This week in NFT Land has been slow to say the least, but a couple of NFT projects resurfaced on the market over the last couple of days. So let’s dive in and look at some numbers…
Big Sales of the Week
- Premium Estate for $709k
- 70th Anniversary Edition for $345k
- CryptoPunk #8562 for $248k
- CryptoPunk #8562 for $238k
- CryptoPunk #843 for $234k
A General Overview On The Markets
Crypto markets have been ranging for a while now. NFT sales are still looking good on platforms like OpenSea, but are slightly down for competitors such as Rarible.
What Collectible Market Data Is Telling Us
Top 4 Collectibles
As a quick summary, the collectible market is down compared to last week; Bored Ape Yacht Club is 1st place this week, and Sorare still holds their 4th spot.
Bored Ape Yacht Club made $6.2M in sales with a total of 1,139 buyers who transacted 2,246 times – a 677% increase in sales volume from last week.
NBA Top Shot made $5.4M in sales with a total of 23k buyers who transacted 179k times – a 24% decrease in sales volume from last week.
CryptoPunks made $4.8M in sales with 57 buyers and 76 transactions, almost a 26% decrease in sales volume from last week.
Sorare made $1.6M in sales with a total of 3k buyers who transacted 8k times – a 16% decrease from last week.
The biggest NFT markets or marketplaces where you can buy technically any NFT standard in the Ethereum network are OpenSea and Rarible.
OpenSea made $19.2M in sales with 12k buyers, almost a 73% increase in sales volume from last week.
Rarible made $2.8M in sales with 3k buyers, a 53% decrease in sales volume from last week.
What CryptoArt Is Telling Us
We finished up strong, as mentioned in the last report. For now, we need to wait and see how the market will develop in the upcoming days.
What NFT-Related Cryptocurrencies Are Telling Us
The market has been going sideways, and the Top 10 NFT cryptocurrencies on CoinGecko are down on average by 10-20% in the last 7 days.
Fear & Greed Index, which helps us understand what market participants feel at different stages. Not financial advice.
People still appear to be overly bearish in the markets, and this is shown in the index. If you go to this site and look at the charts, you can see that it took a couple of weeks / months to start climbing back up to more bullish territory when it got that low. So now is a good time to wait and see.
Remember, this is just an indicator to help us get a feel of the general markets.
Markets have been going sideways, but we still see strong movements and market participants in the NFT space. So now is a time to look around, explore, and wait to see how everything develops in the upcoming weeks and months.
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*All investment/financial opinions expressed by NFT Plazas are from our site moderators’ research and experience and are intended as educational material only. Individuals are required to research any product before making any investment thoroughly.
Entrepreneur. Software Engineer. NFTs enthusiast. #NFT