The crypto market is steadily recovering from a steep and volatile 2018, with many markets experiencing the first signs of growth. The total NFT sales for January 1-7 (as reported on Jan 8) were $25 billion across all games, mostly fueled by Bitcoin’s price increase throughout the year.
1/8: Ingress+ reached its highest number of players yet this past week at over one million users worldwide
2/8: Harry Potter Hogwarts Mystery has crossed over 100M in revenue since launching December 16th
A new year, new aspirations; 2021 was a fantastic learning experience for all of us in the NFT and crypto field, and we’re getting closer to real-world projects every week. Unfortunately, it seems that CT dramas are resuming, therefore we may see more short-term oriented founders abandoning their enterprises.
We’ll be adding a few of new parts to “The Weekly Rundown” town if they make sense in the coming weeks, beginning with a P2E/GameFi section as we have new launches and games mature and show that their economics work.
In general, the market’s circumstances will drive away a lot of short-term thinkers, giving us a “last hurrah moment” around early to late summer 2022, and as we all know, things will have to settle down at some time. So, even though we don’t like it, a bear market might begin in the next 5-8 months, so start learning some skills so you can grow and prepare for the next time.
Let’s take a short look at the data in the meanwhile.
The Week’s Big Sales
–All Time High in the City for $6.19 million –Mega Mutant Serum for $5.79 million –Dragon – Blue VOX #2054 for $5.02 million –CryptoPunk #2681 for $3.09 million –Dragon – Blue VOX #2054 for $5.02 million –Dragon – Blue VOX #2054 for $5.02 million –Dragon – Blue VOX #2054
What Market Data on Collectibles Tells Us
The Top Four Collectibles
This week is bizarre; Axie Infinity does not make the top four. For at least the past eight months, they’ve been up there.
Mutant Ape Yacht Club sold $93 million to a total of 1,123 customers who transacted 1,484 times, up 23% from the previous week.
Bored Ape Yacht Club sold $86 million to 263 customers who traded 297 times, up 91 percent from the previous week.
Prime Ape Planet achieved $51 million in sales, with 2,625 purchasers transacting 4,459 times – a 122 percent increase in sales volume compared to the previous week.
Doodles sold $47 million to 890 customers who transacted 1,203 times, a 168 percent drop in sales volume from 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 229k purchasers, OpenSea achieved $1.07 billion in sales, almost a 67 percent increase in sales volume from the previous week.
Magic Eden sold $45.69 million to 60 thousand people, representing an almost 7% drop in sales volume from the previous week.
Solanart achieved $13 million in sales with 10,000 purchasers, over a 37 percent increase over the previous week.
AtomicMarket generated $4.63 million in sales with 47k purchasers, over a 30% increase in sales volume from the previous week.
Rarible sold $4.2 million to 2k purchasers, a 9 percent decline in sales volume from the previous week.
What CryptoArt Is Trying to Tell Us
Even though the year has only just begun, one xCopy has been sold for $6.19 million, making it the largest NFT transaction of the year so far. There may be renewed demand in 1/1s when the market becomes bored of PFPs and more open edition drops with potentially large mint quantities.
Let’s have a look at it in more detail:
- So far in January, $18.4 million has been sold.
This year, there was a lot of volume coming into the area rapidly, but the current drop may make market players more cautious. With hundreds of new NFT projects being launched every day, it’s becoming increasingly difficult to identify the good ones, and sadly, as with supply and demand, most of the projects with no fundamental utilities and without promising founders will most likely go to There was a lot of volume entering the space pretty quickly this year, but this recent dump might make market participants more cautious. Every day that passes and with hundreds of more NFT projects being launched, it is getting hard to identify the good ones, and sadly as with supply and demand, most likely 90% of the projects with no fundamental utilities and without promising founders will just go to $0 and be forgotten in the upcoming years. Be safe, people! and be forgotten in the coming years. People, be careful!
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