This week, it was a rough ride for the majority of NFTs. The relative marketcap dropped by more than 10% over the course of this week as prices dipped below $1 in some cases. Meanwhile, EOS saw an increase in its value by 20%, and TRON became one of only two platforms to release an update since mid-September.
NFTs are a type of cryptocurrency that can be staked. These cryptocurrencies are used to create proof-of-stake consensus in the network. In order to stake your NFT, you need to keep it on an exchange or wallet that supports this type of consensus.
The NFT space never ceases to amaze us. From huge businesses using community buzzwords that make people squirm to punk4156 being sold for 2500 ETH, even the latest Pak’s drop Merge gave collectors extra value due to a fault in the original smart contract. There’s a lot going on, but let’s focus on the numbers.
The Week’s Big Sales
–CryptoPunk #4156 for $10.35M –Right-click and Save As Guy for $7.09M –Ross Ulbricht Genesis Collection for $6.28M –Some Other Asshole for $2.28M –Ross Ulbricht Genesis Collection for $6.28M –Ross Ulbricht Genesis Collection for $6.28M –Ross Ulbricht Genesis Collection for $6.28M –Ross Ul
What Market Data on Collectibles Tells Us
The Top Four Collectibles
Axie Infinity achieved $99 million in sales, with 158 thousand consumers transacting 499 thousand times, down 22% from the previous week.
CryptoPunks sold $55 million to 84 purchasers who transacted 124 times, representing a 206 percent increase in sales volume over the previous week.
BAYC sold $33 million to a total of 118 purchasers who transacted 132 times, representing a 12 percent increase in sales volume over the previous week.
ApeKidsClub generated $25 million in sales, with 3,777 purchasers transacting 7,820 times, a 431 percent increase in sales volume over the previous week.
NFT Markets is a company that specializes in non-traditional
The biggest NFT Markets is a company that specializes in non-traditional or marketplaces where you can buy technically any NFT.
With 143k purchasers, OpenSea generated $461 million in sales, down almost 24% from the previous week.
AtomicMarket produced $5.84 million in sales with 59k purchasers, a drop of over 65 percent from the previous week.
Solanart produced $6.67 million in sales with 10,000 consumers, down over 22% from the previous week.
Rarible achieved $3.19 million in sales with 2,685 purchasers, down 10% from the previous week.
What CryptoArt Is Trying to Tell Us
Let’s have a look at it in more detail:
- In October, $95 million was sold.
- In November, $66 million was sold.
- So far in December, $135 million has been spent (including a $92 million sale by Pak).
xCopy is now doing well in the market, and as said in the introduction, even when Pak makes errors, he adds value to his collectors, so you can’t go wrong with Pak.
People are talking a lot about an NFT bear period, but lots of big sales are still happening, at least in the collectible and crypto art side of things for established artists. So it’s not clear if we will see a huge bear market, but more like downtrends in different parts of the market at other times. This week the NFT Markets is a company that specializes in non-traditional were super red on a week-to-week basis.
The “NFT staking pool” is a service that allows users to stake their NFTs in a pool. The returns from the pool are split among all members of the pool, which increases your overall amount of NFTs. Reference: nft staking pool.
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