Drops DAO Weekly Newsletter: June 18 - 24
What an exciting and eventful week it was for the Drops team! We’ve got so many updates to share with our team - it’s hard to know where to begin.
The major highlight of the week was NFT NYC 2022. Our founder, Darius Kozlovskis, was a speaker, plus our core team was onsite at the conference. It was an amazing opportunity to meet our loyal community members and NFT enthusiasts/holders.
We also had our own exhibit booth where we gave away Drops merch and swag. If you were able to grab any, don’t forget to proudly rep our project moving forward!
On top of all that, we have sponsored BAYC Brunch. Popular Bored Ape influencers and collectors came together with the Drops team and had an incredible feast - connections were made as we spread the word about our mission.
Now let’s dive into this week’s newsletter, where we’ve got even more in store for everyone, plus some key highlights.
Lending Pool Statistics
Check out the most recent stats below for our lending pools:
Total Supply: $2,216,304
Amount Borrowed: $336,883
Supplied NFTs
BAYC: 2
MAYC: 7
OTHR: 21
CyberBrokers: 20
Squiggles: 1
veDOP statistics
DOP Locked: 1,015,275
Total veDOP: 156,115
Average Lock: 0.62 years
Product Development
This Week
NFT mortgage testnet transaction
Working on NFT sales aggregator integration for NFT mortgages
Liquidation insurance (85% complete)
NFTBank.ai integration (85% complete)
Updating oracle as OpenSea switches from WyvernExchange to Seaport smart contracts
What’s Ahead Next Week
Work on backend for NFT mortgages to integrate marketplaces
Liquidation insurance testnet
Finalizing NFTBank.ai oracle integration
Updating oracle to adjust to new Seaport smart contracts
Oracle dashboard development
NFT Market Statistics
Total NFT Sales Volume
Despite some sustained hype across major collections, the overall number of NFT sales is down around 28% on the week, signifying another continued drop in the overall market.
(Source: https://nonfungible.com/market-tracker)
Top NFT Sales
CryptoPunks were a hot topic this week, overtaking many other popular collections as the top sold NFTs.
(Source: https://nonfungible.com/market-tracker)
NFT Marketplace Weekly Volume & Users
OpenSea: $43.4M volume / 55.8K users
X2Y2: $124M volume / 4.73K users
Gem.xyz: $13.4M volume / 8.36K users
LooksRare: $17.8M volume / 4.67K users
(Source: https://dappradar.com/rankings/category/marketplaces)
What’s Happening in the NFT space
Cristiano Ronaldo and Binance launch new NFT partnership
Magic Eden raises $130 million in a Series B funding round to reach a $1.6 billion valuation
MoonPay partners with Universal Pictures, Fox Corporation, and Snoop Dogg’s Death Row Records to launch HyperMint, a new NFT platform
BitGo launces the first NFT custody solution for US institutions
eBay acquires KnowOrigin, an NFT marketplace, to expand its reach in the industry
Ukraine sells a CryptoPunk NFT that was donated to the country for $100,000 to help support the war against Russia
WeChat is stopping accounts from offering certain NFT and crypto services
Pharrel Williams becomes the new Chief Brand Officer for Doodles
Keanu Reeves and his partner are advising the Futureverse Foundation, helping artists develop and monetize their NFT artwork in the metaverse
Ledger announced that it’s launching its own NFT marketplace and services platform designed for enterprises
Drops Meme of the Week
