💸 FLOW Announced $725 MILLION Web3 Fund! - 15th May, 2022

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24hr Market Overview 📈

NFT Market Recap

On Saturday, Opensea traded $60.56 million in volume, very similar to yesterday's low levels as the market recovers from last week's frenzy.

Whilst most projects saw small gains, PXN: Ghost Division which revealed its art yesterday witnessed a swift drop in floor price. Project PXN is now trading at 2.5 ETH, down 32% from pre-launch. Whilst it's pretty usual for projects to witness a drop in floor price after an art reveal, yesterday's dump was fuelled by FUD after users noticed many parts of the collection, mainly 1/1s could be potential copyright infringements.

Not only does copyright infringement look bad for a project, it comes with the very real threat that Opensea could delist the project if one of the companies who own the copyright decides to pursue it (which has happened in the past).

The project's response came in the form of a blog post, which you can read here. Ye proposed that an art rework would be completed on those legendary's which had problems, with 10 ETH in compensation given to the holder whilst they wait for their new artwork. The project does have strong art and whilst copyright infringement is bad, it was clear that most of these legendaries were homages to the original characters. I think this FUD will pass.

One project that witnessed a pump yesterday on SOL was Okay Bears. Okay Bears had been a huge success on launch (the project seems to have huge insider backing) however the floor had dropped after the markets dumped last week.

The pump came after Faze Banks acquired 20 and tweeted his support, followed by many other influencers, this caused the floor to shoot up from 90 SOL to 198 SOL in just hours, a 120% increase.

Other projects with notable movements yesterday include:

• Doodles | 14.69 ETH, +5%

• VeeFriends | 7.98 ETH, +10.22%

• Milady Maker | 0.69 ETH, +25.68%

• Azuki | 13.95 ETH, +4.10%

• Degen Toonz | 1.1 ETH, +25.71%

Biggest Purchases

🥇 #1)  Bored Ape #7265 bought for 200 ETH ($402,865.44)| Link

🥈 #2)  CryptoPunk 7569 bought for 190 ETH ($383,878.35)| Link

🥉 #3)  Bored Ape #8597 bought for 109 ETH ($218,806.02)| Link

Latest NFT News 📰

📈 Flow Blockchain has announced the launch of a $725 million fund to support the performance of its ecosystem to focus primarily on Web3 gaming and infrastructure. Whilst some of the fund will be used for grants for around 7,500 developers, the majority will be used for 'investment capital' as per the Flow CEO Roham Gharegozlou.

Today's Biggest Drops 👀

GENE_SIS Raffle:Socials: Discord - Twitter - WebsiteWhen: 15th May 12:00 EST / 17:00 GMTPrice:  0.2 ETH / 10,000Notes: Raffle winners will be chosen 1 hour before mint time and winners will have a 24 hour period to mint. Hype: 🟩🟩⬛

Meme of the Day 🤣

Credit: (twitter.com/sartoshi_nft)

That's all from us! Happy minting!

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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.