Yesterday was the 3rd best day for the NFT market in the last 30 days and the NFT economy appears to be on a steady rebound. If this pace continues January may be the best month for the category in the last 5 or 6 months. The uncertain economy may affect the continued momentum. Additionally, if ETH and BTC continue to rip, NFTs may stall.
NFT Artists on the move
Beeple and Pak have a knack for making large announcements around Yuga Announcements, this year is no different (at least for Beeple). Beeple has teased a major announcement for mid-March, which is believed to be an in-person event for collectors and fans at his studio in Charleston, South Carolina. This event may become an annual occurrence.
two years later… 03.11.23 🚀🚀🚀 pic.twitter.com/l5KNnxk376
— beeple (@beeple) January 12, 2023
Another artist, Fewo, has expanded on his Paint drop from last year, releasing the first official trailer for FewoWorld and its accompanying PFPs (personalized profile pictures). The FewoWorld Paint collection has seen a 266% increase in volume traded and 67% increase in floor price over the last 30 days.
Been workin so hard & I’m so excited to reveal the FIRST OFFICIAL TRAILER for Fewos! 💌🕺 I know y’all been patient, so thank you so much for supporting me! ❤️ pic.twitter.com/oaUMGkOQFv
— FEWOCiOUS (@fewocious) January 12, 2023
Artist Justin Roiland, who is already a polarizing figure in the crypto and NFT space, may have limited supply moving forward due to felony domestic violence charges dating back to May 2020.
Today, digital artist FVCKRENDER is releasing a collection of 69 NFTs, known as THE REVEAL OF THE GHOST, on the Ethereum blockchain. The collection features 69 different NFTs, each representing a frame from an animation. The NFTs will be auctioned off to the highest bidders, with the winner of each auction receiving an NFT of the full animation at the end of the auction. 69 Editioned NFTs via a Ranked Auction
In the world of PFPs, the upcoming game Trial of Jimmy the Monkey has received mixed reviews and criticism from the market. The game, which is set to release on January 17th, has been criticized for its combination of luck and skill elements. Additionally, the game is seen as a proof of concept for a metaverse product.
On the one-year anniversary of their launch, Azuki has announced plans to build a metaverse city, known as Hiumia, with the help of the community. The goal is to continue expanding the brand, although sentiment is mixed.
The Mutant Hounds NFT project has received mixed reviews since its reveal, with the floor price dropping as low as 1.02 ETH. The collars associated with the project have also seen a 10% dip, sitting around 1.6 ETH. Volume has also decreased on both projects, with daily volume down over 50%.
Broader Crypto News
In crypto news, Bitcoin’s value has recently been increasing, reaching the $19,000 level. This is believed to be due to a shift in investor sentiment from fear to greed. Ark has also recently invested $2.5 million in COIN as the publicly traded crypto exchange struggles. However, other crypto exchanges, such as Crypto.com, are experiencing downturns and laying off employees due to the crypto winter.
The SEC (US Securities and Exchange Commission) has recently filed a complaint against Genesis and Gemini for allegedly violating federal financial law through a complex and improper lending arrangement involving billions of dollars of digital assets, primarily from US retail investors. As a result of this setup, a number of unregistered crypto securities were created.
Finally, Intuit, a financial software company, has announced that it is exploring web3 and the metaverse with a new trademark application to process crypto payments, virtual marketplaces, bill payment services, and more.