NBA Top Shot

NFT Market Sales Begin to Improve After Last Week’s Massive Market Slump

19/09/2021 by Idelto Editor

Seven days ago, non-fungible token (NFT) marketplaces saw sales nosedive after reaching all-time highs during the month of August. A week later sales have rebounded to a degree and NFT marketplaces like Opensea, Rarible, and Superrare have seen improvements in terms of seven-day trade volumes.

Opensea, Rarible, Hic et nunc, Makersplace, Superrare See NFT Weekly Volumes Improve

On September 12, 2021, Bitcoin.com News reported on the fact that non-fungible token (NFT) sales had plummeted 86% on September 10 from a mid-August all-time sales high. The report noted that the top NFT marketplace by sales volume, Opensea, saw its seven-day sales slide 52.47%. A variety of NFT markets and popular collections had seen sales slow down dramatically between September 10th to the 13th.

NFT marketplaces Aavegotchi, Superrare, and Foundation.

However, a week later, NFT sales are rebounding to some degree and popular markets and collections are picking up steam. Statistics from dappradar.com indicate that Opensea saw $629.35 million in trade volume across 172,267 traders.

Weekly volume has improved by 0.94% and the number of Opensea traders has jumped by 9.02%. Opensea is compatible with the Ethereum and Polygon networks. The second-largest NFT project by weekly volume on September 19 is Axie Infinity with $110.61 million in seven-day sales.

NFT marketplaces Rarible, Opensea, NBA Top Shot, Makersplace, Hic et nunc, Axie Infinity, and Atomicmarket.

Despite being the second-largest in terms of seven-day volume, Axie Infinity volume is ultimately down 23.93% during the last week. Rarible’s volume during the week was $4.9 million and it’s up 60.27% higher than last week.

The Tezos-powered Hic et nunc NFT marketplace raked in $4.51 million and is up 35.69% this week. The marketplace Superrare.co took in $3.31 million and increased 11.92% in seven days. Makersplace did well this week raking in about $557K in trade volumes and an increase of 31.83%.

NBA Top Shot, Atomicmarket, Aavegotchi, Foundation NFT Volumes Slide — Old 2017 Rare Pepe Series 1 Card Enters Top Ten Sales

NBA Top Shot, Atomicmarket, Aavegotchi, and Foundation all saw losses in weekly trade volume as percentage losses range between 17.94% to 59.53%. The largest NFT sale this week stemmed from the Bored Ape Yacht Club (BAYC) collection, as BAYC #81 sold for $1.9 million this week.

Top non-fungible token (NFT) sales during the last seven days according to statistics from dappradar.com.

A dominant force in this week’s top ten NFT sales includes NFTs stemming from the Artblocks collection. An older NFT, RAREPEPE Card 1, Series 1 sold for $683.75K or 200 ether 18 hours ago making it into the top ten NFT sales category this week.

Weekly stats from nonfungible.com’s market data indicates that last week’s NFT sales on September 11 were around 36,095 sales. This week there are now 46,390 NFT sales with an increase of around 28.52%. In terms of the number of unique wallets which bought or sold an NFT asset, nonfungible.com stats show 31,255 active market wallets.

What do you think about NFT trade volumes from different marketplaces rebounding from last week’s slump? Let us know what you think about this subject in the comments section below.

Dapper Labs and Flow Blockchain to Get a Boost From Big Tech as Studio Partners With Google

15/09/2021 by Idelto Editor

Google is joining forces with the blockchain firm Dapper Labs in order to help bolster Web3 development, blockchain gaming, and non-fungible token (NFT) technology. The blockchain company’s CEO Roham Gharegozlou tweeted about the deal on Tuesday noting that the firm was “amped to welcome Google to the Flow blockchain.”

Google to Collaborate With Dapper Labs

Various reports indicate that the American multinational technology company that specializes in Internet-related services, Google, has partnered with Dapper Labs. The Google collaboration announcement follows Dapper Labs’ recent partnership with Filecoin.

Speaking with Forbes’ contributor Michael del Castillo, Janet Kennedy, the vice president of Google Cloud North America, explained that “it’s really about helping them with rapid and sustainable growth.” Kennedy further elaborated that blockchain tech is continuing to advance.

“Blockchain technology is becoming more and more mainstream. So companies like Dapper need scalable, secure infrastructure to grow their business, and even more importantly, support their networks,” Kennedy remarked.

Dapper Labs CEO Is ‘Amped to Welcome Google to Flow,’ Google’s Shaky Past With Crypto

Dapper Labs is the team behind projects like Cryptokitties, NBA Top Shot, and the Dapper Wallet. Additionally, Dapper Labs also operates the Flow blockchain project which aims to be “built for the next generation of apps, games, and the digital assets that power them.” On Twitter, the CEO of Dapper Labs, Roham Gharegozlou, confirmed the partnership as well and mentioned a few statistics.

