Metaverse Newsletter #4

Influx of money from whales into NFTs, Apecoin staking and more

Introduction

This week has been a quiet one regarding large events but we have seen a large increase in whales investing into NFTs, especially BAYC/MAYC and ENS assets. We will discuss the top news Stories of the week then discuss price movements

Main Stories

Mega Mutant sale

@fragmentxyz Purchased This MegaMutant Ape For 1000 Eth Or $1,300,000 USD.

They did this after taking a 1000 eth loan on two other mega mutants they own and will pay back 44 eth interest ontop of the 1000 eth within 90 days

CryptoPunk Ape Sale

Another huge sale took place this week of a crypto punk hoodie ape

The wallet that bought the Hoodie Ape Cryptopunk today was last active over 5 years ago (May 2017). Their wallet has been holding on to ~2,900 ETH since May 30th 2017, which they bought at ~$228.58 per Ether and have been holding until today

ApeCoin Staking Date

We finally found out when the Apecoin staking feature will go live

Horizen Labs @HorizenLabs

In lieu of today’s postponed spaces, we wanted to share the go-live date for Ape Staking, which is currently scheduled for October 31st.🎃

This resulted in a sharp increase in the value of BAYC/MAYC and BAKC as they get access to their own private staking pools with much better returns than the public pools.

Price Movements This Week

Here we will cover movements in crypto prices, Bluechip NFTs and Metaverse land

Crypto Prices

Ethereum

Eth has ranged this week quite tightly but has nonetheless ended the week on a green note

Eth has gained 3.4% in the last 7 days

Bitcoin

Similar to Ethereum, Bitcoin has ranged this week, we have seen a small overall increase in the price

BTC has gained 0.5% in the last 7 days

Apecoin

Unlike last weeks strong outperformance of Eth and Btw we have seen Ape take a small dip in the last 7 days, staking goes live in about a month so we may see some volatility in the coming weeks

Ape has lost 5.2% in the last 7 days

Bluechip NFT Price Movements

Here we will discuss the movements in the price of some of the largest collections

Green = eth floor

pink = use value

BAYC

The Bored Apes have had yet another green week spurred on by the upcoming staking utility scheduled for the 31st of September

CloneX

The clones have also had a green week which seems to be the theme amongst most bluechips

Metaverse Land

Here we review the movements in value of Metaverse land

Otherside

This week the value in ETH and USD have remained virtually unchanged, there has also been no news catalysts this week other than a mega koda purchase

Looking Forward

As we move into the month of October we grow ever closer to a possible announcement of the next part of the BAYC roadmap and also we are scheduled to enjoy APE staking at the end of the month so Apecoin volatility is a possibility.