M6 Labs NFT Weekly

GM, Anon! What an eventful week it has been! Farcaster experienced a surge in activity, and the introduction of the new standard ERC-404 is making significant changes. As for BTC, it seems to have resumed its upward trajectory, ATHs incoming? Let’s dive in!

Project Updates

• NFTPerp, a DEX specializing in perpetual futures for NFTs, concluded its Grants funding round, with support from the Arbitrum Foundation. The specific amount raised in the funding round has not been disclosed.

• Saltwater Games, a web3 gaming enterprise, secured $5.50M in a Seed funding round. Deus X Capital and Fourth Revolution Capital (4RC) participated in the investment.

• Binance list RON.

• Floor V2 is LIVE with 15 ETH Sweeps

• Sudoswap is now live on Base

• Art Blocks acquired the Sansa marketplace.

• Mastercard's new UEFA Champions League game offers cardholders the chance to win tickets using NFT passes.

• 'Doom' expands its range by running on Bitcoin, Dogecoin, and even gut bacteria.

• A judge dismisses Ryder Ripps' counterclaims against Yuga Labs and orders him and Jeremy Cahen to pay nearly $9M in compensation to the digital collectible company.

• Pudgy Penguins partners with Magic Eden as their preferred marketplace.

• GameStop tribute meme coin on Solana experiences a 52% plunge amidst GME crash.

• Vitalik Buterin stated: "Bad gamefi is using financial speculation as a substitute for fun. Blockchain games need to be fun as games" - approx quote I've said many times

Blue Chip and Market Overview

Over the last seven days, there have been some notable developments in trading volume. Nobody has surged to the top of the charts, with DeGods following closely in second place. Meanwhile, BAYC continues to linger towards the lower end of the list.

Art collections within the NFT market have experienced predominantly negative volumes over the past seven days. This segment of the market attracts traders with a specific interest in niche artwork, and it tends to be highly speculative, even more so than traditional NFTs. During the last bull run, art collections in this market sector witnessed significant surges in prices, reaching incredible highs. It will be intriguing to observe whether a similar trend occurs once again.

Exciting developments in the gaming NFT ecosystem involve the sustained interest in Pixelmon and Pixels. There's speculation about whether either of these projects will claim the top spot in the coming weeks.

Following the recent sale of Quantum Cats, the collection has surged to the top position in terms of volume, experiencing a remarkable 3x increase in mint price. Similarly, Bitcoin Puppets have exhibited strong performance, with their floor price steadily rising.