Dec 15, 2022

[NFT Weekly] Pudgy Penguins, Starbucks Odyssey, Lawsuit Against Yuga Labs & On-chain Analysis

Translated by elcreto
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Top NFT Floor Price

  • Azuki, Cool Cats, MAYC, and Solana Monkey Business are leading the pack of high-performing PFP collections.
  • MetaKongz’s floor price has deflated back to where it used to be before anticipation for closure of the dispute over the control of the company set in.

NFT Market News

Starbucks Odyssey Beta Is Now Live - Link

  • Starbucks launched the beta version of Odyssey on Dec 8, 2022.
  • The members of Starbucks Odyssey can participate in “Journeys” and collect “Journey Stamp” NFTs and Odyssey Points to advance to a higher level, unlocking access to more perks. The NFTs can be bought and sold in the Starbucks Odyssey market.
  • Minted on the Polygon PoS chain, the NFTs can be purchased directly with a credit card in lieu of crypto wallet or cryptocurrency.
  • Seeing that a virtual tour of Starbucks coffee farm and interactive game Starbucks for Life are chosen as the quests of the “Journeys,” the launch of the Web3-powered loyalty rewards program marks the US coffee giant’s growing focus on online purchases.

Decentraland LAND Owners Can Now Rent their Virtual Land NFTs - Link

  • LAND holders can set the rental price and period and tenants can pay the rental fees with $MANA.
  • Though the demand for the lease of LAND may not be significant, the new feature is meaningful in that it can give a boost to the virtual real estate property market.

Yuga Labs Faces Class Action Lawsuit Link

  • John T. Jasnoch of Scott+Scott Attorneys filed the lawsuit, claiming that Yuga Labs improperly used its Hollywood network and celebrity endorsements to pump the value of BAYC NFTs without complying with disclosure requirements.
  • Along with Yuga Labs, over the 40 high-profile defendants named in this class action include crypto fintech firm MoonPay, Paris Hilton, Snoop Dog, Jimmy Fallon, and Justin Bieber.

Most Hyped Projects of This Week

Pudgy Penguins

  • FP: 4.47ETH (Mint Price: 0.03ETH) - Opensea
  • Pudgy Penguins has captured the spotlight since it debuted in Art Basel 2022 between Dec 1-Dec 7.
  • Often referred to as the Olympics of the art world, Art Basel is one of the world’s largest art fairs.
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On-chain Analysis

WoW Changes: Total Trades

  • Total volume of NFTs traded: 44.6% WoW
  • Total value of NFTs traded: -23.5% WoW

Top 10 Projects (By 7D Trading Volume)

7D Trading Volume by Sector (Based on Ethereum)

  • PFP (59.6%), utility (12.0%), collectible (11.3%) NFTs were the most traded by volume.

NFT Trading Volume by Blockchain

  • Ethereum’s market share hit 84.5% by 7-day trading volume, inching upwards from previous week’s 79.3%.


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