NFT sales

Virtual Metaverse Plots Outpace Top NFT Collection Sales, Play-to-Earn Tokens Surged in Value This Year

06/12/2021 by Idelto Editor

During the last seven days, virtual lands sold in the metaverse have outpaced a great number of non-fungible token (NFT) sales. Moreover, metaverse native crypto tokens like axie infinity, sandbox and decentraland and play-to-earn digital assets in general have jumped significantly in value this year.

Metaverse Properties Outpace NFT Collections — Play-to-Earn Tokens Rise

Following the meme-crypto hype, the decentralized finance (defi) trend, and the non-fungible token (NFT) craze, the metaverse has become a big deal. Essentially, a metaverse is a different version of the internet that supports virtual environments, items, collectibles, weapons, and sometimes play-to-earn features. Virtual worlds like Second Life, Minecraft, and Roblox can be considered iterations of the metaverse but in recent times, blockchain technology has entered the realm.

For instance, out of the $2.3 trillion crypto economy, $25 billion of it belongs to play-to-earn (P2E) digital assets. Axie infinity (AXS) is the largest P2E token in terms of market capitalization with a valuation of around $6.5 billion.

While AXS has lost 25% during the last week, AXS is up 20,824% year-to-date (YTD). The second largest P2E token is sandbox (SAND) with a $4.6 billion market valuation. SAND lost 32% this past week but has gained 11,597% YTD.

The third-largest market valuation in terms of P2E assets is decentraland (MANA) with a market cap of around $4.4 billion. MANA has lost 32% this week as well but has gained 3,693% YTD in USD value. Other top P2E tokens in terms of market cap size include gala (GALA), wax (WAXP), illuvium (ILV), and mobox (MBOX).

Staking Land in the Metaverse Can be Expensive — The Sandbox Captures $70M in Weekly Sales

In addition to metaverse and P2E tokens gathering massive value during the last year, in recent times land in the metaverse has been a hot commodity. Metrics from nonfungible.com indicate that the NFT market history for the last seven days shows The Sandbox has been the top contender. Sales stemming from The Sandbox metaverse saw more than $70 million in sales during the last seven days.

That’s about $10 million more than the sales produced by the Bored Ape Yacht Club (BAYC) NFT collection which saw $59 million. Moreover, The Sandbox sales are much larger than the Cryptopunks NFT collection sales which captured $17 million last week. The virtual reality platform powered by the Ethereum blockchain, Decentraland has seen the sixth largest number of weekly sales with $6.6 million last week.

The biggest sales on Decentraland were land plots and estates worth between $289K to $758K. While The Sandbox outpaced Decentraland sales, land plots sold for much lower values as land exchanged hands this past week for $44K to $68K per plot. However, virtual land adjacent to Snoop Dogg’s Sandbox estate recently sold for $450K in ethereum. The average USD price for The Sandbox metaverse products during the last week was $15K across more than 4,400 sales.

What do you think about the metaverse and P2E tokens gaining a lot of value this year? What do you think about all the metaverse land sales? Let us know what you think about this subject in the comments section below.

Adidas Steps Into the Metaverse by Partnering With NFT Projects Bored Ape Yacht Club, Punks Comic

03/12/2021 by Idelto Editor

The German multinational corporation that crafts athletic shoes, sportswear, and accessories, Adidas AG is teaming up with the non-fungible token (NFT) brands the Bored Ape Yacht Club, and the comic series Punks Comic. Adidas revealed last week that the company partnered with Coinbase and believes the metaverse is one of the most “exciting” developments in digital.

Adidas Partners With Bored Ape Yacht Club, Punks Comic, and Gmoney

Adidas wants the world to know it is entering the world of blockchain technology and metaverse collectibles in a big way. On December 2, the company’s Twitter account announced that it teamed up with the cryptocurrency investor Gmoney, the Bored Ape Yacht Club (BAYC) NFT project, and Punks Comic.

“Today we leap Into The Metaverse with [Bored Ape Yacht Club], [Gmoney] & [Punks Comic]. It’s time to enter a world of limitless possibilities,” Adidas wrote on Thursday. The tweet was liked over 8,000 times and retweeted more than 4,000 times. The tweet also leads to a web portal called Adidas Metaverse which says:

It’s happening. Gmoney, Punks Comic and the Bored Ape Yacht Club lead Adidas into the Metaverse. Let’s go.

