A Trio of Updates
A trio of former blue chips carried a quiet week in NFT activity. Did you catch their updates?
Today’s top news includes:
Doodles Stoodio Launch
Cool Cats Announces Journeys S2
Moonbirds Diamond Exhibition Claim
Logie's Market Summary
Doodles, Cool Cats, and Moonbirds were all once darlings of the NFT market...but the trio of projects is among the most damaged since the bear market took hold of NFTs.
I don't need to show you the big red negative numbers to make an impact. I think these current floor prices will do the trick perfectly.
Doodles: 2.35 ETH
Cool Cats: 0.82 ETH
Moonbirds: 2.22 ETH
It would be easy to join the party stomping on the graves of these projects and laughing at all the blunders of their respective teams. It would be even easier to "x" out all their project updates and announcements.
But if you had done that, you'd have actually missed three quietly important announcements from the projects over the course of the last few days. And in the absence of other notable events in the space, I figured I’d make sure you got the chance to see them.
Doodles generated a ton of excitement when it first dropped its Dooplicator announcement and claim in May of last year. In fact, shortly after the claim started the Dooplicator floor price (2.875 ETH) was higher than the price the original Doodles NFT holds now...but it was a different market then.
Anyway, despite bubbling up more excitement over the course of last year, delays and poor communication started to turn things in the wrong direction. Sentiment started falling...and then well, Poopie said that thing. You know the thing about not being an NFT project?
But Doodles is still an NFT project, and it's still doing NFT things, including launching the beta version of its Doodles' Stoodio which is expected to take place later today.
The project hasn't shared anything official about the Stoodio, but it's expected to be the "home for all new Doodles experiences," including the custom building of Doodles 2 NFTs. I'm certain more details will be released later today, but I'm guessing you'll need a beta pass in order to make use of the Stoodio at launch. You can grab one on secondary for $30.
Cool Cats: Journeys Season 2
The project has been quietly building its IP in the background over the last few months and made a notable move when it partnered with Futureverse, which included a small equity swap as well.
Maybe it was from the learnings or frustrating experience of building Cooltopia, but it seems the project has fully committed to building characters, and not technical applications.
Perhaps the biggest update here is that the project is now down to just one of its founding members. In the last week, Tom and Lynq both stepped away from daily activities, joining Evan Luza who previously stepped away to work on Ghost Boy.
Moonbirds: Diamond Exhibition
Last but not least, Moonbirds has been in the spotlight in the last 24 hours with its Diamond Exhibition claim. The Diamond Exhibition was initially announced during PROOF's major ecosystem update, in which it doubled down on its commitment to art and making Moonbirds the "Art Collector's PFP."
And while the claim may have initially started as a positive experience for many who had the opportunity to grab works from artists like Beeple or Dirty Robot...those with multiple claim passes spoke out about a lack of randomness in redemption.
As a result, Moonbirds is now building a new smart contract to allow holders to exchange works from the Diamond Exhibition for a new piece.
Just when I felt like PROOF was starting to stack small victories...it seems they take another step back.
🚚 What Else Is Happening in NFTs?
Here is the list of other notable headlines from the day in NFTs:
Trading volume came in under 10,000 ETH on Thursday, another notable down day. OS Pro captured an 8% share, with Blur gaining a few percentage points to 61%.
RENGA released a handful of updates and promises to communicate outwardly more frequently with its new RENGA Report.
OnChainMonkey released details of its upcoming Bitcoin NFT drop, 300 members of the public will be selected for the allowlist.
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
The crypto market gained slightly on Wednesday; BTC up 1.1% at $29,300; ETH 1.5% at $1,912.
CoinDesk's Consensus Conference kicked off in Austin, TX. Lucky Trader's Tyler Warner hosted a panel!
🚀 NFT Total Volume
Azuki (1,304 ETH, 14.99 ETH Floor)
MAYC (940 ETH; 10.87 ETH)
DeGods (647 ETH, 7.99 ETH)
BAYC (641 ETH, 49.79 ETH)
Moonbirds (609 ETH, 2.39 ETH)
📈 NFT Floor Price Increase
Finiliar (55%, 0.22 ETH Floor)
Bond Bears (23%, 22.81 ETH)
OnChainMonkey (14%, 1.67 ETH)
Pixelmon (11%, 0.98 ETH)
Consortium Key (5%, 2.97 ETH)
🗓 Upcoming NFT Mints and Reveals
After a major day of drops, things are quieting down heading into the weekend.
Nina's Super Cool World Art Print (10:00 a.m. ET)
Quiet Quarry Runway by Stephy Fung (1:30 p.m. ET); 0.02 ETH
Doodles Stoodio (TBD)
Enjoy this write-up? Follow along with me on Twitter @lhitch09 or reach out via email email@example.com.
For all volume and floor price data, see Lucky Trader's Project Rankings page.
For all upcoming mints, see Lucky Trader's Project Schedule page.