NFT sales fell 44% as crypto dipped, memecoins steal ‘mind share’ in Q2

July 1, 2024 Coin Telegraph

Volumes surge 205% in Axie revival as co-founder claims project is ‘healing’

July 11, 2022 Coin Telegraph

Interest in Axie Infinity appears to be picking up again following the launch of its new NFT land staking feature and ongoing upgrades to the Origin battle game mode.

Play-to-earn (P2E) Metaverse game Axie Infinity appears to be on the mend, with its NFT sales volume pumping 205% over the past seven days.

The project’s co-founder Jeff Zirlin echoed such sentiments via Twitter on July 8, after he stated that the project was “healing” in reference to the strong adoption of NFT land staking, the Ronin bridge being back up, and a notable uptick of game downloads and NFT sales.

22,000 Axies sold in the last 24 hours. Was at 7,000 a few weeks ago.

Origin growing quickly with the new Alpha Season. 4,600 downloads yesterday.

Bridge is up. Land (90% staked) is emitting AXS.

Nature is healing. pic.twitter.com/AdNzi8x4cb
— The Jiho.eth (@Jihoz_Axie) July 7, 2022

According to data from CryptoSlam, Axie infinity generated $1.3 million worth of sales over the past seven days from a total of 23,100 buyers, marking a 205% increase for the week.

One of the contributing factors to the sudden increase appears to be the surging appetite for Axie Infinity land NFTs following the launch of staking support on July 4. The staking feature enables land owners to earn weekly rewards in the game's native AXS token. At the time of writing, roughly 91% of the 16,794 circulating supply has been staked, according to data from the Ronin Chain explorer.

The project also launched the second phase of upgrades to its new game mode this month dubbed “Origin,” which had 600,000 sign-ups as of mid-June. The game is in early access mode ahead of an eventual global launch, and it enables users to collect, trade, and battle each other with their playable Axie monster NFTs. The upgrades were said to have fixed a host of bugs in-game.

The increasing NFT sales volume is likely due to the Ronin bridge relaunching on June 28. The bridge is a sidechain built for Axie Infinity which enables users to transfer assets between the game and the Ethereum mainnet. However, it had been offline since late March following the infamous $600 million hack.

Despite this, the 205% surge in volume over the past week only places Axie Infinity as the 18th highest selling NFT project within that time frame, a far cry from its chart-topping days in late 2021.

The Axie Infinity eco-system has suffered from a long downward trend since it peaked in interest in November. That month saw the project generate a whopping $753.9 million worth of NFT sales, while its native AXS token hit an all-time high (ATH) of $164.90. As of June, its NFT sales for the month totaled just $3.1 million, while AXS is down 91.4% from its ATH to trade at $14.18 at the time of writing.

Axie Infinity NFT sales volume: CryptoSlam

With player retention and gaming longevity being seen as crucial issues for the project, the Axie Infinity team has been exploring ways to expand the ecosystem of late.

In a July 9 blog post, the Axie Infinity team noted that its vision is to create an “entire gaming universe” with comprehensive lore similar to iconic series such as Star Wars, Final Fantasy, or the Lord of the Rings.

As part of the push, the team will be rolling out content focused on building up the story behind the game’s fictitious world, “Lunacia,” in partnership with gaming-focused decentralized autonomous organization (DAO) Strider.

The team also stated that it recently launched three new programs aimed at fostering community growth called the “Lunacian Codes, the Creator Program, and a fellowship collaboration.” The first two focus on rewarding users via referrals and content creation, while the latter provides funding for 200 fellowships as part of a creator academy.

NFT trading volume surges amid market and floor price crash

June 14, 2022 Coin Telegraph

Bored Ape Yacht Club

Eight of the top 10 NFT projects have posted at least a 115% increase in 24-hour trading volume as the floor prices of many top NFT collections tumble.

NFT trading volume has surged over the past 24 hours as crypto markets tank taking floor prices of many top NFT collections along with it.

