💥 Binance INVESTS $500 million in Twitter - 6th May, 2022

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24hr Market Overview 📈

NFT Market Recap

Yesterday, Opensea traded $131.61 million in what was a brutal day for the market. The FED raised rates yesterday, leading to both a stock market and Crypto price dump. Most of the days Opensea volume was people undercutting each other to try and regain some liquidity by selling.

Azuki's BEANZ revealed their art to holders yesterday, which like we've seen many times in recent caused a dump. BEANZ now sits at a 4.09 ETH floor, down -32.95% in the past 24 hours. Projects don't usually dump this hard immediately after the reveal, but a combination of a poor day for the markets in general and the art reveal was a recipe for big losses.

Whilst the floor price is down currently, the overall perception of the art was positive and we saw many users purchasing large amounts of BEANZ believing that they are currently undervalued.

Elsewhere, Otherdeed (4.09 ETH, -7.10%) saw further losses. We have seen a recent effort over the past few days to purchase land in the middle of the metaverse, these are denoted by their low # numbers and have been selling for insane prices. You can view the full map of the Otherside metaverse here.

Other projects across the market saw further losses in what was a generally bloody day.

• Bored Ape Yacht Club | 106 ETH, -8.62%

• Mutant Ape Yacht Club | 23.8 ETH, -8.46%

• Doodles | 22.98 ETH, -9.88%

• CLONE X | 17.10 ETH, -7.52%

Biggest Purchases

🥇 #1) Bored Ape #17 bought for 410 ETH ($1,124,624.25)| Link

🥈 #2) Otherdeed #54 bought for 50,000 APE ($791,357.38)| Link

🥉 #3) Otherdeed #79190 bought for 180.69 ETH ($529,092.44)| Link

Latest NFT News 📰

💰 Yesterday it was revealed that one of the firms helping to back Elon Musk with his $44 billion takeover of Twitter was Binance, with a $500 million contribution. This bolsters Binance's ambitions to help bring Social media into the era of Web3. You can read more about the story here.

🙄 After a nearly 7-month waiting list. Coinbase NFT finally moved from its private beta to public launch. It was a poor first day for the platform, with only 150 transactions totaling $75,000 in volume. Which is a tiny fraction of the volume Opensea secures on a daily basis. It has been incredibly hard for anybody to take market share from Opensea, which has already established itself as the number one player over the past year.

Today's Biggest Drops 👀

With the markets looking shaky and no big projects on our radar. We suggest keeping your capital protected today. Check back tomorrow!

The NFT Minter Guide to NFTs 💸

Meme of the Day 🤣

Credit: (twitter.com/widmit)

That's all from us! See you next time!

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Disclaimer: The NFT Minter Daily DOES NOT provide financial advice. All content within this newsletter is for informational and entertainment purposes only. The NFT Minter Daily is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any crypto-related asset is extremely risky and could result in significant capital losses.