There is a good amount of development in the NFT space, and sales on different marketplaces are picking up. It’s interesting to see people talking about NFTs and what should be built after the small bear trend we entered. It seems to me that now is where the biggest projects are born.
Big Sales of the Week
A General Overview on the Markets
With crypto coins starting to find support on higher prices, the market sentiment is improving, potentially starting an interesting bull cycle in the NFT space in the upcoming months. However, CryptoPunks got added back to the top 4 collectibles in sales in the last 7 days, and Axie Infinity is still killing it, having one of its biggest weeks with $47.7M in sales.
What Collectible Market Data Is Telling Us
Top 4 Collectibles
As a quick summary, CryptoPunks got added back the top 4 collectible list; Axie Infinity is making crazy sales again.
Axie Infinity made $47.7M in sales with a total of 36k buyers who transacted 167k times – a 65% increase from last week.
NBA Top Shot made $8.3M in sales with a total of 38k buyers who transacted 332k times – a 17% decrease in sales volume from last week.
CryptoPunks made $8.2M in sales with a total of 125 buyers who transacted 157 times – a 198% increase in sales volume from last week.
Bored Ape Yacht Club made $7.7M in sales with a total of 968 buyers who transacted 1,923 times – a 140% increase in sales volume from last week.
The biggest NFT markets or marketplaces where you can buy technically any NFT standard on the Ethereum network are OpenSea and Rarible.
OpenSea made $45.9M in sales with 20k buyers, almost a 1% decrease in sales volume from last week.
Rarible made $2.5M in sales with 2,597 buyers, a 22% decrease in sales volume from last week.
What CryptoArt Is Telling Us
CryptoArt sales are slowly recovering. So let’s quickly break it down:
- March made a top at $205M in sales
- June currently has sold $16.18M
- July has sold already $440k
As stated in the last rundown issue, we see a small rebound in CryptoArt sales. Using the sales data from January ($13M) and June ($16M), we can see a turning point and an increase with a small rebound, after the peaks and decline from February ($91.4M), March ($205M), April ($103M) and May ($62M).
If you are a builder, it seems like a good time to build, and if you are a collector, it seems like a good time to collect. Just remember to manage your risk accordingly on any different ventures you embark on. The current sales data support a strong use case for NFTs and indicate a healthy “mega” sector being developed.
Don’t stay behind, be part of it.
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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