“Amped to welcome Google to [the] Flow blockchain,” Gharegozlou said. “In 1 year since #onFlow mainnet: 2.2M unique wallets, less than half from @nbatopshot, 248 mainnet contracts (cf @flowverse_), [and] 18.5M blocks and 49.7M tx. Now with 3000+ new devs building, Google jumps onboard to help scale,” he added.

Google’s entry into the crypto space has been shaky with the company’s new policy for cryptocurrency ads in June, and when the ad policy went into effect during the first week of August. The company also faced a class-action lawsuit in July 2020 when Google, Twitter, and Facebook were accused of harming blockchain and crypto firms when it banned cryptocurrency advertising in 2018.

The latest partnership with Google will bolster Dapper Labs as the ‘Big Five’ technology and analytics company plans to provide Flow with infrastructure and scaling tools.

What do you think about Google partnering with Dapper Labs? Let us know what you think about this subject in the comments section below.

End of August’s NFT Sales Tapped All-Time High at $1 Billion, Last Week’s NFT Sales Hit $821 Million

03/09/2021 by Idelto Editor

Data shows that non-fungible token (NFT) assets continue to break record sales week after week as statistics show over $1 billion in NFT sales took place during the last week of August. Meanwhile, this week’s data shows $821 million in NFT sales have been settled so far, dropping a hair since the week prior.

Weekly Stats Show NFT Sales Are Still on Fire

Non-fungible tokens (NFTs) have become extremely popular and a great number of NFTs are selling for hundreds of thousands or millions of dollars in crypto. Statistics from nonfungible.com’s market history indicates that on August 29, 2021, seven-day sales broke an all-time high (ATH) at $1 billion in overall sales across all markets and NFT collections. Data from September 1, 2021, indicates sales are down from the ATH at $821 million this week.

End of August's NFT Sales Tapped All-Time High at $1 Billion, Last Week's NFT Sales Hit $821 Million — Statistics via nonfungible.com’s weekly data on September 3, 2021.

Cryptopunks is the top collection selling during the last seven days according to dappradar.com weekly NFT sale statistics. The Cryptopunks project saw $246 million in volume, up 7.32% since the week prior.

The second-largest NFT collection in terms of volume is Mutant Ape Yacht Club (MAYC) which saw $210 million in trade volume. A collection of NFTs called “The Loot for Adventurers” captured the third-largest NFT volumes this week, commanding $150 million in seven days.

Opensea Marketplace Commands Top Volumes, The Loot for Adventurers’ NFTs Bring Top Sales

Coming in fourth place this week is Axie Infinity as the NFT gaming universe built on Ethereum saw $144 million in weekly volume. The fifth-largest volume belongs to the NFT collection called Art Blocks which saw $144 million in seven days as well.

The top NFT marketplace according to dappradar.com in terms of 24-hour sales is Opensea. The Opensea marketplace saw $179.5 million in volume during the last 24 hours.Opensea is followed by Axie Infinity, Superrare, the Tezo’s NFT market called Hic et nunc, NBA Top Shot and Rarible.

The marketplace Rarible is followed by markets such as Polygon’s Aavegotchi, the Wax blockchain’s Atomicmarket, and the Marketplace that leverages the Ethereum network, Foundation. During the last 24 hours, the top NFT sale belongs to The Loot for Adventurers’ NFT called Bag #748, which sold for 250 ether or $945K. The Bag #748 NFT is followed by Bored Ape Yacht Club #17, which sold for 200 ether or $755K.

What do you think about the massive volume and super expensive NFT sales during the last few weeks? Let us know what you think about this subject in the comments section below.

Wu-Tang Clan’s Ticalion Stallion Method Man to Drop ‘Tical World’ NFT Comic Art

08/08/2021 by Idelto Editor

Clifford Smith Jr., better known by his stage name Method Man from the rap supergroup the Wu-Tang Clan, announced plans to launch a non-fungible token (NFT) collection called “Tical World.” The tokenized comics and Killa Beez-centric art was designed by the New York artist Alex Smetsky.

Wu-Tang Member Method Man to Launch Killa Beez-Centric NFTs

The popular member of the rap supergroup Wu-Tang Clan, Method Man has revealed he’s stepping into the non-fungible token (NFT) industry. Method Man is releasing an NFT comic series called the “Tical World” chronicles and “Part 1: The Origin,” which offers a slew of features from the Wu-Tang rapper. The NFT will include never-before-released music from Method Man, 3D animations, and apparel.

The well known member of the rap supergroup Wu-Tang Clan, Method Man.

Essentially, in terms of apparel, the NFT owner can get a VIP rewards card from the American rapper’s clothing line Tical Athletics. Last year, Method Man also launched a cannabis brand that leverages the name Tical as well. The Wu-Tang rapper coined the cannabis term ‘Tical’ back in 1993 and it’s been represented in hip-hop culture ever since. The Tical World NFT art will also be signed by Method Man and the artist Smetsky.

