Drops DAO Weekly Newsletter: June 25 - July 1
The NFT markets may still be down, but our spirits couldn’t be any higher! We’ve been working and brainstorming on plenty of developments and updates in the background.
What’s great is that we’ll be rolling out some exciting news very soon! This will include some slight modifications to our lending process, a new campaign, and other interesting things that will be revealed.
To recap another great week, check out our newsletter below!
Lending Pool Statistics
Check out the most recent stats below for our lending pools:
Total Supply: $2,216,569
Amount Borrowed: $378,920
Supplied NFTs
BAYC: 2
MAYC: 7
OTHR: 21
CyberBrokers: 22
Squiggles: 2
veDOP statistics
DOP Locked: 1,162,809
Total veDOP: 171,894
Average Lock: 0.59 years
Product Development
This Week
Complete integration of NFTBank price as second price provider
Complete oracle upgrade to support OpenSea’s Seaport contract
Development to support xTokens from NFTX - NFT liquidity platform
Integration of Gem.xyz API for NFT mortgages, enabling the issuance of a mortgage for NFTs sold on any marketplace
Liquidation insurance smart contracts testing
What’s Ahead Next Week
Work on liquidation insurance interface development
Testing NFT mortgages
Continue work on oracle for xTokens
Voting to list The Sandbox LANDS NFT collection
NFT Market Statistics
Total NFT Sales Volume
Another down week hits the NFT market, with sales down another 24% and the number of sales dropping by 28%.
(Source: https://nonfungible.com/market-tracker)
Top NFT Sales
We started to see some newcomers jump into the top NFT sales for the week, with Loot and Otherside taking some of the biggest spots amongst the blue-chip CryptoPunks and BAYC collections.
(Source: https://nonfungible.com/market-tracker)
NFT Marketplace Weekly Volume & Users
OpenSea: $8M volume / 40.89K users
X2Y2: $116M volume / 5.99K users
Gem.xyz: $10.6M volume / 10.17K users
LooksRare: $16.4M volume / 4.19K users
(Source: https://dappradar.com/rankings/category/marketplaces)
What’s Happening in the NFT space
Meta launches its new display options for NFTs on Facebook
Kevin Hart announces that he’s releasing a new Web3 Comedy activation and NFT collection
Ryder Ripps labels the BAYC NFTs as racist - Yuga Labs is now suing him
Facebook starts testing Ethereum and Polygon-based NFTs on their users’ profiles
A new 3D NFT game called Galaxy Survivor is attempting to spark the next revolution in blockchain gaming
An NFT sale at Christie’s of 27-lots called “Cartography of the Mind surpassed $1.6 million
eBay files trademark applications relating to services in the metaverse and NFT spaces
Meta looks to start testing NFTs on Instagram stories with Spark AR
OpenSea gets hit with an email data breach
Drops Meme of the Week
