👕 Luxury Prada NFTs Set To Release! - 31st May, 2022

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24hr Market Overview 📈

NFT Market Recap

On Monday, Opensea traded $26.74 million, close to the lows of the month. Despite the very low volume, prices trended positively as the crypto markets bounced, which was encouraging to see.

Azuki (11.75 ETH, +7.8%) saw a strong bounce after falling to lows of 8.8 ETH recently, for now, I believe this is a fairer valuation for Azuki with its strong brand, despite recent controversy.

goblintown.wtf (3.11 ETH, +17%) also had another positive day and has now trended upwards for most of the week. Some of Crypto Twitter has been wanting the goblintown team to add more utility to the project in the belief that it will make the project's floor price more sustainable. Here was golbintowns response.

As a meme project, it would be very hard to add actual valuable utility to a project. We have seen other NFT projects try to add utility, but simple staking and breeding or other attempts of utility often come off as gimmicks and don't add real long-term value to a collection. The team seems to understand this and for now, responded with a meme.

Other movement on ETH that we've seen includes:

• Moonbirds | 21.99 ETH, +18.1% (Dumped over the past week but a decent bounce)

• Cool Cats | 3.75 ETH, +16.2% (I'd love to see Cool Cats back above 5 ETH)

• Chimpers | 2.74 ETH, +40.7%

In the SOL space, movements were more varied.

Trippin' Ape Tribe, the project which launched last week and had incredible levels of hype saw a fall in floor price, currently trading at 28.9 SOL, down -8.25% in the past 24 hours. GhostKidDAO (12 SOL, -19.73%) also saw a retracement after its pump yesterday.

Meanwhile, Xth Street Terriers (1.5 SOL, +87.5%) has pumped pretty hard over the past few days, and was sitting at just 0.4 SOL yesterday morning, this is just one of many pixel art projects we have seen pump on SOL recently.

Overall an interesting day, it was great to see more upwards momentum despite low volume.

Today is also the final day in May, tomorrow we will have a fuller picture of the month's stats.

Biggest Purchases

🥇 #1)  Bored Ape #2309 bought for 170 ETH ($338,713.69)| Link

🥈 #2)  Otherdeed #63972 bought for 175 ETH ($331,869.84)| Link

🥉 #3)  Bored Ape #3356 bought for 144 ETH ($275,518.28)| Link

Latest NFT News 📰

👕 According to Decrypt, luxury fashion house, Prada will be launching a collection of 100 NFTs this coming Thursday to accompany their latest 'Timecapsule' fashion collection, by son of artist Damien Hirst, Cassius Hirst. Buyers of the physical apparel from the Prada collection will receive a free airdropped NFT.

Today's Biggest Drops 👀

Local Weather Society Allow List:Socials: Discord - Twitter - WebsiteWhen: 31st May 18:00 EST / 23:00 GMTPrice:  0.1495 ETH / 18,888Notes: Mind + Body Hydration Brand Founded by Russell Wilson, AJ Vaynerchuk, and H+S Labs. Public mint will take place 24hrs after the Allow List.Hype: 🟩🟩⬛

Credit: (twitter.com/gainzyxbt)

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.