CryptoSlam is evolving, and we’re releasing our first-ever NFT collection, arriving on the Solana blockchain this month.
These are not your typical NFTs. At CryptoSlam, we’re all about the numbers, so this NFT collection will bring points, power-ups, perks, and more. If you’re worried about another expensive NFT mint, don’t be, because our NFT collection will be completely FREE.
As we gear up for the NFT launch, CryptoSlam is partnering with some of the
biggest NFT projects and platforms to bring their communities into the CryptoSlam ecosystem.
Magic Eden, CyberKongz, NeoTokyo, Cool Cats, The Fracture, Subber, Pizza Ninjas, Dokyo, Bitcoin Frogs, and many more will be part of our official CryptoSlam Preseason Whitelist, and their NFT holders will soon be able to mint one of CryptoSlams first ever NFTs.
We are grateful for your years of support, so make sure to keep your eyes on your inbox for an upcoming opportunity to join the CryptoSlam NFT Whitelist raffle.
For the Love of the Game (Market Commentary) |
We’re now a quarter of the way through the year, and I
just have to ask, where is the NFT bull run?
Sure we’ve seen months of solid sales volume, and a couple of random weeks where NFTs were ready to take off. But traders have been so enticed by memecoins, that they instantly moved their NFT gains right into the memecoin slot machine.
Maybe it’s time to be honest and say that a NFT run might not happen in the way we were expecting. At least on Ethereum. On
Bitcoin, ordinals are doing just fine, and I have little doubt about how the top collectibles in that ecosystem will play out. But on Ethereum, what is the catalyst for traders to return to NFTs? I hate to say it, but it’s probably memecoins.
Last week we saw the MFers founder, Sartoshi, launch a memecoin on Base called $MFER. On the same day, the Doodles co-founder Poopie launched his
own token on Base called, you guessed it, $POOP.
Study what’s happening on Solana with $wif, and that ecosystem’s record-setting $58B in DeFi volume last month. Study the memecoin explosion on Base, and then you must study the NFT touching coins like $POOP, $MFER, $PANDORA, $BUBBLE, the upcoming $RCADE, $ANIME, and an ever-growing list of new project tokens this year. The point here is, that traders want tokens, projects are now ready to deliver them, and it seems that if NFT projects want to grab attention, they must deliver fungible tokens. Even major projects like Pudgy Penguins and Mad Lads which have no tokens are keeping a steady stream of tokens coming to their holders'
wallets. Ethereum’s top NFT collection of 2024 is the Pandora 404 collection,
which gives holders both an NFT and a fungible token. So far Pandora has over $180M in sales, topping the CryptoPunks’ 2024 sales by over $65M, and giving us our clearest evidence yet of what this year’s NFT cycle will look like. On Bitcoin, the Ordinals collection with the 2nd highest market cap is also a memecoin touching project called Runecoin with a 4.9K BTC MC. It’s behind only the CryptoPunks of Bitcoin, Nodemonkes, who currently have a 5.1K MC. If you can’t beat them, join them, and the meta is now clear, if NFT collections hope to thrive this year, they must release a token. As you
saw above, Solana last month saw over $58B in DeFi volume. Compared to what we’re seeing in the NFT market, you could almost argue that NFTs are once again dead with just $226.76M in sales. It wasn’t all bad news in NFTs last week though, as sellers, buyers, and transactions were all well up. The patterns
are becoming clear, cheaper NFTs usually attract more trading action, and last week was no exception. Transactions were up almost 15%, sellers up 25%, and buyers up a whopping 55%. Still, NFTs could use a spark. Whether that’s with memecoins, or with some hot news breaking from NFT NYC this week, we’re all hoping for something to bring back the NFT meta. There are a couple of things we must consider; did the bear market change how people view NFTs to the point that they’d now rather trade memecoins,
and if they are going to collect an NFT, would they rather have it on the mother chain, Bitcoin?
Both are a real possibility. NHL Breakaway, the National Hockey League's venture into sports digital collectibles, in partnership with Sweet, features exciting new ways to re-live old-school collecting. The platform delivers an immersive experience featuring some of
the most recognizable and iconic highlights in NHL history and now is the chance to get in early and claim your free pack to get you started.
