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The Value of Gaming NFT Tokens Is Increasing – AXS, SLP, and SAND Analysis

On July 27, Axie Inifinity (AXS) hit a new all-time high of $53.50, likely capping a bullish surge.

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Smooth Love Potion (SLP) has created a double top pattern and is searching for support.

The Sandbox (SAND) has broken out of a declining resistance line and is now trading at $0.78.

AXS

Since July 20, AXS has been climbing at an accelerated rate. The rise continued until July 27, when the price hit a new all-time high of $53.5.

The trend appears to be a five-wave bullish impulse that has concluded (orange).

The high was established at a crossroads of Fib resistance levels, indicating that a potential top is approaching. The external Fib retracement of wave four (black) is 2.61, while the 1.61 Fib projection of waves 1-3 is 1.61. (orange).

Furthermore, technical indications are suggesting weakening. The MACD has issued a negative reversal signal. The RSI and the Stochastic oscillator have formed a bearish divergence, with the latter making a bearish cross.

The decline from the all-time high took the shape of a falling wedge on the two-hour chart, from which AXS has just broken out. As part of sub-wave A, the movement may have been a leading diagonal (white).

If the prediction is true, the coin will rise to the 0.5-0.618 Fib retracement resistance levels before falling again.

The 0.618 Fib retracement support level and a horizontal support area are located at $29.30.

Summary:

  • On July 27, AXS hit a new all-time high.
  • At $29.30 and $45.50, respectively, there is support and resistance.

SLP

SLP hit a high of $0.41 on July 13th. Above the $0.34 horizontal resistance area, a new high was set.

The token, however, failed to close above this area and instead decreased below it. It made a lower high on July 22, confirming the area as resistance, and has been going downwards since then.

In addition, the high established a double top pattern compared to the price at the start of May.

SLP is currently trading at $0.195, close above the 0.618 Fib retracement support level. A breach below this level could result in a severe decline to $0.145.

In the daily time range, technical indicators are bearish. For example, the RSI has dropped below 50, the Stochastic oscillator has crossed over to the bearish side, and the MACD has become negative.

Summary:

  • A double top pattern has been created by SLP.
  • At $0.34 and $0.195, there is resistance and support.

SAND

Since June 22, when it hit a low of $0.146, SAND has been steadily rising. It managed to break out of a downward resistance line shortly after and began to rise at a rapid pace.

The upward trend continued until July 24, when the price reached a high of $0.845. Then, just above the $0.78 horizontal resistance area, a new high was set.

However, the higher prices were not able to be sustained, and SAND formed a long upper wick (red icon) before falling below the resistance level.

Bearish divergences in the MACD, RSI and Stochastic oscillator preceded the downward movement.

The 0.5 Fib retracement support level and a horizontal support area are the closest support levels at $0.495.

Summary:

  • A downward resistance line has been broken by SAND.
  • At $0.78, it is up against resistance.

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John Cena has Described his NFT Sales as a “Catastrophic Disaster”

Wrestling Entertainment offered 500 $1,000 gold tier packages with Cena’s NFT, but only a small percentage of them were sold.

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According to professional wrestler and actor John Cena, fans only bought 7.4 percent of the World Wrestling Entertainment, or WWE, NFTs that he made accessible last month.

Cena said it was a mistake to offer his WWE NFTs as part of a package including physical collectibles — a hat, shirt, wristbands, belt, towel, autographed picture, and the digital collectible — at Florida Supercon 2021 on Sept. 12. Instead, the group provided 500 $1,000 gold tier packages with the NFT, but only a tiny percentage of them were sold.

“I talk a lot about failure,” Cena remarked, “and this notion failed.” “I and the WWE thought $1,000 was a reasonable pricing point. We were mistaken. We were completely incorrect.”

He added:

“We sold 37 of them. It was a catastrophic failure.”

