Weekly NFT Update (Week 27, 06/07/2022 – 12/07/2022)
Reddit launches ‘Collectible Avatar’, an NFT-based profile picture marketplace. GameStop unveils public beta of its NFT marketplace. Terra-based NFT projects are starting to migrate to Polygon.
Key Takeaways
Social news aggregator Reddit recently launched ‘Collectible Avatar’, its very own marketplace for NFT-based Reddit avatars. Reddit has partnered with Polygon to mint these on-chain avatars, which are currently available to members of the r/CollectibleAvatars invite-only subreddit for a sneak peek.
Video game retailer GameStop also announced the release of its own NFT marketplace public beta. This highly anticipated development is in collaboration with Immutable X, which first announced its plans to launch an NFT marketplace back in February.
Terra-based projects are now starting to move to Polygon (MATIC), according to Polygon Studios CEO Ryan Wyatt, which includes high-profile projects such as NFT marketplace OnePlanet and NFT game Derby Stars. OnePlanet confirmed that over 48 NFT projects are moving to Polygon under the Ark*One rescue initiative.
LooksRare recorded -1% and -12% decreases in sales and transactions, respectively. Meanwhile OpenSea‘s sales were positive at +6%, while its transaction count rose +13%.
Crypto.com NFT in the Spotlight
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The upcoming NFT drop “Nostalgia” conveys the thematic sentiment of nostalgia frequently portrayed in the artist’s collage art and features various redeemable scenarios. Created by Caitlyn Grabenstein, this latest collection is an exemplary depiction of how memories often bleed into our dreams and how our dreams can translate into our lives.
Highlights
Meta doubles down on NFT bet despite fall in NFT trading volume
Solana [SOL] NFTs stand to be the undisputed king of trading volumes in Q2 2022 as per latest report
What bear market? NFT transaction volume hits ATH in Q2 despite price slump
NFT lending volume soars on action by whales - speculation swirls NFTfi is prepping an airdrop
Ryan Carson’s NFT fund, 121G, swept 34 Moonbirds NFTs for 749 ETH (about US$789k)
PSG sells US$220,000 NFT tickets for first Japan tour in 27 years
Christie’s to auction NFT in celebration of mRNA COVID vaccine
Warner records UK teams up with audio company Bose to offer free NFT collection
Transaction Volume Benchmar
Sources:
Magic Eden data refer to the on-chain activity of the tracked smart contracts.
LooksRare, OpenSea, and Coinbase data are retrieved from Dune Analytics.
Magic Eden, X2Y2, NBA Top Shot, and Solanart data are retrieved from DappRadar.
Notes:
1. Year-to-Date (YTD) volume is calculated from the first day of the current year to the current date.
2. Week-on-Week (WoW) % change is calculated based on the differences between two subsequent seven-day periods.
3. Transaction count and average price refer to the number of traders and average price over the past seven days, respectively.
4. LooksRare was launched on 10 January 2022.
5. X2Y2 was launched on 16 February 2022.
Top Collectible
* Source: CryptoSlam.io
The following chart shows selected top NFTs and their historical floor prices.
Upcoming NFT Sales
The following information shows the top upcoming NFT sales and a sample of their art.
Project Name: Bearded Buddies
Sale Date: 04 Aug 2022
Price: 0.26 (ETH)
Items: 10,000
Market Cap: 2,600 (ETH)
Project Name: Krilian. The change!
Sale Date: 9 Sep 2022
Price: 0.2 (ETH)
Items: 8,888
Market Cap: 1,777.6 (ETH)
Project Name: Cryptophants Preservation Club
Sale Date: 24 Jul 2022
Price: 2 (SOL)
Items: 9,999
Market Cap: 19,998 (SOL)
Project Name: Shibacademy NFT game
Sale Date: 30 Jul 2022
Price: 1.5 (SOL)
Items: 8,888
Market Cap: 13,332 (SOL)
Project Name: Not okay babies
Sale Date: 20 Jul 2022
Price: 1.5 (SOL)
Items: 5,555
Market Cap: 8,332.5 (SOL)
* Sources: Rarity Tools, Crypto.com
Top Artists
The following information shows selected top artists (by sales volume on each platform) and a sample of their art.
Platform: Crypto.com NFT
Artist: Loaded Lions
Sales Volume (USD): $248,500
Platform: Magic Eden
Artist: Primates
Sales Volume (USD): $584,133
Platform: OpenSea
Artist: CryptoPunks
Sales Volume (USD): $15,544,800
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