[NFT Weekly] Buzz about Nakamigos, DeGods’ and y00ts’ Migration, and Blur Extending Double Points

Research Analyst/
Apr 04, 2023

Translated by elcreto

Top NFT Floor Price


Market News

DeGods and y00ts Bridged to Ethereum - Link

  • 82% of DeGods and 75% of y00ts collections have been migrated to the Ethereum ecosystem.
  • A burn and mint process was deployed using the Wormhole bridge, which had once suffered an exploit worth over $300M. 
  • Off the back of the news, the floor prices of the DeGods and y00ts collections have shot up to 8.5ETH 2.15ETH respectively.

Blur’s Double Points Extended a Month - Link 

  • Blur, the no.1 NFT marketplace by trading volume, announced an extension of its double points offering to May 1, citing a delay in its April launch. 

Disney Disbands Its Metaverse Division - Link

  • The Wall Street Journal reported Disney is expected to cut 7,000 jobs and has shut down its metaverse strategies unit and laid off 50 employees. 
  • Disney’s interest in the metaverse business first came to the fore with the launch its metaverse strategies unit in early 2022. It went on to partner with metaverse infrastructure and content companies, including Polygon and FlickPlay, as its accelerators, while granularity of its development plans remained up in the air. 
  • The elimination of the metaverse division is considered to have come on the heels of newly appointed Disney CEO Bob Iger’s cost-cutting, restructuring plans. 


Most Hyped

Nakamigos - Opensea

  • FP: 0.64ETH (vs Mint Price: 0.01ETH)
  • The mint went live in a Dutch auction on March 23.
  • Created by HiFo Labs, Nakamigos is a collection of pixel art NFTs like CryptoPunks.
  • The artist of the Nakamigos collection described themselves as an OG crypto artist in an official blog post, leading some to claim they are MFers founder Sartoshi.
  • Nakamigos, in the meantime, means friends of Satoshi Nakamoto.


On-chain Analysis

Ethereum NFTs: WoW Changes in Trading Volume

  • Total volume of NFTs traded: -7.7% WoW
  • Total number of NFT transactions: -9.4% WoW

Top 10 Projects by 7D Trading Volume

7D Trading Volume by Segment (Based on Ethereum)

  • PFP saw the most volume at 65.8%, followed by land (12.1%) and utility (7.8%).

7D Trading Volume by Blockchain

  • Ethereum’s share shrank 5.2%, down from 78.0% to 72.8%.


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