Data collected on the most well recognized nonfungible token (NFT) projects show that critical metrics have dropped with floor prices and market capitalization in the past month. “Blue-chip” nonfungible token (NFT) collections have now seen their floor prices and market capitalization slide over the last 30 days, with some of the well-recognized projects halving in value for the key metrics.
The data acquired on key Ethereum NFT projects by DappRadar shows the floor prices of established collections like Mutant Ape Yacht Club (MAYC), Bored Ape Yacht Club (BAYC), CryptoPunks, and Moonbirds are mostly down by around 55% in the last 30 days.
MAYC is the worst off of the four, with the floor price plunging 55% to 16.7 Ether (ETH), or $31,300 at the time of publication. The more popular BAYC has lost more than 47% to 86.7 ETH, or $163,000, and CryptoPunks by nearly 49% to 45 ETH, $85,000.
The only collection to gain in the month was Moonbirds, up 22% with a 19.6 ETH floor price, which translates to around $37,000 at the time of publication. While the floor price for Moonbirds might be up, its market cap has lost 55% to $368 million.
The others have also tumbled, with the largest losses being the MAYC, down over 71% to under $610 million, while BAYC and CryptoPunks were down by around 62% and 51%, respectively.
Despite the dropping metrics, the collections continue to dominate the top NFT sales over the last 30 days, with the most expensive being a BAYC NFT going for 410 ETH on May 5, worth nearly $1.2 million at the time.
Free-To-Mint NFT Collection At The Top
A free-to-mint NFT collection known as Goblintown launched on May 22. As of May 30, it now commands an almost $50 million market cap and is in the top 30 NFT collections.
Despite the site stating that the NFTs have “No roadmap. No Discord. No utility,” Goblintown has come in second place for volume in the past seven days at almost $23 million, based on DappRadar data, beating out collections like Otherdeeds and the Bored Ape Yacht Club.
The collection comprises 9,999 goblins that debuted without any fanfare, marketing, or the normal hype-building for an NFT project. The Goblintown developers are not known and mostly post a seemingly nonsensical and crude tweets from the official Twitter account.
ₐₐₐᵤᵤᵤᵤgggg ₙᵤₘbᵤᵣ ₒₙₑ pic.twitter.com/eLGl6ASJXI
— goblintown.wtf (@goblintownwtf) May 22, 2022
Regardless of all these factors, the floor price of the collection was 2.7 ETH, which translates to nearly $5,000, on NFT marketplace OpenSea at the time of publication. The most expensive NFT that was sold from the collection has fetched a price of 69.4 ETH, around $130,000.
Imagine working on a NFT project for months, setting up collabs with the biggest projects/alpha groups, getting 200K followers engagement farming WL spot giveaways, then after mint everyone bricks the floor under mint price
goblintown: free mint, no collabs, no WL, no discord pic.twitter.com/bMiJoWufyg
— ashrobin (@ashrobinqt) May 22, 2022
Nike Gets ENS Domain
RTFKT, pronounced “artifact,” the Web3 segment of sportswear and sneaker giant Nike, has added an Ethereum Name Service (ENS) domain to the firm’s repertoire, acquiring “dotswoosh.eth” for 19.72 ETH, about $37,000 at publication time.
While it is not yet clear what use Nike will put the domain to, the firm has been investing in Web3 via the development of many sneaker-based NFT collections with RTFKT. It has even defended its claim to the space, taking a reseller of Nike NFT sneakers to court.
The acquisition of this latest ENS domain brings the cumulative owned ENS domains by the firm to ten.
Other Nifty News
The renowned move-to-earn NFT game STEPN has banned all China users from its app to adhere to regulations set in Beijing. Users in Mainland China make up 5% of the platform’s overall user base and STEPN’s founder has stated that the move will not have any considerable effect on the company’s finances.
The community for a Solana NFT game has offered payback to a scammer after the developer of the game got royalties to 98% on a batch of nonfungible tokens stolen in a Discord hack phishing scam. Community members acquired back the NFTs to return them to their original owners while the hacker made a meagre 2% on every sale.
