Rumble in the Jungle with CyberKongz's "The Klaw" Game

GM. Welcome to our weekly coverage of NFTs and the Metaverse. This week:

• Solana NFT sales soar in September.
• Tyler Hobbs’s new generative art project goes to mint.
• Rumble in the jungle! Catch valuable NFTs on CyberKongz’s “The Klaw”.

Let’s dive in!

🚨 State of the Market

There hasn’t been much change in NFT volumes this week, except for a slight bump for LooksRare. OpenSea weekly volumes are at their lowest for this year ($78M). NFT volumes flow from retail participants, and the recent fall in stock and crypto prices (S&P at their yearly lows) has led many people to take a wait-and-see attitude towards NFTs.

NFT trading volumes on Solana have risen significantly in September (compared with August). Even after the y00ts mint concluded earlier this month, there is still a sustained carry-over effect, and volumes remain strong. The top volume collections on Magic Eden are y00ts, ABC (an art PFP project), DeGods, and Critters Cult (a recently launched storytelling collection). OpenSea’s market share on Solana NFTs remains tiny.

On SudoSwap: Daily users and trades surged 3,000% and 5,400%, respectively, in July and peaked in mid-August. Although short-lived, mid-August was reminiscent of the infamous DeFi summer, as traders were blindly aping into specific NFTs that were listed on Sudoswap. Akin to Yam Finance and its subsequent forks, NFTs with the prefix Sudo- were the jackpot, as Sudo Inu and Sudolets witnessed colossal returns overnight.

Of the 30K pools created, 76% have been NFT pools to sell only. This was expected, as users could create a single pool per NFT. Of all users who interacted with Sudoswap pools, 36% sold their NFT, while 64% bought NFTs from bonding curves.

For a deeper dive on SudoSwap: we released our report this week, which PRO members can read here.

🔥 Top NFT Collections This Week

It’s been a quiet week for NFTs. Nothing earth-shattering happened.

• BAYC and MAYC are showing strength in this bear market with a modest rise this week. This could be accumulation as Horizen Labs announced that $APE staking is targeted to begin on 31 Oct (give or take a week). Also, a Mega Mutant Ape was purchased for 1000 ETH this week ($1.3M) by Fragment.xyz. This was funded via a loan taken on Arcade.xyz (a peer-to-peer NFT