A long list of top NFT projects such as Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Crypto Punks, and Sorare have all seen more than 100% increases in 24-hour trading volumes as investors look to snap up cheaper NFTs as floor prices tumble.

According to data from CryptoSlam, eight of the top 10 NFT projects in terms of 24-hour sales volume have posted at least a 115% increase in trading volume, with the only projects falling under that mark being Goblintown at 35.54% and Moonbirds at 64.11%.

Leading the pack is Yuga Labs’ BAYC NFTs, with a 262.79% surge over the past 24 hours to account for $7.1 million worth of sales.

Notably, the following three highest-ranked projects are also owned by Yuga Labs, with MAYC, Otherdeed, and CryptoPunks posting 173.49%, 157.88%, and 122.69% surges in 24-hour trade volume to represent $3.4 million, $2.6 million and $2.5 million worth of sales respectively.

Data from DappRadar also shows that OpenSea marketplace has been the biggest beneficiary of the increased trading volume over the past 24 hours, with the platform posting a 173.43% gain in trading volume for a total of $23.88 million worth of sales.

However, the number of traders on the platform also decreased by 15.39% to 29,300 within that same time frame, suggesting that only a small number of investors with relatively deep pockets are making moves.

It is also worth noting that even as projects such as the BAYC and CryptoPunks have seen their floor prices drop to 82.5 ETH ($96,700) and 47 ETH ($54,800) — down from their all-time highs of 153.70 ETH and 123 ETH — investors are still snapping up assets above the floors.

In the past 24 hours, CryptoPunks #8620 and #5690 went for 275 ETH apiece ($327,000 at current prices) while BAYC NFTs #393 and #3441 sold for 118 ETH ($140,000) and 105 ETH ($124,000).

Nifty News: Kraft Foods files for NFT and Metaverse patents, Seth Green gets his ape back, and more…

June 13, 2022 Coin Telegraph

BAYC

Kraft's NFT and Metaverse trademarks cover a long range of potential services including a virtual restaurant where users can earn rewards and virtual assets.

American food manufacturing and processing giant Kraft Foods Group has filed NFT and Metaverse patents for several of its popular brands.

The firm joins a host of mainstream companies such as Gatorade, Nike, Adidas, and Coca-Cola that have moved to secure their products and branding in the crypto/virtual sphere.

According to a June 13 Tweet from United States Patent and Trademark Office (USPTO) licensed trademark attorney Mike Kondoudis, Kraft Foods has locked in trademarks for Jell-O, Kool-Aid, Velveeta, Lunchables, Oscar Mayer, Philadelphia, and of course the Kraft brand.

The firm’s NFT and Metaverse trademarks cover a long range of potential services and products including a virtual restaurant where users can earn rewards and virtual assets, virtual food and drinks, NFTs and NFT-backed media, and marketplaces for virtual goods and NFTs.

Kraft Foods has filed trademark applications for
▶️ KRAFT
▶️ JELL-O
▶️ KOOL-AID
▶️ VELVEETA
▶️ LUNCHABLES
▶️ OSCAR MEYER
▶️ PHILADELPHIA

covering
✅NFTs, NFT-backed media + Digital tokens
✅NFT Marketplaces
✅Virtual restaurants, foods + drinks #NFT #Metaverse #Web3 #Crypto pic.twitter.com/Nu42rkw04I
— Mike Kondoudis (@KondoudisLaw) June 13, 2022

At this stage, it is unclear if Kraft will look to roll out any virtual offerings or promos soon, or if it is just looking to lock trademarks ahead of time. One of its brands already made a small play last year, however, with the beloved hot dog manufacturer Oscar Mayer auctioning off a pack of Dogecoin-themed “Hot Doge Wieners” via eBay in August 2021 that came with 10,000 free Dogecoins (DOGE).

Seth Green reunited with his ape

Seth Green has finally been reunited with the Bored Ape Yacht Club (BAYC) NFT that was swiped from him via a phishing scam, with the Hollywood actor and Robot Chicken co-creator stating that Ape #8398 “is home.”