Cena and WWE produced two tiers of NFTs for the wrestler: a 24-hour auction of a “John Cena Platinum NFT” and 500 limited edition NFTs the following day as part of the bundle mentioned above of physical collectibles. The platinum NFT reportedly sold for $21,000, with the highest bidder receiving VIP seats to WrestleMania 38 in Dallas or WrestleMania 39 in Los Angeles, as well as hotel accommodations.

Long before the rise in popularity of NFTs, the WWE veteran promoted the crypto space on social media. He shared a picture of the physical token before the 2017 Bitcoin (BTC) bull run when the price was in the $4,000s. The Undertaker, a retired professional wrestler who was a member of the WWE until 2020, has also appeared in NFT collections.

It’s unclear whether the NFT’s price — Cena estimated the digital artwork to be worth around $500 — or the actual memorabilia put off wrestling fans. In July, an entrepreneur held simultaneous auctions for an Apple co-founder Steve Jobs job application and an NFT. The real paper sold for $343,000, while the NFT received a final bid of 12 Ether (ETH), or $27,460 at the moment.

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NFT Data Aggregator NFTGO is now Officially Released!

NFTGO recently announced that it was officially released!
This marks the beginning of a professional NFT data aggregation platform for NFT beginners, buyers and researchers.

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For those who are unfamiliar, NFTGO is an aggregator that collects and visualizes real-time data around NFT assets and their trading volume across all chains, specifically Etheruem, Flow, BSC, Polkadot, etc. As a result, you can gain a comprehensive understanding of NFT market trends and optimize your NFT purchase and investment decisions through the NFTGO platform.

Nowadays, NFTs have penetrated almost every industry. Based on blockchain technique, virtual assets have gained much attention because of their uniqueness, indivisibility, rarity, and verifiability in gaming, art, sports, media, etc.

When people first enter this virtual world, some questions are frequently asked: How to discover the most trendy & valuable NFT? How to purchase NFTs? What is the market trend of NFTs? How to know the return on investment?
How to evaluate my NFT assets?

Well, hold on, all these questions could be well answered on NFTGO. Building “The gateway to the NFT ecosystem” and revolutionize the NFT marketplace is why NFTGO, a professional and user-friendly NFT data aggregator, is designed and launched.

NFTGO offers its users several key services to better revolutionize the NFT ecosystem and solve the problems below:

  • Visualization of Market Data
  • Ranking
  • Asset Search Engine
  • MarketPlaces Aggregator
  • NFT Evaluator & Oracle
  • NFT Wallet

1. Visualization of Market Data‌

NFTGO collects and visualizes real-time data on NFT trading and asset across the network catering to users’ needs. As a result, users can gain a comprehensive understanding of NFT market trends and optimize their NFT purchase and investment decisions.

2. Ranking

NFTGO provides a multi-dimensional ranking of NFT-related indicators for users and investors. NFTGO also provides the latest rankings of assets, collections, holders, and whales based on its aggregated data.
Therefore, you could…

  • Discover high-value NFT projects and assets;
  • Track NFT whales;
  • Assess the investment value of NFTs and NFT tokens;
  • Trace NFT owners across the network;
  • Overview ranking based on total value and its increase of total market cap,
  • collection growth, asset value, the number of holders, holding value of whales, etc.

3. Asset Search Engine

NFTGO is just a “Google” with multi-functions in NFT fields, and it is much more needed currently. NFTGO aggregates high-quality NFT assets and builds a special index based on their metadata, allowing users to search for NFT assets in one platform and change their exploration of the NFT world more conveniently and efficiently.
After typing the asset you are looking for in the search bar, users can get overall data of the asset or collection, including their basic information, traders/total value/volume trends, NFT value, holders, liquidity, NFT assets, and deals, etc.

What’s more, you can search specific whale addresses on NFTGO and know their NFT holdings.

