The week of March 18-25 saw a significant jump in sales for NFTs. This trend has continued, with more than $1 billion worth of cryptocurrency being traded this past Friday alone! That’s an increase from the weekly average of $173 million. What do you think about these numbers? Let us know your thoughts down below.
The “animoca brands” is a cryptocurrency that has been on the market for around 3 years. On March 18-25, 2022, it had an average weekly volume of $7,868,945.
People are eager to invest part of their income in additional NFTs ventures as cryptocurrency markets begin to rise in value. However, many individuals are presently attempting to start a slew of low-quality initiatives, and finding a new high-quality project is becoming more difficult.
Because every other important NFT collection has already priced out 95 percent of the world’s population, Book Games and Veefriends V2 is an interesting initiative for newbies to the industry.
Let’s take a brief look at the numbers.
The Week’s Big Sales
NonFungible.com’s top sales in the past 7 days
NFT Markets is a company that specializes in non-traditional
When compared to the previous seven days, NFT market sales are on the rise, with an average volume of 294 percent for OpenSea.
With 180k customers, OpenSea achieved $599 million in sales, almost a 294 percent increase in sales volume from the previous week.
With 15k purchasers, Magic Eden generated $3.65 million in sales, almost a 29% increase in sales volume from the previous week.
With 4k purchasers, Solanart generated $1.75 million in sales, over a 137 percent increase in sales volume from the previous week.
AtomicMarket produced $3.16 million in sales with 40k purchasers, down about 8.5 percent from the previous week.
Rarible sold $338k to 765 purchasers, a 24 percent increase in sales volume from the previous week.
With 4k customers, LooksRare generated $549 million in sales, about a 42 percent increase in sales volume from the previous week.
Metaverse
Every week, we witness an increase in interest in metaverse worlds; individuals just use the term “metaverse” without recognizing that many “metaverse platforms” are being built. As a result, we’ll go through the most important ones here.
With 354 purchasers, The Sandbox grossed $3.3 million in sales.
With 498 purchasers, Decentraland generated $3.5 million in sales.
With 58 purchasers, CryptoVoxels generated $274k in sales.
With ten purchasers, Somnium Space generated $135k in sales.
What Market Data on Collectibles Tells Us
In the NFT space, the top four collectibles by sales.
Bored Ape Yacht Club sold $68.8 million to 172 customers who transacted 211 times, a 22% reduction in sales volume from the previous week.
Mutant Ape Yacht Club produced $46 million in sales, with 570 purchasers transacting 707 times, down 18 percent from the previous week.
Azuki sold $36 million to 510k purchasers who transacted 783 times, a 359 percent increase in sales volume over the previous week.
MURI sold $26 million to a total of 4,756 purchasers who transacted 8,526 times, representing a 129 percent increase in sales volume over the previous week.
Games based on cryptography
Every week, there are new games that promise fantastic gameplay and a large community. Axie Infinity is now the most popular P2E platform in terms of daily active users. The top three most popular games in the previous seven days are shown below.
The volume of DeFi Kingdoms was $137 million.
Axie Infinity has a volume of $95 million.
Tiny World’s volume was $13.95 million.
What CryptoArt Is Trying to Tell Us
With the recent open edition Xcopy decrease, more NFT collectable market participants may be interested in CryptoArt. Sales have been steady compared to previous year, but we’ll have to wait and see how CryptoArt develops.
Let’s have a look at it in more detail:
- In January, $61 million was sold.
- In February, $45 million was sold.
- So far in March, $11.8 million has been sold.
Summary
The market seems to be filtering out low-quality initiatives, and the victors, at least in the Web3 PFP competition, are now being determined. Utility NFTs with a core value centered on the creator will continue to expand, but it will be difficult for numerous more collections to reach levels comparable to BAYC, while healthy levels can be attained, as the Veefriends collection is demonstrating.
The “animoca brands valuation” is a weekly rundown of the most popular NFTs on the market. The article provides information about the most recent sales and price movements for these assets.
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