After Green initially had his NFT stolen a month ago, the scammer sold it to user “DarkWing84” for 106.5 ETH or $144,000. Green immediately reached out to the buyer to sort out a deal online, with the NFT which he named “Fred Simian” having particular importance as its underlying IP is being utilized to create an animated cartoon show.

It appears there must have been a lengthy negotiation process as the NFT didn’t get back to the actor until late last week.

As the NFT was locked and unable to be purchased on OpenSea due to it being stolen, Green paid 165 Ether (ETH) worth roughly $224,300 at the time of writing via crypto escrow platform NFT trader to get his token back, suggesting he paid tip of nearly 60 ETH to Darkwing84 who returned the NFT in good faith.

Jim Carrey tokenizes original artwork for charitable causes

Iconic actor and comedian Jim Carrey is auctioning off an original tokenized art piece dubbed “Sunshower” via SuperRare, with all proceeds going to a nonprofit that supports food banks across the U.S. called Feeding America.

Apart from being known across the globe as a comedic actor, Carrey is also a respected artist who creates anything from physical paintings and illustrations to fully animated pieces.

The Sunshower NFT depicts an animated version of a vibrant acrylic canvas painting in which rain and bright color washes over a man’s face, with a spoken-word piece being played in the background.

At the time of writing the auction has one and half days to go, with the highest bid so far totaling 42.35 ETH or roughly $57,500.

I’ve been both blessed and cursed in this life with a vivid imagination and a burning desire to share my peculiarities and inspirations with you. This little mood enhancer is called Sunshower.
I hope this NFT does for you what it did for me… weeeeeeeee! https://t.co/vdiwD9v0rd
— Jim Carrey (@JimCarrey) June 9, 2022

NFT trading volume plunges

According to NFT data aggregator CryptoSlam, four of the top five blockchains in terms of sales volume have seen double-digit drops over the past seven days.

Within that time frame, trading volume on industry leader Ethereum is down 28.85% to $176.5 million, while second-placed Solana has also seen volume drop 13.71% to $24.9 million.

The biggest losers over the past week are third-ranked Binance Smart Chain and fifth-ranked ImmutableX with a whopping 46.59% and 58.63% plunge to account for $4.1 million and $1.3 million worth of volume a piece.

The only blockchain in the top five not to net yet hit a double-digit drop is the Flow network which has taken a 9% to account for $3.1 million worth of NFT sales volume.

Other Nifty News

Gordon Goner, the pseudonymous co-founder of Yuga Labs, issued a warning on June 11 about a possible incoming attack on their social media accounts under the Yuga Labs umbrella after receiving “credible information” that an insider from Twitter would help bypass the security of the accounts.

Global payments tech giant Mastercard has partnered with a number of leading NFT marketplaces to allow 2.9 billion cardholders to directly make NFT purchases without buying crypto first.

Moonbirds fly into NFT top spot with $290M sold in four days

April 19, 2022 Coin Telegraph

Moonbirds fly into NFT top spot with 0M sold in four days

BAYC

After selling for a mint price of 2.5 ETH on April 16, the floor price of Moonbirds has also quickly risen to 18.45 ETH.

The freshly launched Ethereum-based Moonbirds NFT project is soaring to the top of the trade volume charts after generating $290 million worth of sales in just four days.

There are 10,000 computer-generated pixel owl avatar NFTs in total, which were promptly sold out on April 16 for a mint price of 2.5 Ether (ETH) per NFT, or $7,700 at current prices. The floor price (minimum average sale) has since exploded on secondary markets, with OpenSea currently showing a hefty sum of 18.45 ETH ($56,800).

BLOOD MOON RISING #moonbirds pic.twitter.com/Jm6bqBVuVF
— beeple (@beeple) April 16, 2022

According to data from CryptoSlam, the project has generated more than $289.9 million worth of secondary sales (figure also includes mint sales). The figure places the project as the top-selling NFT collection over the seven-day and 30-day metrics, and second over the past 24 hours.

