Weekly NFT Update (Week 17, 27/04/2022 – 03/05/2022)

Goldman Sachs explores using NFTs for real assets, financial instruments. OpenSea accepts ApeCoin as a payment method. Angel City FC launches its 1st NFT collection in partnership with Crypto.com.

Key Takeaways

• Goldman Sachs said it is exploring the use of non-fungible tokens (NFT), particularly the tokenisation of real assets. The global investment bank is looking into NFTs in the context of financial instruments, believing that is where the power is.
• Leading NFT marketplace OpenSea has started accepting ApeCoin (APE) as a payment method. APE, the main token for the Bored Ape Yacht Club ecosystem, is now 22nd in the top cryptocurrency rankings based on market capitalisation.
• Angel City FC has announced the launch of its first NFT collection, the ACFC Inaugural Fan Pass Collection, in partnership with club founding partner Crypto.com. 
• LooksRare recorded -16% and -7% decreases in sales and transactions respectively. OpenSea recorded a +26% increase in sales and a -30% drop in transactions.

Crypto.com NFT in the Spotlight

• Tattoo artist Jesse Smith created a fictitious continent called ‘Carkayous’ in 2009 to contain all of his tattoos and art. The next adventure on the docket is to Durken Forest (Expedition 8 – “The Blooming of the Psilofish”), where we will explore a massive tattoo artist mega collaboration led by him. Each artist brought life to their own creature living in this forest.
• UFC® has partnered with Crypto.com to release a seventh NFT collection, featuring fighters from the ‘UFC 274’ event. Taking place at Footprint Center in Phoenix, Arizona on 7 May 2022, it is headlined by Oliveira vs Gathje for the Lightweight Championship title, and Namajunas vs Esparja for the Women’s Strawweight Championship title.

Highlights

• Ethereum user spends US$44,000 in gas fees to mint Bored Ape ‘Otherside’ NFTs
• ApeCoin (APE) hits a new all-time high ahead of this week’s Otherside land auction
• Yuga Labs sees US$561M in Otherside Ethereum NFT sales within 24 hours
• Okay Bears NFTs record sellout help Solana net US$2B in sales
• NFTs emerge as a portfolio saver amid crypto market downturn
• NFT market’s total trading volume tops US$55B
• MoonPay to provide crypto-processing for OneOf ‘green’ NFTs
• BAYC’s 24-H volume exceeds US$52M; floor price hits record high of 150 ETH
• K11 MUSEA holds a large-scale NFT art exhibition
• SuperRare to open curated NFT gallery in New York City
• VanEck announces launch of community NFT, first NFT
• Crypto exchange Kraken to roll out NFT marketplace

Transaction Volume Benchmark

Top Collectibles

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

Upcoming NFT Sales

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

Top Artists

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