Rare Club Nifty Newsletter #9
Positivity abound and the importance of NFTs in 2022
Welcome to the ‘Rare Club Nifty Newsletter’, a curated snapshot of what matters most. We provide informative and easily digestible content about the NFT space, with one publication a week. Subscribe for free at the bottom of the article.
We include NFT news, info on trending narratives, educational info, tips, projects to watch, occasional deep dives and more.
HEADLINER - ‘Ethereum NFT Market Soars in First Days of 2022’
2022 has got off to a roaring start if you’re into NFTs. And it’s probably to be expected.
As you can see from the above infographic, Ethereum-based NFT collections absolutely dominated the marketplace last year. But it’s not the market share that’s of most importance here. It’s the fact that the total annual spend as of mid-December 2021 was around $22 billion dollars. Compare that to the $100 million dollars traded the previous year. This is just insane growth. Not only that, but most analysts are in agreement that 2021 will be dwarfed by 2022.
NFTs had a big wave during the summer of 2021 peaking at the end of August. Since then, despite the NFT community being as busy as ever, the sales dropped off somewhat. It seems that it’s starting to liven up again now with a huge increase in sales over the past 2 weeks.
This increase has been driven by a continuous influx of global brands and celebrities getting involved in the space, as well as NFTs making headline news almost daily.
It will certainly be interesting to see how the NFT waves coincide with the general crypto sentiment and the price of Ethereum over the course of 2022. Ordinarily everything crypto-related is intrinsically linked the price action of Bitcoin, but there’s growing confidence the NFT space, to some extent, may have some resilience in this respect. Time will tell.
We’ll discuss more about what to expect in 2022, narratives of interest and what we’ll be betting on this year in the section below entitled ‘Talking Points’.
For a full article on the recent surge in the market, please click here.
BEST OF THE REST
A curated selection of other NFT headlines. Click to read.
TALKING POINTS - ‘What will be hot in 2022 and what does it mean for NFTs?’
At the end of every quarter I spend time assessing the previous three months and building a rough game-plan for the next six. It’s always good to take a breather, zoom out and get some perspective.
I unplug from the daily routine and take time to read and research on a more macro level. My passion is NFTs, but i’m interested in everything blockchain. The crossovers are obvious, and it pays to have a wider knowledge base than just the NFT market.
At the end of each year, lots of entities publish articles with annual reflections and future predictions. I make a point to read as many as I can to gauge sentiment for the upcoming months and year. This time around, people are bullish on these narratives:
Layer 2 Scaling Solutions
Decentralized Cloud Storage
Play 2 Earn (and its hybrids)
DAOs and Social Tokens
And what’s so great about all this? Every category is linked to NFTs in one way or another. The metaverse and gaming sectors use NFTs, DAOs already use NFTs for membership tokens and some are even set up purely to purchase NFTs, like ours. Decentralized cloud storage is related to the metaverse expansion, and therefore NFTs, and layer 2 scaling solutions should provide lower transaction fees, further facilitating more onboarding into the NFT space.
This is why when pressed on which space people are most bullish on for 2022, NFTs win out every time.
DeFi was assumed to be the key to unlocking crypto for the masses. But it wasn’t sexy enough. It was groundbreaking and innovative, but it didn’t have mass appeal. NFTs do.
So what are we betting on in 2022? NFTs! But not simply NFT avatars and profile pictures. To really capitalize on the potential in front of us, it’s key to understand how NFT utility can both solve existing problems and provide new opportunities. We’ll be sharing our views and pointing you in the right direction on both these topics throughout 2022.
This is an overview of what NFT collections have been making big moves in the past week. For transparency, I own some of the NFTs mentioned in this weeks list.
Mutant Ape Yacht Club - Again, this collection has seen the highest volume of sales over the past week, with its floor price increasing by approximately 4ETH.
Capsule House - This collection has seen almost 1000% uptick in sales volume and seen its floor price do a 6x in just a week.
DeadFellaz - Seen a good spike in sales with a 640% uptick in volume this past week. An older collection with a solid community.
Coolman’s Universe - This collection’s seen almost 200% increase on the daily and 400% on the weekly. At only 3 weeks old, an impressive start.
Prime Ape Planet PAP - This collection is sat 3rd overall behind BAYC and MAYC on the weekly sales volume. Not bad for a new entry.
These are projects we are monitoring which we believe have potential for growth. DYOR. Not Financial Advice.
Mutant Ape Yacht Club (same as above, extension of BAYC, well established)
Meebits (same team as CryptoPunks, mass appeal, early 3D avatars)
Cool Cats NFT (very strong community, respected collection, mass appeal)
Lost Poets (created by famous artist ‘Pak’, strong community)
Parallel (gaming, TCG, strong team, incredible backers, big ambitions)
My Curio Cards (historical significance, early ETH NFT)
Prime Ape Planet (outstanding artwork, experienced team, good roadmap)
CryptoMories (unique artwork, good community, lowish entry price)
DeadFellaz (very strong community, established)
World Of Women (celebrity endorsed, one of 1st female avatar collections)
TIP OF THE WEEK - Oxya Origin Raffle
This project has garnered quite a lot of attention since it’s initial sneak-peeks of the artwork, which is pretty amazing. The team seem experienced, and they have big ambitions. For more info on the project please visit their website here.
They have a raffle for minting, which starts today, Wednesday 5th at 4PM CET. It will be open for 12 hours. The mint price is 0.3 + Gas. You need to have a minimum of 0.33 ETH in your wallet to participate, and can mint up to 2 NFTs.
If you’re interested, you can find more info on their Twitter page here. Please DYOR.
Updates regarding the Rare.club NFT DAO fund:
Discord is set up and will kick-off within a week or so
New website and logo are ready. Will be released very soon
Pitch deck is completed. Will be released soon
Twitter spaces will start soon
Next fundraise will happen in Jan/Feb 2022
Two projects lined up for incubation: a Solana project and a launchpad
Links to our socials and website coming soon,
Thanks for reading, and see you next time
Always DYOR (do your own research). Nothing in this or any other article in this series should be construed as financial or investment advice. We do our very best to provide useful information for our readers. What you do with that information is up to you.
Remember to exercise caution within the NFT space. The community is full of amazing people, but there are unscrupulous ones too. Keep your wits about you, and act responsibly. As always, good luck.