Weekly NFT Update (Week 8, 23/02/2022 – 01/03/2022)

Rakuten launches their own NFT marketplace. USD 8 million dollar loan collateralised by anonymous NFT collection. Celebrate UFC 272 with new NFT collection.

Key Takeaways

• On Monday, KPMG Canada shared with the public that it has bought an NFT from the World of Women collection. They said that this move was to “better inform how it advised clients looking into the space” and is subsequent to its latest announcement that it had added Ether (ETH) and Bitcoin (BTC) to its balance sheet. 
• Japanese e-commerce giant Rakuten recently announced that it has launched its own NFT platform, a dedicated marketplace that allows selling and trading of virtual assets based on Japanese manga and TV shows, and allows IP holders to build their own websites in issuance of NFTs.
• An anonymous borrower took out an $8 million loan that’s collateralised by their NFT collection. Facilitated by liquidity scaling solution MetaStreet, the transaction was said to have used CryptoPunks NFTs and was billed as the largest-ever NFT-backed loan put up as a collateral to date. 
• LooksRare recorded a -34% decrease in sales and a -20% drop in transactions. OpenSea recorded a -22% decrease in sales and a -10% drop in transactions.

Crypto.com NFT in the Spotlight

• UFC has partnered with Crypto.com to release its fifth NFT collection, ‘UFC 272’, featuring a blockbuster fight of one of the organisation’s fiercest rivalries, Covington vs Masvidal, who will finally be going up against each other at UFC 272 on 6 March 2022. The drop includes 3,000 NFTs that vary in rarity, featuring limited edition shards, posters, and outcome cards based on UFC 272.
• In her third drop called ‘Celebrations’, digital artist Natacha Einat is sharing her favourite visual metaphors, created with animals. She aims to give a positive perspective of the world with each piece being a celebration of life. She explores magic lands and plays with animals and their surroundings, to convey a feeling of balance and harmony. This collection is inspired by her journey as an artist, discovering passion, motivation, and gratitude. Find and do what you love with all your heart, believe in yourself, especially before anybody else believes in you.
• ‘I Am Monitorman’ is a series of 3D renders focusing on the journey of “MonitorMan“, an original character designed by Hardstyle and Hard Dance music Producer Luqu Chaos for his upcoming animation project. This series of renders uses a combination of both 3D and cel-shaded techniques to imitate the modern anime style.

Highlights

• South Korea to invest $187M in national Metaverse project
• There’s a vending machine in New York City selling Solana NFTs
• Warner Music Group inks partnership with blockchain gaming developer
• Solana NFT marketplace Magic Eden is airdropping tokens, launching DAO
• OneOf expands sports NFT presence with new collection on Polygon
• Solana, Pantera Capital, NBA owners invest in NFT fantasy basketball game
• OpenSea disables features temporarily as contract migration completes
• RPG blockchain game re-draws traditional rules by letting their community take the reigns
• Worldspark Studios raises $3M for NFT games from Riot, Bungie veterans
• Monster Energy files for four NFT and metaverse trademarks
• Shiba Inu ($SHIB) to release 99,000 plots of land on its Metaverse
• Company auctions 1-of-1 Topps 1952 Mickey Mantle Card NFT in what may be the highest valued sports NFT to date
• Sotheby’s scraps CryptoPunks lot minutes before auction
• Associated Press pulls sale of migrant boat NFT after backlash
• $70 Million Later, Pixelmon’s founder calls artwork reveal ‘a horrible mistake’

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 (by market cap) and a sample of their art.

Project Name	Sale Date	Price (ETH)	Items	Market Cap (ETH)	Sample
Lunar Colony Alpha	3 Mar 2022	0.08	10,000	800
M101 Shelter	13 Mar 2022	0.06	7,000	420
Groovy Owl Society	20 Mar 2022	0.04	10,000	400

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)	Sample
Crypto.com NFT	Travis Ragdale	$2,000,000+
Solanart	Degenerate Ape Academy	$201,254
OpenSea	Invisible Friends	$74.12M