 1st April to $430M on 1st June.
Please read this article for a more in-depth look at the numbers.
Amidst this decline in blue-chips we’ve seen some collections are weathering the storm rather well, most notably goblintown.wtf. This was free to mint and is now sat at an 8ETH floor at time of writing, showing little sign of slowing down.
It was featured last week in the ‘Maybe Something’ section. Here’s an article which provides a brief summary of the collection for anyone who’s unaware of it.
Curated News - the best bits of the past week
BIGGEST NFT Sale: Bored Ape Yacht Club #5177 250ETH
Why Ava Labs Wants the Bored Ape Metaverse and ApeCoin on Avalanche
NFT bubble deemed unsustainable without more market research tools
Hacker tastes own medicine as community gets back stolen NFTs
NFT-Funded Film ‘The Infinite Machine Movie’ Enters Decentraland
MetaMask Partners with Asset Reality to Empower NFT Scam Victims
Apple's upcoming developer conference sparks rumors of NFT trading cards
OnlyFans Founder to Launch Zoop, an NFT Trading Card Platform
Zuckerberg’s Meta Plan A Significant Short Term Loss On The Metaverse
Maybe Something - things we’re keeping an eye on
Historical Insight: TwitterEggs are historical NFTs minted between 2014 and 2015. They are native the Namecoin blockchain, but are now fully integrated into the Ethereum blockchain, thanks to Emblem Vault. The TwitterEggs were the default Twitter account image back in 2014. The eggs became so popular Twitter had to remove them because users did not want to add their own profile picture. There are about 277 in circulation, of varying background colours and rarity. They are a highly coveted vintage NFT with a floor price of 9.9ETH as of now. Click here to view them.
Streetlab.io’s genesis collection, Free Muertos Tribute, is headed up by Mexican street artist Yescka. This collection intends to help give creatives a louder voice and fight against censorship. Mint date June 2nd. Click here for more info.
CoolCats announced new characters for their Coolverse ecosystem
EightBit Homes coming for your Bits. See here for more details
mfers creator teases a “new era” begins in June in a roadmap tweet
Quantum Art announce “Doppelgänger” by @justinaversano (Twin Flames)
in collab with @kimasendorf. Coming June 6th. See details here.
Coolman’s Universe teased a potential new collection @coolmanbabies
Parallel PDIV Manifest is Live! The Manifest is a list of dedicated Parallel collectors. Collectors included in the PDIV Manifest will have an opportunity to pre-reserve 1 PDIV pack. PDIV is on June 11th @ 5pm EST.
Talking Point - NFT-powered storytelling
Although NFTs are slowly but surely seeping into every corner of society, it’s often the creatives who are exploring their potential more so than anyone else. This week I wanted to bring to your attention how it’s impacting storytelling.
There are plenty of examples of how NFTs are being experimented with in the film, TV and music industries. A musician can release their work as an audio NFT on platforms such as sound.xyz, films can get funding through NFTs, as is the case with the project Calladita Film and there’s numerous plans in the works to create TV shows with World Of Women and CryptoDads being two that have discussed this in the past.
Using NFTs to help fund or release TV shows or films is one thing, but altering and experimenting with the medium through which we deliver these stories is a completely different shift in how a user can experience them.
I read an article this week which is a deep dive into this very idea. Jason Michael Primrose’s “Lost Children of Andromeda” book series tells the story of a futuristic earth set in 2052. It’s this story that Primose intends to transform into an interactive NFT experience on Ethereum.
The project has two main goals:
Engage readers with interactive storytelling elements, dynamic NFT collectibles, and the ability to help create characters that can be pulled into future novels in the series and multimedia adaptations.
Develop a community that functions as an ongoing creative workshop to help encourage emerging artists to pursue their passions.
The ideas behind this new take on how stories are delivered is an exciting change to what is one of the most dominant parts of all our lives: stories.
Netflix, Spotify, books, news and films all play a huge role in modern society, taking up large amounts of time in most peoples lives. And they all serve the same purpose: storytelling.
I invite you to read this excellent article by the team at Decrypt, which dives much deeper into this idea. Enjoy
Tip Of The Week - New at Gem: Live Mode!
Continuing on our journey of marketplace updates, Gem.xyz hit us with another platform improvement 2 days ago, which is their ‘Live Mode’.
This new addition provides a real-time window into what’s happening within a collection across multiple marketplaces.
It could help with sniping if you’re quick enough to beat someone else’s pending transaction, or you can ensure you won’t come up against failed transactions by getting more clarity on whether an item is of interest to others or not.
As always, we recommend trying it out for yourself to see how useful (or not) it is for your NFT purchasing needs.
ZenAcademy and 333 Club Noticeboard
Regular Event Reminders
Join our poker nights via our Discord. Events held every weekend, with prizes to be won.
Weekly Movie Nights are going strong. See more info here.
ZenAcademy runs a guided meditation/gratitude circle in Discord for a weekly reset.
Reminder: As a ZenAcademy member, you get exclusive access to market health statistics and analysis updated every 12hrs. For a full rundown of how to get the most out of these charts, click here.
Irregular Events and Info
Episode 44 from One Bored Ape is live! Listen on Spotify here.
The latest edition ZenChats is out in which Zeneca talks to Liam about his experience in this space growing from a very small bankroll to well into 6 figures. He discusses his upcoming project, Expert NFT Summit, which is focused on bringing people together to learn.
We’re also planning an IRL meet up at MET Amsterdam which is taking place from the 14th-17th June. Join the chat here for more info.
We have a community event (most likely ZA/333 token holders only) at NFT NYC on 23rd June (3pm till 6pm). Add to calendar using this link.
They’ll be a breakfast event on Wednesday, June 22 from 9-11 am at NFT.NYC in collaboration with Curious Addys and Meta Angels communities. There will be 75 spots per community, and raffles will kick-off on 1st June, so watch out for more info in Discord.
A reminder to all new and old that Zeneca’s course 'How to Launch an NFT Project' is available for free for anyone holding a ZA/333 NFT. You can sign up at: https://nasacademy.com/zeneca.
Nothing in this or any other ZenCaps publication should be construed as financial or investment advice. The views and opinions expressed in ZenCaps publications do not reflect those of Zeneca_33 or the ZenAcademy.
Always exercise caution within the NFT space and adhere to best practices when it comes to making any investments. There is plenty of potential, but this comes with inherent risks.
Stay safe, and as always, good luck.