With the looming deadline of February 4, 2022 looming in front of us, we’re focusing on how NFT sales performed during this past week.
The nft sales is a weekly report that covers the total number of NFTs sold on the market during a specific week. It includes information about the top 10 coins, as well as the top 5 exchanges in terms of volume.
Last week, NFTs, notably PFPs (profile photographs), had a good run as the rest of the crypto market suffered. However, it is not just PFPs and NFTs; certain kinds of projects are booming, but the majority of projects are dying slowly due to a lack of liquidity and a community to support them. Are the majority of NFTs overvalued? Anything may happen with crypto, and they may or may not be inflated.
Let’s take a brief look at the numbers.
The Week’s Big Sales
NonFungible.com’s top sales in the past 7 days
NFT Markets is a company that specializes in non-traditional
When compared to the previous seven days, NFT market sales are up 18 percent on average, with LooksRare and OpenSea seeing the most growth.
With 258k purchasers, OpenSea generated $1.24 billion in sales, almost a 19 percent increase in sales volume over the previous week.
Magic Eden sold $66 million to 101 thousand people, representing a nearly 40% rise in sales volume over the previous week.
Solanart sold $6.4 million to 16k people, representing a nearly 63 percent increase in sales volume over the previous week.
AtomicMarket sold $7.62 million to 52k customers, representing a nearly 16 percent increase in sales volume over the previous week.
Rarible achieved $2 million in sales with 1,700 purchasers, down 4% from the previous week.
LooksRare generated $4.08 billion in sales with 13 thousand purchasers, up 18 percent from the previous week.
Every week, we witness an increase in interest in metaverse worlds; many people use the term “metaverse” without comprehending that many “metaverse platforms” are being built. We’ll go through the most important ones here.
The Sandbox sold 1,479 copies for $14 million.
With 366 purchasers, Decentraland achieved $6.1 million in sales.
With 96 purchasers, CryptoVoxels generated $491k in sales.
With 20 purchasers, Somnium Space achieved $258k in sales.
What Market Data on Collectibles Tells Us
In the NFT space, the top four collectibles by sales.
Bored Ape Yacht Club sold $100 million to 267 customers who transacted 321 times, a 92 percent increase in sales volume over the previous year.
Azuki achieved $90 million in sales, with 1,478 purchasers transacting 2,382 times, down 3% from the previous week.
CloneX achieved $88 million in sales, with 1,174 purchasers transacting 1,796 times — a 133 percent increase in sales volume over the previous week.
Mutant Ape Yacht Club sold $62 million to 735 customers who transacted 915 times, representing a 50% increase in sales volume over the previous week.
Games based on cryptography
Every week, there are new games that promise fantastic gameplay and a large community. Axie Infinity is now the most popular P2E platform in terms of daily active users. The top three games in terms of volume over the previous seven days will be featured.
Axie Infinity has a volume of $168 million.
The volume of DeFi Kingdoms was $147 million.
Pegaxy’s volume was $78 million.
What CryptoArt Is Trying to Tell Us
Art is still being sold, albeit at a slower rate than in previous times. The art being auctioned is largely 1/1 works of exceptional quality.
Let’s have a look at it in more detail:
- In January, $61 million was sold.
- So far in February, $8.2 million has been sold.
NFT has had a fantastic week. The value of most initiatives has skyrocketed, but it seems like people are always pursuing the next big thing, which does not appear to be sustainable. NFTs will be around for a long time, but have any projects earned their current valuation? We’ll have to wait and watch in the following months. Have a wonderful weekend!
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