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Yuga Labs hires Christie’s NFT head to lead CryptoPunks

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Yuga Labs hires Christie’s NFT head to lead CryptoPunks

Yuga Labs hires Christie’s NFT head to lead CryptoPunks Oluwapelumi Adejumo · 12 hours ago · 2 min read

CryptoPunks NFTs are bucking the bear market as the floor price of the collection has risen by over 40% in the last seven days.

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Updated: June 20, 2022 at 2:18 pm

Cover art/illustration via CryptoSlate

👋 Want to work with us? CryptoSlate is hiring for a handful of positions!

The head of Non-fungible tokens at Christie’s, Noah Davis, announced that he will join Yuga Labs to lead the iconic CryptoPunks collection that Yuga Labs bought a few months ago.

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In a Twitter post, he revealed that he would be joining Yuga Labs as the Brand Lead for CryptoPunks.

I’m humbled and honored to announce I’ll be leaving my current post in July to steward the CryptoPunks as Brand Lead under the umbrella of @yugalabs before I say anything else it’s important to confirm what we WON’T be doing… simply put: I WILL NOT FUCK WITH THE PUNKS… 🧵👇🏻

— Noah (@NonFungibleNoah) June 19, 2022

He further promised that there would be no “rushed utilities or thoughtless airdrops” for the CryptoPunks collection.

Davis continued that the community would guide the direction of the CryptoPunk NFTs and said he was willing to meet Punk holders during the NFT NYC event.

Davis is a household name in the NFT space for his works at Christie’s — a traditional British auction house. He played a massive role in the auction of Beeple’s ‘The First 5,000 Days’ piece, which is the most valuable NFT at $69 million.

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Under him, Christie’s made $150 million in NFT sales in 2021.

Yuga Labs confirms Punk holders would have commercial rights soon

A tweet from Yuga Lab co-founder Garga has confirmed that Punk holders would quickly have the commercial rights to their NFTs.

We love CryptoPunks. It’s no secret that Matt and John’s creation was a massive inspiration for BAYC. @GordonGoner and I see Punks as fine art – a generative art experiment etched onto the blockchain, adopted by a diverse community that stuck around in 2018 when so many left.

— Garga.eth (@CryptoGarga) June 19, 2022

According to Garga, the goal has always been to transfer rights to holders. However, there was a need not to rush the process because of CryptoPunks’ status in the industry.

Garga also confirmed the hire of Noah Davis.

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CryptoPunks sees no bear market

The iconic NFT collection appears to be bucking the current bear market trend as it has witnessed a surge in its transaction volume and an increase in its floor price.

According to data from CryptoSlam, its transaction volume over the last 24 hours has declined by over 16%. However, it remains the most traded collection as it saw over $6 million in transactions during the time frame.

In the past seven days, the collection has had the second-highest sales volume, with over $22 million in sales.

Per nftpricefloor, CryptoPunks are currently trading at 68 ETH ($73,372) — up 10% in the last 24 hours and 40% over the previous seven days.

Posted In: Ethereum, NFTs

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30 day sales

Digital Collectible Downturn — NFT Sales Slid More Than 74% Lower Than The Month Prior

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Digital Collectible Downturn — NFT Sales Slid More Than 74% Lower Than The Month Prior

While digital currencies suffered this past month, non-fungible token (NFT) sales dropped by 74.44% during the last 30 days. Data shows that during the last seven days, NFT sales have slipped 17.33% lower than the sales recorded the week prior. NFT floor values for popular collections have rebounded this week in terms of ethereum value, but with ether’s exchange rate so low, blue chip NFTs are selling for a lot less than they did last month.

Data Shows NFT Sales Continue to Sink Lower

Coinciding with the crypto bear market, NFT sales and interest have been dragging. Google Trends (GT) worldwide data shows that this week the search term “NFT” has a score of 21 out of 100. The last time the search term “NFT” saw a GT score of 100 was the week of January 16-22, 2022. The past month has been brutal for NFT sales as the month prior saw $4.18 billion and 30 days later, $1.07 billion in sales has been recorded by cryptoslam.io metrics.

NFT sales during the last 30 days.

This past week’s NFT sales across 18 different blockchains saw approximately $184,417,851 in sales, but that’s 17.33% lower than the $223,085,710 recorded the week prior. $151 million of the NFTs sold this past week stemmed from the Ethereum blockchain network but ETH-based NFT sales slipped over 18% this week. Monthly ETH-based NFT sales are down 76.38%.

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Solana took the second largest number of sales this past week with $22.31 million sold, up 3.56% higher than the week before. Binance Smart Chain (BSC) was the third largest in terms of sales with $3.16 million, but BSC-based NFT sales slipped 32.45% lower this past week.

The top two most expensive NFT sales this past month.

Meanwhile, the NFT collection with the highest floor value is Bored Ape Yacht Club (BAYC) as the floor value is currently 90 ETH. 30 days ago, the BAYC floor value was 95.5 ETH, which is relatively the same amount in terms of ether price. However, 95.5 ether was $204K last month and 90 ETH today is worth roughly $97K.