Looking at the 30-day chart, the gulf in volume is notable, with Moonbirds’ NFT sales figures a whopping 52% ahead of second-placed Azuki and its $189.3 million worth of volume, and 76% of the BAYC at $164.6 million.

DappRadar also highlighted that the Moonbirds #7963 NFT fetched the ninth-largest sale of all NFT collections over the past week at 135 ETH ($410,000).

*Top NFT Sales over past week: DappRadar*

The Moonbirds project is following a similar route to the Bored Ape Yacht Club (BAYC) by launching utility-focused NFTs that grant holders access to a private ecosystem and membership club.

According to the project’s roadmap, hodler benefits will include priority access to future drops, a membership club, merchandise, and early access to an upcoming Metaverse platform named “Project Highrise.”

The Moonbirds NFT collection was founded by the PROOF Collective, which is working on several NFT projects and also acts as an exclusive social club for the 1,000 holders of the PROOF Collective NFTs. The collectible membership passes have an eye-watering floor price of 91 ETH ($278,800) at the time of writing.

1/25

So why did I invest 120 $ETH into @moonbirds_xyz which is now valued at roughly 300 $ETH based on last sales?

Why was this such an easy play for me and why am I not selling yet?

Let's dive into Moonbirds and @proof_xyz pic.twitter.com/3zuS6IgCrn
— MoonCat2878 (@mooncat2878) April 18, 2022

Moonbirds’ impressive launch appears to be a result of investors heavily backing the founding members of the PROOF Collective, which includes tech entrepreneur and Digg founder Kevin Rose along with web3 investors Justin Mezzell and Ryan Carson.

An NFT collector who goes by “Cryptolocity” on Twitter highlighted Rose yesterday, noting that they backed the project due to his strong reputation, connections in the web2 and web3 worlds, along with his NFT focused podcast which has “contained some of the most life-changing ‘alpha’” for his listeners.

2/ First, the major reason why this project has seen such success is the people behind it all: Kevin Rose @kevinrose and his team Ryan Carson @ryancarson Justin Mezzell @JustinMezzell are very well known figure in the Web 2 and Web 3 world and are the ones spearheading it all
— Cryptolocity (@Cryptolocity) April 17, 2022

Pro Trader-Focused NFT Marketplace Blur Secures $11 Million in Seed Round Led by Paradigm

March 29, 2022 Bitcoin.com

Monthly NFT buyers dip below 800K as searches ‘fall off a cliff’

March 3, 2022 Coin Telegraph

Coin Telegraph

There were 796,009 NFT buyers on secondary markets in Feb, accounting for roughly $2.6 billion worth of sales. The figures mark significant declines compared to the record month before.

The unique number of NFT buyers in February dipped below 800,000 for the first time since October, and search volume for nonfungibles also dropped significantly.

According to data from CryptoSlam, there were 796,009 NFT buyers on secondary markets in Feb. (down 12% compared to Jan.) that accounted for roughly $2.6 billion worth of sales (down 40% on the month before).

A caveat to that however, is that January was a massive month for NFTs which may suggest the decreases in February are simply part of a relatively healthy pullback. January saw a record number of unique secondary NFT buyers at 904,13 and OpenSea also posted record sales volume in January totaling around $5 billion before pulling back to around $3 billion last month.

Looking at Google Trends, however, it appears that global keyword search volume for “NFTs” has also dropped significantly. Over the past week, interest has dropped roughly 60-70% from the heights of late January (Jan. 23- Jan.29.)

The U.S. represents the most interest globally at the time of writing while Japan currently shows the lowest interest in NFTs out of 61 nations, despite local tech and telecommunications giant Rakuten launching an NFT marketplace late last month.

NFT proponent and managing partner of NFT investment fund Sfermion Andrew Steinwold likened the current pullback to the bull market and subsequent crash of 2017/2018, as he questioned whether interest will pick back up again anytime soon.