The platform features highlights of NHL legends past, present and future with top names like Gretzky, McDavid, Howe, Bedard, Matthews, Lemieux, Ovechkin, and more. Collect Series 1 debuts and rookie highlights. Visit the Trade Lounge and
swap highlights with the community for the ones you want. Check out the most recent drops or head over to the marketplace to collect your favorite players and teams. And if you love “autograph hunting” check out one of the most fun features out there in sports digital collectibles, Signature Quests, for that unique crafting experience. Get started and claim your free pack today! - Mad Lads are soaring with $7.7M in sales and is the only top ten PFP NFT collection to see their sales volume increase this week thanks to their steady stream of token
allocations for holders. From $WEN, to Wormhole’s $W token, the lads are stacking wins. We’re excited to announce that the Mad Lads are also CryptoSlam NFT Whistlist partners as well!
- Bored Ape Yacht Club has been your top NFT collection on Ethereum over the past 7d largely due to their price falling to a new low of around 11 $ETH. In the
past week, the BAYC has seen $7.1M in sales as many collectors, for the first time, enter the #1 community in Web3.
- NodeMonkes, while still one of Bitcoin’s top Ordinals collections, saw a -35.04% decline in sales as traders searched for liquidy for the brand new INK and 0n1 Force
mints last week. We’re also seeing traders rotate into Rune facing collections like RSIC and Runestones.
- Bitcoin is your top blockchain by sales volume with over $73.1M in sales and a
21.50% increase in buyers. $BTC volatility means that even with an increase in activity, prices can still fall. Expect much more volatility for the weeks and months surrounding the Bitcoin halving.
- Ethereum sales fell -19.30% to $72.1M, but like Bitcoin, it’s $ETH’s price volatility that is the main factor for the decrease in sales. Still, buyers increased
17.44%, while transactions climbed 5%.
- Solana also saw a major increase in activity with buyers up 31.10% in the past 7d. Sales fell just -1.52% to $44.65M, as the Solana memecoin ecosystem is bringing
more and more traders closer to Solan NFTs.
- Mythos Chain leapfrogged Polygon this week thanks to strong sales in the DMarket marketplace. DMarket’s $7.1M represents over 97% of Mythos Chain’s total weekly sales.
Promotional artwork for Azuki Elementals. Image: Chiru Labs - Azuki NFTs are benefiting from not just the hot anime meta across all blockchains, but also from the news that Azuki is building an AnimeChain on Arbitrum. Azuki’s sales are
up 44.45% in the past 7d to $2.7M.
- Mocaverse is one of the week’s top gainers thanks to the imminent arrival of their $MOCA token. Mocaverse NFT sales are up 262.63% to $2.4M in the past
7d.
- Persona is double dipping in the metas, benefitting from being a hot anime project, and also from the token meta as they gear up for their upcoming $UNA token. Personal
NFT sales are up 388.35% in the past week to $2.1M
- MFER’s aren’t just an OG CC0 collection, but they’re also just as cool as ever, evidenced by their plunge into the token meta. MFER founder Sartoshi stealth launched a new
$MFER memecoin on the Base blockchain, leading to the NFT collection’s $1.6M in sales, a 722.69% increase from the prior week.
- Add RGBytes to the growing list of NFT collections with an upcoming token. Their upcoming $RCADE token will power their gaming
ecosystem, and at the same time has supercharged their NFT sales, with sales up 1,090% to $1.05M in the past week.
The Forkast 500 NFT Index reflects that the NFT market is up 0.48% in the past 7d. But how can that be with most of the crypto market down 5-10% in the past week, and floor prices are tumbling again right along with it?
It's all about which NFT collections are down, and which are not. The index measures the value of the top 500 NFT collections, so the index is up in conditions like this is a signal that collectors are consolidating to the core 500 collections. Whether that means traders are finding value in those top collections, or it’s a move to safer assets is unclear. With volatility being the narrative over the next few months due to the Bitcoin halving, it’s worth studying the
Index to watch traders’ behaviors.
Be smart and keep your finger on the pulse of this market, by keeping your eyes on CryptoSlam and the indexes. You can stay plugged in by fixing your vision on our daily NFT market updates and live show with Inside NFTs.
Have a MEGA GM! — Yehudah Petscher |
Runes are a new protocol on Bitcoin that will attempt to bring memecoins to the OG blockchain. Previous efforts to shoehorn in memecoins most recently include BRC-20s, which were liked, but clunky. Now the founder of Ordinals, Casey Rodarmor, has implemented the final version of Runes in Sunday’s Ordinals protocol
release, and Runes will officially be live when the Bitcoin halving arrives.
Memecoins on Bitcoin will almost certainly bring opportunities, and of course, fun, so make sure to dive into the new technology so you’re ready for it this month. Happy researching! Received this from a friend? Sign
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