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) |
Four years in the making, and now the week of the
Bitcoin halving is finally here. The market is anxious, excited, but most of all actively anticipating all of the change that comes with this halving. Let’s dive into what we’re in store for over the next four years. The Bitcoin halving is a milestone event that literally halves the amount of $BTC rewards that miners earn. Currently, miners earn 6.25 $BTC for processing a block of transactions, but after the 19th (or 20th, depending on how fast we get to
that block), rewards will be slashed in half to 3.125 $BTC. It’s a significant cut that will limit the supply of bitcoin that flows into the market, and in theory, drives the price of bitcoin up. After all, demand is only increasing as ETF approvals continue to roll in, this week in Hong Kong as both Bitcoin and Ethereum ETFs were approved. We have already discussed the Rune protocol that arrives with the Bitcoin halving this time, and the NFT market shows how eagerly traders are anticipating their arrival. Turn off the fungible token filter on CryptoSlam and you’ll see that 3 of our top ten collections in the past 24h are BRC20 collections. The red hot $WZRD token has traded for over $3.67M, $PUPS $3.11M, and $CATS $888.36K, and if we filter just Bitcoin collections, you’ll see a heck of a lot
more BRC20 volume than just those top 3. The broader NFT market is up 27.45% this week thanks to that extra heavy BRC20 sales volume, pushing global sales up to $307.40M in the past 7d. Sorry for making this Bitcoin-focused, but it’s clear what is responsible for this. And if you’re hoping more traditional NFTs were at least represented in the top-selling NFTs of the past week, all I can say is, hey, one day they will be again. At this point, the NFT community has grown, and for the most part celebrates success however it comes, on any chain it arrives on. After all, it’s great to see the NFT market thriving this spring after the funeral that was held for NFTs in the fall. Last week’s NFTs saw a whopping 45.64% increase from the first week of April. Sellers, buyers, and transactions all saw a significant pullback, as anxiousness builds leading up to the halving, but those pricey NFT sales offset the slower pace of sales. Trade profits are what keep the wheels of the market turning, and thankfully last week, traders saw a sharp increase in profits, to the tune of $8.15M. Next week’s NFTs On Deck should be interesting as we begin to find out how the halving impacts the NFT market. Will the halving and the Runes it brings with it drive up fees on Bitcoin, and throttle BRC20 and Ordinals trades? Will Bitcoin’s memecoin mania show that traders still refuse to trade traditional NFTs when fungible tokens are printing rewards for them? And maybe the question I’m wondering
above all is, will extra focus on memecoins on the grandfather chain bring in more liquidity into the ordinals ecosystem.
I’m anticipating the uncharted territory we’re finding our way into and what I’m really hoping is that half the rewards equals double the fun. Hey, I’m just a simple enjoyoor. 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! - Bitcoin is dominating the NFT market, and that’s without even talking about BRC20s. The general ordinals collection
is this week’s top-selling collection, as sales ramp up pre-halving to $51.46M, a 29.45% increase from last week.
- NodeMonkes and Bitcoin Puppets continue to battle for the highest floor price between the two. This week the Puppets (living in the Uncategorized Ordinals collection)
flipped the Nodemonke’s briefly before the Nodes reclaimed that crown.
- DMarket continues their steady top performance behind their Counterstrike, DOTA2, and Rust gaming skins. This past week they saw a 12.83% increase in sales as they locked up
the #3 spot with $7.05M.
- Polygon’s Dew marketplace launched the Origin Pass, which gives holders free NFTs, WL spots to projects launching on
their marketplace, airdrops, and even future tokens. Polygon now has a fresh Top Ten contender that saw over $5.29M in sales in the past week.
- The Bored Ape Yacht Club saw their prices fall to multi-year lows as sales briefly dipped into the single digits yesterday. The community, including Animoca
Brands’ Yat Siu rallied behind the iconic apes, buying 10 BAYC NFTs, and together with the community pushing the floor price back up to 11 ETH as of this morning.