The floor value of the Cryptopunks NFT collection jumped 40% during the past 24 hours to 66.65 ETH. The Cryptopunks floor value 30 days ago was 51.9 ETH worth $111K and today’s 66.65 ETH floor is worth $71K.

The most expensive NFT sale this past month was BAYC 7,537 which sold for 1,024 ETH five days ago. BAYC 7,537 was followed by Otherdeed 90,209 which sold for 235 ETH or $465K. The top 40 most expensive NFTs sold this past month stemmed from only three collections which include BAYC, Cryptopunks, and Otherdeed.

While BAYC 7,537 took the top position this week as well as the entire month, the second most expensive NFT sale during the last seven days was Cryptopunk 2,964 for 444 ETH or $440K.

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30 day sales, 30-day NFT sales, 7-day NFT sales, Bored Ape Yacht Club, cryptopunks, cryptoslam.io, Ethereum, Floor Values, MAYC, Monthly NFT data, Monthly NFT Sales, nft, NFT collection, NFT collections, NFT floor values, NFT sales, NFT sales volume, NFT weekly sales, NFTs, Non-fungible Token, Otherdeed, Otherdeeds, sales, Sales Volume

What do you think about the NFT market sales this past month and how the crypto bear market has been affecting the NFT industry? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits: Shutterstock, Pixabay, Wiki Commons, Photo Contributor Mundissima/ Shutterstock

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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blue chip NFTs

Blue Chip NFTs 101 – Let’s Travel To Space With The Doodles Collection

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Blue Chip NFTs 101 – Let’s Travel To Space With The Doodles Collection

Veterans of the NFT big leagues, the Doodles let the CryptoPunks and Bored Apes take the spotlight and have been constantly working behind the scenes. Even though they’re not a worldwide brand like the other two, everybody’s seen the Doodles. They just don’t remember when or where they saw those little drawings. Don’t let that fool you, though. The collection’s total sales are  $496M, according to CryptoSlam. So far. 

The generative collection consists of 10,000 Doodles that “are made up of hundreds of exciting visual traits designed by Burnt Toast” AKA Scott Martin. The other two members of the team are Evan Keast and Jordan Castro, who in 2017 were part of the company that rocked the world with CryptoKitties. The first NFT project to jam the Ethereum blockchain. This experienced team has been key to the project’s success and constant expansion.

The Doodles exude class through and through. Their smart contract is auditable, their roadmap is public, and anyone can easily find them on the project’s website. An example of great management by an experienced team is that the Doodles invented whitelisting for minting events. The team closed the Discord before minting and gave their first followers, the people who were there from the beginning, the chance to mint first. The community at large saw the move as a mistake, but they quickly realized how smart the system really was.

According to their website, “hand-drawn Doodles include skellys, cats, aliens, apes and mascots. The Doodles collection also includes dozens of rare heads, costumes, and colorways of the artist’s palette.” According to OpenSea, the current floor price for a Doodle is 9.7 ETH and the total volume sold by the whole collection is 133.3K ETH.

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The Doodles As A Governance Token

The project doesn’t contemplate NFT staking and it avoids the temptation of creating a new token for their ecosystem. The Doodles utility focuses on access to off the hook real-life events. More on that later. In the virtual world, though, they offer their holders new experiences like the Space Doodles and the Dooplicator. 

In addition to that, each Doodle is a sort-of governance token. A Doodle gives you voting and participation rights in the sort-of DAO that governs the whole project. The Doodle holders decide what to focus on next and control de community treasury, known as the DoodleBank. They have the right to vote on proposals, on the team and hiring, and on what to do in live events. Recently, they decided to fund a 3D Doodles project.

The communication flows through the project’s Discord channel. As it happens with most current NFT projects, this tool is a crucial part of the puzzle. For example, the Doodles server recently created a scam alert channel to protect the community from fraud and to have them monitor the internet for fake Doodles and people misrepresenting their brand.

ETH price chart on Bitstamp | Source: ETH/USD on TradingView.com

What Are The Space Doodles?

As a special benefit to holders, at no cost to them, they can wrap their Doodles and transform them into Space Doodles. These new NFTs put the original Doodle into a Spaceship and in a space-like environment. If you don’t like it or miss your PFP, you can always switch back to Doodles. You might not want to, though. According to Open Sea, the Space Doodles’ floor price is 11.8 ETH. Liquidity is another story, the total volume sold by the whole collection is 1.6K ETH.

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All art by Burnt Toast himself.

The company has also given the community free swag like the Dooplicator. At the time of writing, the floor price for these space backpacks is 2.79 ETH.

The Future Of This Blue Chip Collection

You’re only as good as your last hit, and for the Doodles that could be their real-life event in the South by Southwest festival. A warehouse painted with the collection’s characteristic pastel scheme, with screens everywhere, it was the talk of the town. They also distributed an NFT in association with paint manufacturers Behr and illustrated by Burnt Toast. Hopefully, it will be worth something one day. 

