Daily NFT/Crypto Market Update - 11/6/2022 | A Thread 🧵🧵🧵
After some consolidation yesterday in the crypto market, we saw some small dips today especially in the two major cryptocurrencies Bitcoin and Ethereum. BTC is under 21k again while ETH is under 1.6k.
1/ NFTs had a better day in terms of activity in the market with degen plays making a bit of a comeback. We had quite a few projects top over 4k sales for the day so thats a great sign.
2/ Degen/free mint of the day: TSUKIMI NFT
@TsukimiLoft is a 5555 supply NFT that sold out today. Getting plenty of attention with over 5000 sales on secondary, this made minters small profits as the floor rests at just above 0.02 ETH. Tsukimi is a project thats been
3/ around for a while with amazing art. These @TsukimiLoft are utility backed PFPs that plan to have things like staking, a governance DAO and a metaverse. Art is stellar imo, but we will see whether the team can deliver.
4/ PPAPE AMERICAN GOTHIC
@PPAPE_IO American Gothic is 10k free mint that has gotten lots of traction already. With not even half the supply minted yet, this has already gotten close to 2000 sales on secondary and peaked at a 0.09 ETH floor.
5/ @PPAPE_IO is a BAYC and American Gothic art piece derivative with a cool crafting feature. This will let holders combine their NFTs to create customizable ape couples. Keep an eye on this as it gets to public mint and sellout.
6/ GALACTIC EXPLORERS OFFICIAL MINT
@GExplorersNFT is an 8888 supply project that saw a bunch of attention today. Getting around 9000 sales on secondary, this unfortunately has been struggling to paperhands as the floor sits at 0.01 ETH.
7/ @GExplorersNFT is a community project that has some cool art with a style that reminds me of Cereal Club. It looks like staking will be involved, so if this can gain momentum going into tomorrow then keep an eye on this.
8/ OVERALL THOUGHTS
With crypto going down a bit, we have actually seen a sort of revival with NFTs and degen plays. People seem to be more willing to go into low-liquidity plays as seen with the multiple projects taking in 3000+ sales days.
9/ While we are still in an especially risky time, if we can keep this up then we may see some more profit opportunities arise again. Thanks for reading and have a great day Kings. Follow if you enjoyed! 💵👑This post is based on this twitter thread.