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- Coinbase NFT marketplace sees less than 900 transactions in the opening week
Coinbase NFT marketplace sees less than 900 transactions in the opening week
Another day, more news coming out so let's get started ASAP! Today’s estimated read time is 2 minutes and 33 seconds.
We’ll be discussing:
🧐 Why is $APE mooning?
🎵 More musicians getting into NFTs
📉 Coinbase NFT marketplace sees less than 900 transactions in the opening week
Why is $APE mooning?
First off, for being one of the most dominant projects in the space the price of $APE has risen almost 56% this week jumping from $17 to $27 with an increase of about 8% in holders. Following the drop of Otherside happening on Saturday, people are only able to mint with $APE coins. Meaning supply is in demand because there was very few in circulation to begin with and in most cases was given through the airdrop.
So what can we expect with all this hype?
This explains in more detail:
Otherdeeds (the name of the land) will be sold for 305 $APE per lot with 55000 NFTs available; this is expected to be one of the biggest drops ever, with them receiving around 16M $APE ($436M) if they sell out.
"Dutch Auction" as we explained in the last email means a type of auction in which X is decreased over time, in this case it's the limit on the number of nfts you can mint. The first hour you can only buy two, the next hour you can buy four, and so forth.
With the date getting closer we’re seeing more demand as people are preparing for the mint hence prices are rising. But after the mint/hype is done there really will be no value at the time in holding the coin, causing people to sell. However YugaLabs said following the launch they would lock all the $APE from the sales, driving the supply to low again. It really could go both ways. This is NFA (Not Financial Advice), we just give you the information to help form your opinion that influences your decision.
In addition, there will be 10,000 KODAs, a new character that will be a part of the next project following Otherside. Each one will be attached to 10,000 plots of land with a 5% chance of obtaining them during mint. These are rumored to be the next moonshot presented by YugaLabs and the BAYC founders, so make sure you read the next emails to receive the fastest updates!.
With that being said, what do you think will happen? Is it just hype or will the bulls push this to the moon? Let us know what you think and if you get it right you can tell all your friends you predicted the market haha.
More musicians getting into NFTs
After trouble with his label, one of New York's finest, Bobby Shmurda, announced the release of his new independent single dropping as NFTs. The song is called "They Don't Know," There will only be a 100 in supply going for 0.1Ξ on the renowned sound.xyz platform.
We are seeing it before our eyes. With the development of Web3, as more and more time goes by, artists want to be independent and in control of their money and art. Do you think this will influence other artists who are part of the industry to go independent? Is this the start of a new blueprint where people have control over what they put out and monetize?
Coinbase NFT marketplace sees less than 900 transactions in the opening week
After months of anticipation, Coinbase’s new NFT marketplace launched its beta version on 4/20 and, to people's surprise, has not done the expected numbers. With as little as 900 transactions happening, adding up to around USD 200k through 600~ users, most of which coming from one wallet. https://dune.com/Marcov/0x-NFT-Market
Compared to Opensea, who did $800 million in the same period, with 36000 users. Coinbase opened the beta access to only a handful of users out of the 3M people on the waiting list. They claim that the platform can’t support all the data needed for the users.
What do you think about all this? Will Coinbase dominate once they launch their full version and change the space with their social platform? Check out our last email for more on that ;)
All these developments happening, do you think $APE will keep going on its momentum or is it all just hype? Reply to this and let us know! And with that being said, that’s all we have for today’s email.
We’ll see you next time! Allstar out ✌
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