You’re not alone if you’ve noticed an uptick in NFT news. That sector of the crypto world is rebounding heavily off of its lows.
Out of the 10 custom Stocktwits cryptocurrency indices, the NFT index is the best-performing index YTD and the only one over 100% YTD – it’s up +135% YTD. 🤯
And it’s not just the best-performing Stocktwits Crypto Index YTD; it’s the only index that’s been in the Top 3 every week so far for 2023 (the whole five weeks we’ve had).
It’s been a helluva performer, too: 2nd best for Week 1, the best performer for Week 2 and Week 3, 2nd best again for Week 4, and the best performer for last week.
You can read the Saturday Litepaper here.
Just take a look at the GIF of the RRG. It’s 12 weeks’ worth of movement.
It starts during the week of December 25, 2022, when the NFT Index looks like a squirrel that fell off the Punch-Me-In-The-Face-Tree and hit every branch before going splat face first, making a sound like a golf-ball hitting concrete.
The total opposite happens as the market transitioned into 2023, where said squirrel finds a cocaine-infused acorn and scurries back up the Punch-Me-In-The-Face-Tree, giving every branch and twig 4 middle fingers on its way back to the top. 🥜
Here’s a quick breakdown of some news happening in the crazy NFT space:
- The Dookey Dash game leaderboard has had some scores removed by $BAYC. Why? Stoopid cheaters. From The Block.
- An OpenSea user had two of his NFTs stolen through a phishing scam and complained to OpenSea; then, they locked him out of his account. He’s suing for $500k. From CryptoNews.
- NFT artist Mason Rothschild was awarded a $133k judgment by a jury in France after winning the case against some French company named Hermes. From Coindesk.
- The Beijing Guoan Football Club launched its GLEO NFT collection on Sunday. From Forkast.
- Open Edition NFTS might be one of the reasons the NFT market has a lot of pamp going on. From Decrypt.
- From last week, but still worth mentioning because it’s an epic way to quit your job – man makes an NFT out of his resignation letter. From Yahoo!
- WeTransfer, the file-sharing company, is stepping into the NFT space. From TheBlock.
- CryptoPunk#5066 sold on Monday for 857 $ETH, and Bored Ape Yacht Club#7090 sold for 800 ETH yesterday. From Decrypt.