🚫 China BANS NFT Users! - 1st April, 2022

GM! Welcome to the NFT Minter Daily - The daily no-bullshit newsletter with everything you need to know about NFTs, from the latest news, market recaps and the hottest mints, in less than 5 minutes! ☕

24hr Market Overview

NFT Market Volume

On Thursday, Opensea traded $116.83 million, which is a pretty strong day compared to the average in March.

Now that it is April, we can calculate the total volume traded for March, which was $2.49 billion, this is the lowest monthly close in 2022 so far, with $3.58 billion in sales during February and a massive $4.97 billion in January. When we combine these numbers with other stats, such as OpenSea monthly active traders, we can see a similar decline, with 451,767 active traders, down 14.61% in the past month.

This data shows a cooling demand in the NFT space but isn't too much of a concern at the moment. March's trading volume and active users fall roughly in line with much of Openseas volume throughout Q4 of 2021.

One of the most traded projects yesterday was Azuki, which had 3,385 ETH in sales. After Azuki's garden party which was hosted on Wednesday night, the project airdropped 2 crates to each holder containing mystery NFTs.

The airdropped project which Azuki dropped also saw tremendous trading volume, with 4,789 ETH in sales. The project is titled "Something Official" and has not yet been revealed. We are super excited to see the reveal and how the markets react in due course.

NFT Floor Changes

Azuki (22 ETH, +24.65%) had a really strong day, breaking all-time highs and trading above 20 ETH for the first time. The project has now already airdropped to its holders which in previous instances, such as the Bored Ape Yacht Club's $APE airdrop, led to a short term sell off.

The project which Azuki airdropped "Something Official" is already sitting at a 3.88 ETH floor. Each Azuki holder received two of these airdrops meaning that they were gifted two unrevealed NFTs with a combined value of 7.76 ETH which is roughly $25k.

Elsewhere, Bored Ape Yacht Club (110.69 ETH, +2.02%) and Mutant Ape Yacht Club (23.66 ETH, +4%) saw small gains as their floors crept upwards.

Kiwami Genesis (0.34 ETH, -31.03%) had another really bad day, this is the second day of falling floor price since the art was revealed, the project was trading at highs of 0.69 ETH before dumping over the past 2 days. Holders will be eager to find a level where support steps in and a consistent floor price can be found.

Biggest Purchases

🥇 #1) Ringers #226 bought for 175 ETH ($577,377.22)| Link

🥈 #2) Bored Ape #3052 bought for 159 ETH ($534,970.89)| Link

🥉 #3) Bored Ape #3738 bought for 155 ETH ($502,713.70)| Link

Latest NFT News

🚫 China's largest messaging app, WeChat, has suspended multiple high profile accounts linked to NFTs in order to prevent 'speculation' of digital assets. The platform stated that it had "rectified" accounts which it deemed to be promoting NFT speculation and market manipulation. Although the trading of cryptocurrencies is banned in China, there are no specific regulations against NFTs for now.

💻 Ex-OpenSea executive Nate Chastain, who resigned last September due to insider trading allegations, is to launch a new NFT trading platform named 'Oval' according to CoinDesk. According to the pitch deck presented, Oval aims to “providing users with more context and control over NFTs than any other consumer platform.” - Certainly one to keep an eye on!

Scam Warnings

❌ Multiple high profile discords have been hacked (this isn't an April fool!) - seemingly by the support ticket 'Ticketing Tool' being compromised and overriding admin permissions. Be careful when interacting with surprise links in legitimate discords!

❌ Bored Ape Yacht Club discord was briefly hacked.

❌ Doodles discord was briefly hacked - identifying the Ticketing Tool as a culprit.

❌ Kaiju Kingz discord was hacked.

Today's Biggest Drops

Take care when minting anything today in light of the hacks - always verify the link is real!

Arcade Public Sale:Socials: Discord - Twitter - WebsiteWhen: 1st April 23:00 EST / 04:00 GMTPrice:  3 ETH / 100 (multiple tiers below)Notes: Standard - 5,000 supply - 0.25 ETH | Large - 3,000 supply - 0.5 ETH | Extra Large - 1,900 supply - 0.75 ETH | Mega - 100 supply - 3 ETHHype: 🟩🟩⬛

Premint Collectors Pass:Socials: Twitter - WebsiteWhen: 1st April 13:00 EST / 18:00 GMTPrice:  0.25 ETH / 10,000Notes: The popular allowlist platform, Premint, is releasing a collectors pass which they state is 'access to a software platform we’re building for collectors'.Hype: 🟩⬛⬛

Tom Sachs Ticket to Mars Claim:Socials: Discord - Twitter - WebsiteWhen: 1st April 10:00 EST / 15:00 GMTPrice:  0 ETH / 10,000Notes: The Ticket to Mars platform is free (just pay gas). More information on how the tickets work can be found via this official Medium article.Hype: 🟩⬛⬛

Meme of the Day

Credit: (twitter.com/MoonOverlord)

That's all from us! Happy minting! 

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.