Worldwide NFT search volume fell off a cliff

Reminds me A LOT of the crypto 2017 bull market and subsequent 2018 bear market

How long will the disinterest last until it starts to pick back up? Or will it? pic.twitter.com/4iQxcpLuYP
— Andrew Steinwold (@AndrewSteinwold) March 2, 2022

Specific reasons why general interest has waned so dramatically over the past month are unclear, although top platform OpenSea was the victim of a $1.7 million hack in February among other things.

The Russian and Ukrainian conflict may have also shifted the focus to cryptocurrencies, as global attention appears to have shifted to use cases such as digital payments, fundraising and storing value amid uncertain times.

March so far

CryptoSlam’s data also shows that 10 out of the top 12 NFT supporting blockchains have also seen a decrease in sales volume over the past 24 hours. The top two, Ethereum and Solana, have posted dips of 4.24% and 11% each, while the biggest losses are Avalanche and Panini with 27.79% and 36.20% respectively.

Third-ranked Flow and sixth-ranked Arbitrum are the only networks to see gains, with 20.89% and a whopping 539%.

NFT Analytics Platform Cryptoslam Raises $9M From Animoca Brands, Mark Cuban, Sound Ventures

January 7, 2022 Bitcoin.com

Solana secondary NFT sales reach half a billion in three months

November 3, 2021 Coin Telegraph

ada

CryptoSlam ranks Solana as the fourth-best NFT blockchain behind Ethereum, Ronin and Wax in terms of 24-hour sales volume.

Secondary sales volume for Solana (SOL) based nonfungible tokens (NFTs) has reached almost $500 million since the start of August.

According to data from CryptoSlam, secondary sales of Solana NFTs have generated a total of roughly $497.7 million from around 348,000 transactions as of Nov. 2, with the average sale per NFT tallying in at $1,500.

The data shows that Solana saw a record month for secondary NFT sales volume during September with a total of $189.4 million. While Solana is seen by some as an ‘ETH killer’ the Ethereum blockchain remains the most popular with NFT aficionados and secondary sales on Ethereum topped $2.2 billion that same month.

*Secondary NFT sales volume on Solana: CryptoSlam*

Messari research analyst Mason Nystrom highlighted the data via Twitter on Nov. 3, and noted that while Ethereum (ETH) still “dwarfs Solana in total NFT secondary sales,” the upstart network has quickly established itself as one of the top NFT blockchains in the space of a few months.

While Solana displays promising metrics in unique addresses (buyers and sellers) and a lower avg NFT sale price, Ethereum still dwarfs Solana in total NFT secondary volumes.

Still, Solana has become one of the top NFT blockchains by secondary trading in mere months. pic.twitter.com/9HfOp7IRut
— Mason Nystrom (@masonnystrom) November 2, 2021

CryptoSlam’s rankings of the top NFT blockchains sees Solana currently sitting at fourth in terms of 24-hour secondary volume with $1.9 million. Leading the pack are Ethereum ($37.7M), Ronin ($23.5M) and Wax ($4.5M).

Solana’s top NFT project is the Degenerate Ape Academy, which has generated $105.9 million worth of secondary sales since its launch in mid-August. The Degenerate Ape NFTs depict animated gorilla avatars with unique traits, and the project has seen $454,000 worth of secondary sales over the past 24 hours.

*Degenerate Ape NFTs: Degenerate Ape Academy*

According to data from CoinGecko, the price of SOL has gained 30.3% over the past 30 days to sit at around $225 at the time of writing. This recent pump has seen SOL tag a new all-time high of $229.76 earlier today. The market cap of Solana is now around $68.1 billion, making it the fifth-ranked digital asset in terms of total capitalization, and ahead of fellow ‘ETH killer’ Cardano (ADA) which has a market cap of $63.1 billion.

Cointelegraph Markets Pro has a price target of $250 per SOL by year-end, citing on-chain data from the DeFi sector and the derivatives market as key indicators for the prediction.

CryptoSlam

Seth Green reunited with his ape

Jim Carrey tokenizes original artwork for charitable causes

NFT trading volume plunges

Other Nifty News

March so far

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