The point is, one of the objectives of Doodles as a company is to focus on live events and ultimately become an entertainment company. That’s great for holders that live in the US, it means that they’ll get access to a lot of events where the company will distribute secondary NFTs. It also means that Doodles will be constantly interacting with brands, artists, and other projects. That continuous activity will push the brand name out there. 

Another important benefit for holders is that Doodles plans to give them property rights. Eventually, people will be able to launch their own Doodle-related products for a small fee. Considering that Doodles is a top 10 NFT collection, we would say most of the marketing work is already done.

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Read other Blue Chip NFTs 101 guides: Moonbirds, DeGods, Proof Collective, and CloneX.

Featured Image: Screenshot from the site | Charts by TradingView

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BAYC

Bored Ape And Cryptopunk Values Wobble — During The Last Month, Blue-Chip NFT Floor Values Dropped Over 50%

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Bored Ape And Cryptopunk Values Wobble — During The Last Month, Blue-Chip NFT Floor Values Dropped Over 50%

While the crypto economy has dropped considerably in value during the last few weeks, seven-day statistics indicate non-fungible token (NFT) sales are down 17.32% lower than last week. Data also shows NFT floor values have tumbled a great deal during the past month as some of the most popular NFTs are selling for a lot less these days.

The Once Bubbly NFT Industry Faces Its First Crypto Bear Market, Non-Fungible Token Interest Is Down and Sales Slide

NFTs have made their mark over the last 12 months raking in billions of dollars in sales, but the NFT trend is currently experiencing its first crypto bear market. The market carnage during the past few weeks has taken a toll on NFT sales and the top floor prices stemming from some of the most popular collections.

Worldwide GT data covering the search query “NFT” from the week of January 16-22 to May 22-28, 2022.

Interest in non-fungible tokens has waned as the search query “NFT” has dropped significantly according to Google Trends (GT) data. During the week of January 16-22, worldwide GT data for the search term “NFT” hit the top score of 100, but this week the search query term is 25.

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While NFTs are still selling, weekly sales are down 17.32% lower than the week prior and NFT sales measured last week were down 64% lower than the week before. It’s safe to say by looking at market metrics, that the Terra LUNA and UST fiasco impacted the NFT space as well.

Last week a great number of blue-chip NFT collections saw floor values drop and today the values are much lower. Moreover, a few popular NFT collections reached all-time highs in terms of floor values just 34 days ago, and current statistics show they now sell for a lot less.

Bored Apes, Proof Collective, and Cryptopunks Are Selling for Less Than Half of What They Sold for Last Month

On April 23, 2022, the NFT collection called Proof Collective had a floor value of around 129 ether and at that time, a single ethereum was exchanging hands for $2,950 per unit. This means that 34 days ago, the least expensive Proof Collective NFT was around $380K.

The most expensive NFT floor values stemming from NFT collections like Bored Ape Yacht Club (BAYC), Proof Collective, and Cryptopunks have all dropped significantly during the past month.

On that same day, Bored Ape Yacht Club’s (BAYC) floor value was approximately 123 ETH or $362K using ether exchange rates that day. The least expensive Cryptopunks NFT had a price tag of around 59 ether on April 23, which was around $174K back then.

Today, the Proof Collective NFT collection has a floor value of around 75 ether, and using ETH values recorded on May 27, the least expensive Proof Collective NFT today is selling for $130K. The floor value of the BAYC collection is $153K on Friday or 87.98 ETH and Cryptopunks’ NFT floor is 46.5 ETH or $80K.

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34 days ago, Bored Ape Chemistry Club NFTs had a floor of around 45 ether and today, the lowest value is 39.5 ether. Similarly, Mutant Ape Yacht Club (MAYC) NFTs had a floor value of 33 ETH a month ago and today the lowest is 17.2 ether.

The Otherdeed NFT collection currently commands the top sales in terms of all the NFT collection sales this past week. Otherdeed sales amounted to $23 million during the last seven days but sales are down 14.52% lower than last week. One particular NFT collection called Goblintown, recorded $21.9 million in sales and jumped a whopping 1,744,444% higher than last week in terms of sales volume.

The top three most expensive NFTs sold this week stemmed from the Otherdeed NFT collection. Bored Ape #2664 was the fourth most expensive NFT sold at 199.99 ether ($390K) two days ago, and Cryptopunk #3764 was the fifth most expensive as it sold for 190 ether ($389K) four days ago.

In addition to the top three most expensive NFT collections in terms of floor value, non-fungible token collections like Clonex, Doodles, Azuki, Veefriends, Bored Ape Kennel Club, and more have all seen floor values drop much lower than the values recorded 34 days ago on April 23.

Tags in this story

BAYC, cryptopunks, Cryptopunks NFT sale, ETH, ether, Ethereum (ETH), Floor Values, Floor Values Drop, Goblintown, Google trends, GT Data, MAYC, nft, NFT collecting, NFT collection, NFT floor values, NFT sales, NFTs, Non-fungible Token, Non-Fungible Token Interest, Otherdeed, sales, Sales Volume

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What do you think about the NFT sales dropping and blue-chip NFT collections seeing their floor values drop lower? How do you envision the NFT industry faring in a crypto bear market? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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