Method Man Teams up With Flow Blockchain and Tunego

The NFTs will feature the only copies of the original Tical World characters which will be issued on the Flow blockchain, the same protocol that issues NBA Top Shot. NFT collectors will be able to capture “community-owned crypto-characters,” according to a write-up published by Rolling Stone. Besides leveraging the Dapper Labs’ Flow blockchain technology, the Wu-Tang rapper’s NFTs will utilize Tunego Vault as well.

On August 6, a Twitter handle by the name Tical World introduced itself online and said: “Get Ready! Tical World is coming.” The same day, the official Flow blockchain Twitter account also tweeted about Method Man’s upcoming NFTs.

“Open worlds continue to collide as incredible musicians make their move to blockchain,” the Flow blockchain account said on Friday. “We can’t wait to enter Tical World with legendary emcee Method Man, a true comic book aficionado launching his very own comic universe of exclusive NFTs with Tunego.”

What do you think about the Wu-Tang Clan rapper Method Man introducing NFT comics called “Tical World?” Let us know what you think about this subject in the comments section below.

Survey Shows 3 out of 4 Sports Fans Are Skeptical About the Longevity of NFT Investments

28/07/2021 by Idelto Editor

Over the last year and a half, non-fungible tokens (NFT) have seen massive hype and millions of dollars worth of sales executed at auctions. A recent survey produced by bonusfinder.com shows sports fans are doubtful of the NFT craze as the poll’s findings show nearly three out of four people are “moderately skeptical” about the long-term outcome of NFTs as an investment.

Sports Fans Are Skeptical of NFTs but 62% Know About the Technology

Non-fungible tokens have been a very hot topic in 2021 and worldwide Google Trends (GT) data shows the subject reached an all-time high in terms of Google queries in mid-March. Since then, however, GT data shows interest has dropped significantly as search queries for the term “NFT” slid from a top score of 100 to this week’s score of 38. Just recently, the web portal bonusfinder.com published a survey with 1,009 sports fans in the U.S. revealing what they thought about NFTs. Roughly 64.1% identified as men and 35.7% identified as women and participant ages ranged from 18 to 83, with an average age of 38.

The research highlights that interest in NFTs is highest in states like California, Hawaii, Washington D.C., Nevada, and Vermont. Queries for the search phrase “NBA Top Shot” trended the highest in New Hampshire, Rhode Island, Delaware, Massachusetts, and New Jersey. The Bonusfinder survey shows that 62% of the respondents knew what an NFT was and 16% admitted they didn’t know. 23% were “unsure” what a non-fungible token (NFT) was and around 9% said they were “extremely comfortable” describing the technology. 28% of the participants said they were “uncomfortable” or “extremely uncomfortable” discussing the NFT subject with others.

The Bonusfinder study shows that 40% of sports fans are uncertain about the longevity of NFTs and 39% said they were “excited.” 29% of the 1,009 sports fans detailed that they were confused by NFTs. “Despite having already sold for millions of dollars,” Bonusfinder’s survey notes, “34% of sports fans also admitted feeling very skeptical about the long-term investment future of sports NFTs, compared to less than 4% who were completely bought in and another 23% who identified as being a little skeptical.” The NFT study adds:

Generally speaking, 52% of sports fans agreed sports NFTs were an investment bubble, which may be an astute observation of the current market condition.

Fans of Specific Sports Teams Likely to Purchase NFTs, 1 in 5 Have Already Invested in Sports NFTs

Another interesting finding indicates that one in five sports fans have invested in sports-related NFT products and in 2021, the average sale was close to $600. The most popular products among the survey respondents included “NBA Top Shot (52%), digital trading cards (47%), and MLB Champions NFTs (43%).” Interestingly, 19% of NFT investors surveyed who had purchased NFTs previously had purchased Rob Gronkowski Championship Series NFTs. The survey also shows that fans of specific sports teams tend to purchase NFTs.

“Fans of the Chicago Bulls (27%), Boston Celtics (25%), New York Nicks (24%), and Cleveland Cavaliers (18%) were the most likely to purchase NFTs, and inspiration for investing most commonly came from friends (52%), family members (40%), and news articles (38%),” Bonusfinder researchers emphasized. “Twitter (23%) was the most popular sports NFT social media inspiration, and Tesla founder Elon Musk (12%) was the top influencer.”

The Bonusfinder study concludes by saying it’s hard to say how long the NFT hype will last. Despite this, the findings show, people are familiar with NFTs, sports fans are purchasing them, and a small fraction of people are comfortable describing the technology. At this point in the game, nearly three out of four people are at least “moderately skeptical” in regard to the overall longevity of sports NFTs as investment vehicles.

What do you think about the recent survey concerning sports fans and NFTs? Let us know what you think about this subject in the comments section below.