Markets are still irrational, but we are starting to see ETH moving to solid NFT projects with utility. A big example of a project that is killing it is Gary Vee’s Book Games that now is having its next drop with VeeFriends 2.
Let’s quickly look at the data.
Big Sales of the Week
Top sales in the last 7 days by NonFungible.com
NFT market sales are having a slowdown compared to the last 7 days and a 45% average decrease in volume for LooksRare and OpenSea.
OpenSea made $412M in sales with 193k buyers, almost a 44% decrease in sales volume last week.
Magic Eden made $1.37M in sales with 9k buyers, almost a 40% increase in sales volume last week.
Solanart made $700k in sales with 5k buyers, almost a 26% decrease in sales volume last week.
AtomicMarket made $2.32M in sales with 33k buyers, almost a 41% decrease in sales volume last week.
Rarible made $441k in sales with 902 buyers, a 45% increase in sales volume last week.
LooksRare made $439M in sales with 3k buyers, a 20% decrease in sales volume last week.
Every week we see the interest in metaverse worlds; people just throw the word metaverse around without realizing that different “metaverse platforms” are being developed. So here we cover the top ones.
The Sandbox made $7.6M in sales with 851 buyers.
Decentraland made $2.7M in sales with 504 buyers.
CryptoVoxels made $429k in sales with 85 buyers.
Somnium Space made $155k in sales with 8 buyers.
What Collectible Market Data is Telling Us
Top 4 collectibles by sales in the NFT space.
CyberBrokers made $41M in sales with a total of 5k buyers who transacted 10k times – a 999% increase in sales volume from last week.
Bored Ape Yacht Club made $18.4M in sales with a total of 70 buyers who transacted 86 times- a 1% decrease in sales volume from last week.
Mutant Ape Yacht Club made $13.3M in sales with a total of 257 buyers who transacted 354 times- a 8% increase in sales volume from last week.
CloneX made $12.5M in sales with a total of 247 buyers who transacted 320 times- a 22% decrease in sales volume from last week.
There are more games that promise great gameplay and a big community every week. Currently, Axie Infinity is number one in the P2E world by daily active users. Below are the top 3 games in volume in the last 7 days.
DeFi Kingdoms made $105M in volume.
Axie Infinity made $92M in volume.
Pegaxy made $14.2M in volume.
What CryptoArt is Telling Us
February closed a little bit weaker compared to other months and March looks like it’s going to under-deliver also. CryptoArt sales are declining little by little and it seems that a new cause is more competition for attention, and liquidity is drying a little bit.
Let’s quickly break it down for perspective:
- January sold $61M
- February sold $45M
- March has sold so far $6.7M
It seems that there is no clear direction in the markets lately so it’s just a matter of wait and see. Most NFTs that are starting to show traction are tied with utility one way or another. Now NFTs are shifting to 80% utility and 20% of collectibles and markets will most likely start reflecting that soon. The volume of most collections is still down so you should watch out.
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