Key Takeaways

Instagram will begin testing non-fungible tokens (NFTs) this week, Meta Chief Executive Officer Mark Zuckerberg said on Monday. The social media platform owned by Meta will not charge users for showcasing their crypto art.
Hong Kong’s K11 and K11 MUSEA malls are hosting three events to showcase NFTs as art. More than 200 NFT pieces by over 30 artists and projects are on display across the nine floors of the mall under the title Metavision.
Crypto.com is set to create the first-of-its-kind collection of NFTs generated in real-time by the speed, sound, and data of the Formula 1 Crypto.com Miami Grand Prix.
LooksRare recorded a -10% decrease in sales and an +8% increase in transactions. OpenSea recorded -45% and -12% decreases in sales and transactions.

Crypto.com NFT in the Spotlight

Crypto.com NFT drops the Cyber Cubs — the first derivative collection of the Loaded Lions project, which features 10,000 randomly generated ‘Cyber Cub’ NFTs with varying levels of rarity. Starting from 17 May 2022, one ‘Cyber Cub Pack’ will be randomly airdropped for every ‘Loaded Lion’ NFT owned, and Mane Netizens can unwrap the packs to reveal their very own ‘Cyber Cub’ NFT.
Upcoming drop Wonderverse is that magical and surreal place where our unconscious senses and dreams merge together entering into the metaverse. This drop features a special edition NFT giveaway created by the artist. In order to qualify, collectors must hold a copy of any item listed in the drop 24h after the drop ends.

Highlights

Transaction Volume Benchmark

* Week-on-Week (WoW) % change is calculated based on the differences between two subsequent 7-day periods.
* Year-to-Date (YTD) volume is calculated from the first day of the current year to the current date.
* Transaction count & average price refers to the number of traders and average price of the 7-day period.
* LooksRare launched on 10 January 2022
* X2Y2 launched on 16 February 2022
* Magic Eden data refers to on-chain activity of the tracked smart contracts

* LooksRare, OpenSea, Coinbase data from Dune Analytics
* X2Y2, NBA Top Shot, Magic Eden, Solanart data from DappRadar

Top Collectibles

* Collectibles data from CryptoSlam.io

The following chart shows selected top NFTs and their historical floor prices.

Upcoming NFT Sales

The following table shows the top upcoming NFT sales and a sample of their art.

Project Name	Sale Date	Price	Items	Market Cap
Squid Academy	17 May 2022	1 (SOL)	10,456	10,456 (SOL)
Zelenskyy NFT Club	21 May 2022	0.4 (ETH)	8,888	3,555 (ETH)
Xkart Racing	25 May 2022	2 (AVAX)	5,000	10,000 (AVAX)
Fancy Fox Association	1 Jun 2022	0.8 (SOL)	9,189	7,351 (SOL)
Sentoki	12 May 2022	0.18 (SOL)	2,888	520 (SOL)
Creative Friendz	13 May 2022	0.06 (ETH)	8,888	533 (ETH)

* Collectibles data from Rarity Tools, Crypto.com

Top Artists

The following table shows selected top artists (by sales volume on each platform) and a sample of their art.

Platform	Artist	Sales Volume (USD)
Crypto.com NFT	The TRIP: Genesis	$1.7M
Solanart	Degenerate Ape Academy	$49,583
OpenSea	Otherdeed for Otherside	$115.6M

11 May 2022|MARKET UPDATES

Weekly NFT Update (Week 18, 04/05/2022 – 10/05/2022)

Instagram begins to test support for NFTs. Two Hong Kong malls exhibit NFTs in three art events. Crypto.com is creating the Formula 1 Crypto.com Miami Grand Prix NFT collection.

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