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Multi-year NFT bull run?

Huge Bored Ape buy, Doodles dominate, science labs are turning to NFTs, & more!
William M. Peaster William M. Peaster Oct 22, 20213 min read
Multi-year NFT bull run?

Metaversal is a Bankless newsletter for weekly level-ups on NFTs, virtual worlds, & collectibles

Dear Bankless Nation,

At the start of October 2020, daily NFT trade volume reached +$1M for the first time. NFT activity has surged ever since, so I think it’s safe to say we’ve been in an NFT bull market from that point on.

Following that line of thought, we’ve now been in an NFT bull market for 1 year and counting. So what’s next? Some people joke that 2021/2022 is going to play out like the 2017/2018 crypto market, i.e. a bear market is due early next year.

However, the future arrives in ways we can’t cleanly predict. Lately, I’ve been starting to consider the possibility that the Coinbase NFT platform (and many other factors, of course) might extend this NFT bull market through 2022 and perhaps even beyond.

We’ll see, right. In the meantime have a great weekend, be well, and stay creative 👨‍🎨️


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🏆 Digital Collectibles

  • Big collectibles moves this week: crowned Bored Ape #8585 sold for 696.969 ETH, while CryptoPunks #273 and #4626 were acquired for 265 ETH and 248.88 ETH respectively.
  • New collectibles project Doodles launched on Sunday and has since seen nearly 10,000 ETH worth of trading volume according to OpenSea.
  • Forgotten Runes Wizard’s Club is getting its own TV show.
  • MAYC merch drop today!

🎨 Cryptoart

  • The application period for SuperRare Space Race #1 is now over. Time for SuperRareDAO to vote on a winner!
  • Speaking of SuperRare, there were two major acquisitions on the NFT platform this week: Matt Kane’s CRYPTOART MONETIZATION GENERATION (320 ETH) and Alotta Money x jvinci’s Saint Nakamoto (270 ETH).
  • Alt-pop musician Grady sold his record The Love Umbrella on Catalog for 8.1 ETH.

🎮 NFT Games

  • The Axie Infinity ecosystem is booming 💥
  • The Loot community launched v2.
  • DraftKings is partnering with Polygon Studios.
  • Space MMO Influence is launching on the StarkNet scaling solution!
  • Sci-fi NFT card game Parallel raised a funding round at a $500M valuation.

🌐 Virtual Worlds

  • A presumably lost Etheria plot was recovered and listed for 250 ETH!

🛒 NFT News & Platforms

  • Science labs are starting to sell NFTs to fund research by alternative means.
  • Zora unveiled new docs. An insightful thread on what to look out for:

💎 DeFi x NFTs

Action steps

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Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

William M. Peaster

Written by William M. Peaster

635 Articles View all      

William M. Peaster, Senior Writer, has been with Bankless since January 2021. Immersed in Ethereum since 2017, he writes the Metaversal newsletter on the onchain frontier, covering everything from AI projects to crypto games, as the team’s lead NFT analyst. With a background in creative writing, he writes fiction and publishes art on Ethereum in his free time. He lives in Washington.

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