ApeCoin big Win for Everyone

Gm gm fam,

This week was wild and Apes were everywhere!🍌 While they were the loudest, what Yuga did was a big win for everyone, not only the BAYC/MAYC holders. We will go through the current NFT and Crypto market and recap this week's exciting moments. Let's jump in!

NFT Market is alive!

We had seen a gradual decrease in NFT volume traded for over a month. Although the businesses (well, jpeg projects) kept building, the community was toned down. Finally, Yuga brought a spark into the game, and a new wave of excitement (and trading volumes) arrived. No need for a long explanation of what happened. ApeCoin landed, and the NFT Space went bananas.

ApeCoin brought new liquidity into the market. Up to date, nearly 14,000 addresses claimed 125 million tokens (25 million remains), giving Apes and Mutants equivalent of ~$1.4 billion to play with. The ApeCoin price is currently $11, so each Ape got over $110,000 and each Mutant over $22,000. Some of them sold (currently almost 30,000 addresses holding ApeCoin), most of them hold. Nevertheless, the OpenSea trading volume is nearly double these days compared to the previous week.

The NFT market is still so tiny, and it is incredible to see one project can move the entire space. Based on the data from Dune Analytics, there are less than 1.5 million wallets ever registered on OpenSea, with only 350,000 regularly active. To compare, the number of active internet users is almost 5 billion, so we are playing in a tiny pond that will grow exponentially in the upcoming years. So if you haven't received your ApeCoin, no worries. 99.97% of internet users still haven't joined the NFT Space. You have done the first step and there will be tons of new opportunities in the upcoming years. As I keep shouting daily - it is a long-term game! And yes, we are still soooo early, haha💙

ETH got closer to $3,000

ETH also made it this week, and we've seen a bullish sentiment in crypto. Ethereum nearly touched $3000 where it hasn't been since March 1. The graphs below nicely show how crypto recently correlates with the stock market, mainly caused by geopolitical issues and the ongoing war in Ukraine.

S&P 500 market index 👇 (= a stock market index tracking the performance of 500 large companies listed on stock exchanges in the United States)

Ethereum price chart👇 (almost identical correlation)

Long story short. The current situation in the global economy is not perfect. The war in Ukraine and its consequences, including the high oil prices and the supply chain bottlenecks, risk of WW3 mixed with ongoing waves of covid and high inflation, don't allow the stock, crypto, and the NFT markets to fully flourish.

The good news, the sentiment is always faster than the circumstances. So, the markets crash before the invasions. And grow before it is all fixed. The information is just quicker than the actual events. And we never know how much fear is already priced-in. So I am staying long-term bullish and keeping some ETHs aside to be ready for both ways (NFA, ofc)😉

NFTs took over SXSW 2022

NFT culture is unstoppable, and after the recent ETH Denver, NFTs continued the ride and took over SXSW in Austin. We saw a ton of innovation and excited people finally connecting their faces with their profile pictures. It is always so much fun to see people behind the avatars in real life.

Doodles hosted three days of NFT experiences and announced a partnership with Shopify, which now uses a Space Doodle as their PFP on Twitter. Mark Zuckerberg announced that Instagram would be an NFT Marketplace “hopefully” in the upcoming months. Fluf World had one of the largest exhibits, RugRadio had a nice panel talking about the future, and Cool Cats taught people how to create their blue cat. So, amazing vibes, and now the next stop is NFT LA!

Unstoppable Yuga on the Otherside

Yuga dropped an incredible teaser featuring Punks, Meebits, WoW, Nouns, CrypToadz, and Cool Cats onboard. The video suggests a 3D gaming experience powered by Animoca is coming next month (rumors). Community rumors that Yuga is about to create its decentralized world where people own their land, use its marketplace, and ApeCoin powers everything. The rumors are yet to be confirmed, but it is already wild to see how quickly they moved from a jpeg project to this massive brand🔥 love it

NFT Projects

- Antonym NFT reveal

- Metahero mint pass 2 claim

- CyberBrokers are now fully on chain

- Wagmi-San collab with Gucci to dress up our NFTs

- Captain Marvel, Brie Larson joined the Some.Place mobile metaverse

- RTFKT people still solving the MNLTH puzzle

- Coolmans had a first IRL meetup in NYC

- Snoop Dogg drops a music NFT

- Universal Music Label got an ape to create a character for its virtual band

- Veefriends Goats holders got a piece by Drifter called “Where My Goats Go”

Crypto & NFT World

- Metamask passes 30 million users and confirmed the token is coming

- Coinbase Wallet now supports Solana

- Elon Musk still holding ETH, BTC, and Doge and not planning to sell

- Vitalik made it to the Time cover and explained his vision

Meme of the Week

I hope your portfolio doesn't look like this lol👆 and I wish you an amazing upcoming week. It is still early, and we haven't even scratched the NFT surface. It is a long-term game and eventually WAGMI. Love you and as always - let's gooo💙