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Over the past 7 days, selloffs across stocks and crypto bled over into the NFT space, with virtually every top PFP collection on Ethereum, Bitcoin, and 
Solana in the red in that span.
However, one sector of the NFT market proved notably resistant to this recent downswing, and it was cryptoart.
Indeed, on the week we witnessed plenty of green among the ecosystem's most popular art series. Some of the 7-day runners here, for example:
- Ringers (+55%)
- Checks (+34%)
- Rare Pepes (+33%)
- Winds of Yawanawa (+9%)
- Beeple Everydays (+6%)
Of course, when it comes to cryptoart vs. PFPs, the former tends to attract more long-term, conviction-based buyers that 1) are willing to buy when others aren't, and 2) are fine with volatility because of their focus on cultural value.
We see similar dynamics in traditional fine art markets, which sometimes remain hot or stable during wider financial downturns as collectors keep hunting and holding their favorite pieces.
All that said, if the trend of cryptoart outperforming continues, we could be in store for another 2021-style rally as the next big wave of attention arrives. Only time will tell, but review your collecting strategy just in case!
Other news this week...
📰 General news
- Abstract launched its mainnet
Nouns completed the handover of 9 classrooms in Uganda
OpenSea opened OS2 access to Gemesis holders
Syndicate* Chain, a new appchain infra stack, released its testnet
🎨 Cryptoart
🏆 Digital collectibles
🎮 Decentralized gaming
- B3 announced its $B3 token plans
- Bloops, a new experimental crypto game, launched on Base
- Cartridge welcomed Ultimate Football Tactics to its incubator program
- fantasy.top launched its Fantasy API
- Fren Pet is preparing to launch AI features this month
- Midnight Society, the team behind the extraction shooter Deadrop, is closing up shop
🪙 Memes & NFTfi
📱 Onchain social
Lens🌐 Virtual Worlds
- Decentraland announced its latest development updates
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- 🦄
Uniswap V4 Is Here — Uniswap - 🚀 Reintroducing DFArchon — DFArchon
- 🤖 Republic of Bots, the Game — 1kx
- 🎨 Kim Asendorf on Elegant Symbiosis — Peter Bauman
- 📱 A One Night Stand With Lens — Fabrizio Gianni
- 🌐 Networks Owned By Their Participants — Chris Carella
