Market analytics platform Cryptounfolded released data this month showing that non-fungible tokens (NFTs) sales on OpenSea, the largest marketplace for digital collectibles, fell by 60% from Q2 to Q3.
Despite the weakness of the crypto market, investors can still find opportunities in the NFT space. The following is a highlight of some of the movers and shakers in the NFT world over the past seven days.
- YuGiYn brings popular Japanese manga and anime art phenomena to the NFT world.
- Iconic Moments is leveraging its curation skills to present iconic historical art.
- DeGod has become the latest collection to switch to a royalty-free scheme.
YuGiYn is a collection of 8,888 characters that takes the popular Japanese manga and anime art phenomenon and applies it to NFTs and the metaverse. There are 4 districts in the virtual world and players can move between districts and interact.
With $1.68 million in volume and a floor price of 0.2 ETH ($260), YuGiYn was one of the top ten for weekly sales last week. The reason: the project recently minted or published a unique digital asset on a blockchain so that it can be bought, sold, and traded. The idea was to build a “digital economic zone through Tokyo Culture” so that users across the world get a chance to explore an urban Japanese theme.
CryptoNinja Partners (CNP) is a 22,222-piece collection featuring ninja-themed cartoon animals. The 20k collection includes four different animals, such as pandas, bears, ghosts, and hawks, each with unique traits. In the five months since it started, the average price of a CNP NFT has risen fto $1,850 from $400. It’s from NinjaDAO, one of the largest NFT communities in Japan with over 40,000 participants, and its popularity reflects its upcoming marketplace, a CNP Friends smartphone app, and collaboration with various regional governments in Japan.
OpenSea is the official sales portal for CryptoNinja and they have a current floor price of 1.40 ETH ($1,850). The NFT collection surged 129% surge in the past week.
DeGod, a collection of 10,000 Solana-based NFT, gained popularity earlier this year when it bought a basketball team in actor Ice Cube`s BIG3 league for $625,000. Now, it is riding high in the weekly NFT sales charts and is poised to make it into the top 10 collections.
It has become the latest collection to switch to a royalty-free model, aiming to protect itself from future legal action. The owner of NFTs usually sets the royalties during minting. Every time an NFT creation is sold on a marketplace, the original owner receives a percentage of the sale price. NFT royalty rates typically range from 5-10%. DeGod has decided to remove royalties, citing the move as the right thing to do for its business. Popular Ethereum NFT collection CryptoPunks also has a zero percent royalty structure.
DeGod has racked up $1.3 million in sales over the last week on the Solana blockchain with a big floor price of 500 Solona ($15,000).
The Art Pass by Iconic Moments
Iconic Moments has brought The Art Pass to the world of NFTs, giving holders VIP access to limited, rare, and never-before-seen digital art. The project is working together with 300 museums and cultural brands to put historical events, pop culture, and art on the blockchain for the
first time. The collection wants to provide membership and access to a real-world art community with access to airdrops, tickets to cultural events, and other collaborations.
Over $440k in sales volume and a floor price of 0.5 ETH ($650) are promising statistics for the Art Pass’ first week of sales.
Investing in cryptocurrencies and other initial coin offerings (ICOs) is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or other ICOs. Because each individual’s situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein. As of the date when this article was written, the author does not own the cryptocurrencies or NFTs mentioned above.
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