- Bitcoin Wizards are the most surprising Top Ten entry this week, as the OG Bitcoin collection saw their sales rocket 1,508.36%. More info on this is below in the
Noteworthy Happenings section because they also have a BRC20 in the Top Ten, which makes it clear why the Wizards aren’t just magic.
- Bitcoin is the king of NFTs, and maybe it’s time to consider if it will ever
relinquish its crown again at this point. As the halving approaches, BRC20 sales are ripping, as are Ordinals. This past week Bitcoin saw $174.98M in sales, an increase of 68.15% from last week.
- Ethereum’s struggles continued during what was supposed to be an NFT bull market. The fact is, it is a bull market, but the action is happening mostly on
Bitcoin and L2s. Still, Ethereum finished the week with a respectable $59.18M in sales, a 4.02% decrease from last week.
- Solana, like Ethereum, continues to struggle compared to Bitcoin. But unlike Ethereum, Solana has a bit of an excuse. Solana’s failed transactions have hindered
both fungible token and NFT trading, but that should be a thing of the past after this week. The Solana blockchain will face downtime for an upgrade that will allow for more transactions, and hopefully bring the NFT market roaring back to life.
- Polygon came roaring back to life this week with a 135.44% increase in sales thanks to Dew’s Origin Pass, DraftKings’ $2.5M in sales, and MiniGirl which saw
$1.34M in sales.
- BRC-20s are the writing on the wall that Runes will rip when they launch later this week. $PUPS this week saw over $43.49M
in sales and was technically your 2nd highest-selling NFT collection this week if you include semi-fungible assets, while the Bitcoin Wizards’ $WZRD token was 3rd with $13.32M in sales.
- Sharx by Sharky.fi has had a massive resurgence this week as the OG 2022 Solana collection went from dormant for the past 18 months, to now seeing over $2.67M in sales in the past 7d. If you
guessed that the Sharkky.fi platform has a new token drop coming you guessed correctly.
- Lasogette on Ethereum, like Sharx, is a 2022 collection that has found newfound success in the past week. For this collection, it has nothing to do with a token.
Instead, traders realized that the collection comes from the very same team behind the Bitcoin Puppets on Bitcoin and that the collection will be migrated to Bitcoin in the future. In the past 7d the Lasogette collection saw over $2.97M in sales, a 549.71% increase from the prior week.
- Bored Ape prices briefly fell below 10 ETH, and now some are wondering if CryptoPunks are the next to plummet. While they’re still a whopping 39.99 $ETH as of this writing, sentiment around NFTs suggests that even the CryptoPunks could one day fall into the 20 or maybe even 10-15 ETH range. Personally, I only see that in a bear market. But, yes, I do see that happening.
- The Captainz and their Memecoin are getting in on the Rune action, now by allowing $MEME stakers on Stakeland to farm for the upcoming RSIC Rune Coin. This news is fresh,
so the news isn’t yet priced into The Captainz collection or $MEME’s price. I suspect it will be a different story next week, however.
Yikes. NFTs have yet again found themselves in a very tricky spot leading up to the Bitcoin halving. The Forkast 500 NFT Index reflects another week of massive losses, as the value of the market fell another -9.24% in the past 7d. The loss of
value again can be attributed to the very volatile crypto market, which saw $BTC lose -10.52% in the past week, $ETH -14.34%, $SOL -25.43%, $AVAX -30%, and you get the idea. On top of this, NFT floor prices continue to slide, setting up another perfect storm for the NFT market losing value. Still, I’d argue that
none of this matters until after the halving, and probably more like weeks after that. Fears of war and in the traditional investments world have us on shaky ground here on the blockchain, but with billions still flowing into Bitcoin, it’s pretty clear where we’re heading in the future.
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 |
Fungible is the opposite of non-fungible. It means replaceable, identical, and no difference between. While NFTs are non-fungible even if they have the same image, fungible tokens like Ether or Bitcoin truly have no difference. 1 Bitcoin = 1 Bitcoin and there’s no real way to tell the difference between
each.
The Ordinals creator has proposed a new fungible token called Runes and this week they finally go live. Make sure to brush up on what fungible means and how these items are used in everyday life.
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