Take CryptoKitties as an example.
NFTGO provides users with the basic information on the NFT project they are looking for, like hyperlinks to its homepage, transaction coin(s), contract, rank, and asset category(in this case, collectibles). Besides, they can refresh to get the latest information, share it with friends or the community, and check likes to judge its popularity. Also, they can get information on its market performance and better their purchase and investment based on the statics of traders, total value, volume, NFTs launched holders and liquidity. Finally, specific information on its NFTs can also be found, including the value of its top hot NFTs and recently created NFTs. In addition, the prices of the latest deals can also be used as a gauge in investing NFTs of a similar kind.

What’s more, users can also refer to the top 10 NFTs and holders of the project as guidance for their foray into the NFT ecosystem.

4. MarketPlaces Aggregator

With the emergence and increase of decentralized NFT trading markets and lack of interoperability between different platforms, users have a greater demand for a platform that collects and shares NFT trading information and empowers them to buy and sell NFTs accordingly quickly.
Therefore, besides an asset search engine, NFTGO is also equipped with cross-platform trading information aggregation. As a result, the function can enable its users to get in-depth, comprehensive information on NFT trading and, more importantly, to get a better purchase experience with greater accessibility and efficiency.

5. NFT Evaluator & Oracle

Since the launch of CryptoKitties in 2017, the valuation of NFTs has always been hindered by several factors: Low market liquidity, NFT diversity, High speculation. However, in the Web3 world, data is the basis to drive the asset valuation. Diversified standards could be set and solved by NFTGO’s huge database and on-chain information with a series of research specialists. But, math is the truth, and data matters more.
Therefore, with a data aggregation engine hosting various basic and advanced indicators, NFTGO is building a set of NFT valuation models that keep abreast with the latest market conditions to equip its users with more insights.

To Da Moon

In the future, NFTGO aims to leap again to be an NFT “Disney Land” to create an integrated virtual economy with a complete set of experiences around NFT. With expansive opportunities waiting ahead in the promising NFT world, NFTGO is more than excited and courageous to change the game to da moon.

Twitter: https://twitter.com/nftgoio

Medium:https://nftgo.medium.com/

Youtube:https://www.youtube.com/channel/UCaDpaWVaRZDfdszfDCecfIw

Discord: discord.gg/Hwh8Czmtvt Telegram: https://t.me/nftgoofficial

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FTX: Steph Curry Partnership and $290,000 NFT

FTX, a leading cryptocurrency exchange, has announced a collaboration with Steph Curry and has seen a surge in activity on its NFT platform.

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FTX CEO Sam Bankman-Fried revealed that the platform would now include an NFT marketplace, allowing its crowds of foreign and US users to manufacture, purchase, and sell the tokens on the Solana and Ethereum networks.

The first FTX NFT sells for more than $200,000

Shortly after its opening, the new marketplace was inundated with fish-related submissions, resulting in significant spamming. As a result, the company raised its $10 fee to $500 in order to significantly limit the number of spammers.

In a tweet, Bankman-Fried quickly announced a $500 one-time billing fee. “Due to a large number of submissions, many of which were just a photo of a fish,” tweeted the FTX CEO, “we are now charging a one-time $500 fee to submit NFTs.” “Hopefully, this will help to cut down on spam.”

One of the first notable incidents after the FTX marketplace’s launch was when the CEO of the crypto exchange witnessed his own test NFT listing sell for US$270,000.

Stephen Curry, a basketball superstar, has joined FTX as an ambassador

In other news, FTX has attracted Stephen Curry, one of basketball’s brightest stars, as its global ambassador, and he will receive an equity part in FTX Trading Limited. The exchange announced a press release on September 7.

According to the press release, the cooperation with the crypto exchange is the first in the crypto field for the basketball sensation.

“Curry’s investment in FTX Trading Limited strengthens the company’s position as the most trusted and fastest-growing marketplace for buying, selling, and trading Bitcoin, cryptocurrency, NFTs, and other digital assets. In addition, through numerous planned projects, he will take on the role of global ambassador to increase the reach of the FTX brand and tout the potential of cryptocurrency to new audiences throughout the world,” according to the news release.

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