[NFT Weekly] Pudgy Penguins, Starbucks Odyssey, Lawsuit Against Yuga Labs & On-chain Analysis
Translated by elcreto
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.
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%.
Other Related Research Articles
Disclaimer
I confirm that I have read and understood the following: The information contained in this article is strictly the opinions of the author(s). This article was authored free from any form of coercion or undue influence. The content represents the author's own views and does not represent the official position or opinions of CrossAngle. This article is intended for informational purposes only and should not be construed as investment advice or solicitation. Unless otherwise specified, all users are solely responsible and liable for their own decisions about investments, investment strategies, or the use of products or services. Investment decisions should be made based on the user’s personal investment objectives, circumstances, and financial situation. Please consult a professional financial advisor for more information and guidance. Past returns or projections do not guarantee future results.
Xangle or its affiliated partners own all copyrights of the written or otherwise produced materials and content provided on the platform. Any illegal reproduction of such content, including, but not limited to, unauthorized editing, copying, reprinting, or redistribution will result in immediate legal actions without prior notice.
![[NFT Weekly] Buzz about Nakamigos, DeGods’ and y00ts’ Migration, and Blur Extending Double Points](https://resource.xangle.io/content/thumbnails/1125/content_1125_thumbnail_b1d75d5d.webp)
![[Weekly Xangle] CFTC Lawsuit Against Binance, zkEVM Mainnet Launches, XRP Price Surge and More](https://resource.xangle.io/content/thumbnails/1123/content_1123_thumbnail_77bc6447.webp)
![[Weekly Xangle] SEC Notice to Coinbase, Arrest of Do Kwon, Hindenburg Report on Block](https://resource.xangle.io/content/thumbnails/1115/content_1115_thumbnail_92bdb57a.webp)
![[NFT Weekly] Yuga Labs’ Otherside 2nd Trip, Gitcoin Presents’ Parabolic Surge, and More!](https://resource.xangle.io/content/thumbnails/1092/content_1092_thumbnail_dc75e86b.webp)