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NFTs Outperform Stocks For 2022?

What's Dropping, ENS Domain Sales Flying, Floor Tracker

April 29, 2022

Welcome to The Drop NFT Newsletter. Subscribe and join the discord for breaking NFT news, project breakdowns, & artist spotlights. Thank you for following along on this journey! 

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What's Dropping ⚡️

  • Yuga Labs, AKA Bored Ape Yacht Club, AKA Otherside, announced that Otherdeed will be 305 $APE and be available to those who KYC’d back in March.

  • Gary Vee joins Voltura of Psychedelics Anonymous for an innovative and uplifting Twitter Space about the future of NFTs and networking. Much great information and positivity were shared, have a listen to the recording here.

  • Non-profit crypto fundraising program The Giving Block hopes to lead the way when it comes to philanthropy in the NFT world. They have seen over 12 Million in cryptocurrency donated through their platform from NFT projects alone. Check out their most recent campaign.

  • Bitcoin enthusiasts Rikki and Laura are both active workers in Web 3, from hosting an Italian podcast about cryptocurrency to blockchain community management. The couple recently went on a 45-day journey across El Salvador in an attempt to live only off bit-coin.

  • Germany takes a liking to Blockchain technology as they reform security laws to embrace cryptocurrency activity in their country. Though some regulations remain strict, many German companies have expressed their interest in the technology.

  • Gudphoria minted 5,555 The Seed NFTs earlier this month. The company owns a huge amount of farmland in Oregon and is a top producer of hemp products. They hope to become more sustainable and innovative in their methodology with the help of this project.

  • New Solana project Okay Bears breaks down the door of the market, with their launch surpassing sales of Ethereum projects for 24 hours, pushing $SOL to a new high.

  • $APE has pumped to an all-time high, surpassing $27 USD.

  • Artwork-oriented marketplace SuperRare will be opening up a physical art gallery in NYC. The pop-up event will run from May 19 to Aug 28 and will showcase art from a number of talented artists.

  • A couple of Asian billionaire hotel groups are building virtual properties in the metaverse.

NFTs > 2022 Traditional Investments? 🚀

The technology sector within traditional markets has been taking a beating for the last month. For example, Nvidia is down 29.9% in the last month. Amazon is down 14.4%. Google is down 15.9%. And the list goes on and on.

While traditional tech-related securities have been on a downtrend, NFTs and NFT-related coins have been skyrocketing. Let’s take $APE for example. What started off as a sub $10 token back on March 17th when it was released, $APE is currently worth $21.47 (at the time of writing). All in all, that’s close to a 200% price increase in a little over a month. And these types of percentage growths aren’t just in the form of tokens.

The crème de la crème of the NFT space has continued to outshine not just the rest of the NFT market, but also the traditional tech sector. Doodles, for example, went up by approximately 18% in the past 35 days. And that’s the smallest price increase in the sample analyzed. Out of the top 6 projects (BAYC, MAYC, Azuki, Moonbirds, CloneX, and Doodles), Azuki outperformed the rest of the lineup with an over 185% price increase.

People are investing in ecosystems. Traditional tech stocks allow you to also invest in ecosystems, but the small fish are usually lost in the sea of whales. Owning a small amount of stock is great and all but owning 1 of 10,000 in a collection of pieces that serve as a vessel for exponential growth sounds a little more lucrative (in the writer's humble opinion). WAGMI. 

 ENS Domains Sales Flying 💰

Acquiring an ENS domain is nearly as customary as acquiring a PFP for newcomers to the NFT space. The competition for common ENS domains intensifies every day as people onboard NFTs and seek to stylize and simplify their cumbersome native wallet addresses. The owner of john.eth has a 20 WETH offer on the domain and still hasn’t sold it. While the most common four and three-letter words are claimed, that wasn’t the case for three-digit and four-digit ENS domains. Until a few days ago a bulk of them was unclaimed and that is now quickly changing. 

The demand for this market of numerical ENS’s has to do with the ways numbers can represent the ID of a PFP (think BAYC or Punks), a zip code, or even a birthday. 

Although the buying opportunity is closing in on the numerical meta, there will be plenty of more categories of ENS domains that trend in the coming years. Get ahead of the curve by acquiring domains that you have reason to believe will be sought after for in the future. 

Meme Drop 💧

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Disclaimer: The Drop DOES NOT provide financial advice. All content is for informational purposes only. The Drop is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any crypto-related asset is extremely risky and could result in significant capital losses. 

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