Adidas Wallet Holds More Than $200K in NFTs, Nikeland Revealed in Roblox Metaverse

The company has also updated its Twitter profile picture with a BAYC image. Adidas purchased Bored Ape Yacht Club #8,774 which was last sold for 46 ether or $156K at the time of settlement. The BAYC has heart-shaped sunglasses, a gold hoop for earrings, a “bored” look, a fisherman’s hat, and blue fur. In the recent Adidas tweet, the company has the BAYC sporting a yellow Adidas jacket with the classic three-stripe design.

#NewProfilePic pic.twitter.com/Dve8TbXT9k

— adidas Originals (@adidasoriginals) December 2, 2021

The address that purchased the BAYC holds 13 different NFTs from 11 unique collections according to dappradar.com stats. If Adidas is the owner of the wallet, it also owns Punks Comic: “The Hunt for the Lost Robbies” which was purchased for 6.95 ether. The Punks Comic and the recently purchased BAYC #8,774, are the most expensive NFTs in the wallet. The other NFTs held in the wallet that holds BAYC #8,774, are between $17 to $549 in floor value per NFT.

It has not yet been revealed when the BAYC and Adidas merged NFTs will be issued and released to the public. During last week’s reveal, Adidas detailed it was partnering with the crypto exchange giant Coinbase but also explained it was working with The Sandbox virtual blockchain world. The complete details of The Sandbox collaboration has yet to be revealed as well.

The company’s main competitor Nike revealed this month the business is also focused on the metaverse. On November 18, Nike published a blog post about “Nikeland,” which explained it has established itself in the virtual world Roblox. Nikeland on Roblox aims to be a “place where competition and creativity are abundant for all.”

What do you think about Adidas stepping into the Metaverse in recent times? Let us know what you think about this subject in the comments section below.

Monthly NFT Metrics Dive Bomb, NFT Sales Measured in USD Slip 16%

23/11/2021 by Idelto Editor

Non-fungible token (NFT) sales have dropped considerably during the last month as cryptocurrency values have seen significant losses in recent times. NFT sales saw a quick spike when a number of crypto assets neared all-time price highs in mid-November, but sales quickly plummeted back down following the crypto market downturn.

A Number of NFT Sales Slide Following Crypto Market Downturn

Throughout the year, NFTs have seen massive demand and markets have processed billions of dollars in sales. In the midst of the all-time highs bitcoin, ethereum, and numerous other crypto assets saw in mid-November, NFT sales regained momentum after a downward slump in sales since October 24.

The spike in NFT sales took place on November 15 and lasted only 24 hours. Since the end of October, the number of NFT sales dropped 28.79% according to market metrics from nonfungible.com. Despite the number of NFT sales sliding, the U.S. dollar value of sales stemming from October 24 until today is not such a drastic plunge, only down 16.73%.

The drop over the last 30 days can be seen across popular NFT marketplaces and some of the most popular NFT collections. For instance, during the last month, Opensea sales have dropped 29.22% and the number of traders on Opensea also slid by 15.32%, according to dappradar.com statistics. Two Solana NFT marketplaces saw sales dive bomb this past month as Magic Eden saw sales drop by 11.28%, and Solana Art sales dipped by 68.36%.

NFT marketplaces like Superrare sales are down 33.56% and Rarible lost 20.09% this past month. The NFT platform Foundation saw sales drop by 18.47%, NFT sales on Pancakeswap have slipped 90.61%, and after the Tezos-based marketplace, Hic et nunc returned, sales are down 46.97% in 30 days. The Flow-based NBA Top Shot’s sales have slipped this past month as well and are down 11.33% on Tuesday.

However, not all NFT platforms that allow people to buy and sell digital collectibles have seen sales drop. The blockchain-based game Axie Infinity’s NFT sales are up 41.35% and the number of Axie Infinity traders has jumped 42.94% last month.

The NFT collection Cryptopunks has seen sales rise over the last month gaining 274.35% since October 24. Wax blockchain sales on the Atomicmarket NFT marketplace are up 313.7% in 30 days and the Ethereum-based metaverse world Decentraland’s NFTs sales are up 339.09% this past month.

Meanwhile, specific NFTs are still selling for millions or hundreds of thousands of dollars in crypto depending on the collection. Cryptopunk 9,998 sold this month for $529.77 million at the time of sale, or 124,450 ether. An NFT called “A Coin for the Ferryman” sold for six million dollars or 1,330 ether. Approximately 20 NFTs sold for over $1 million during the last 30 days according to dappradar.com statistics.

Being the most expensive digital asset sold in 30 days, Cryptopunk 9,998 represented a large portion of the $1.8 billion in Ethereum-based NFT sales last month. Although the Cryptopunk 9,998 sale was controversial, and some didn’t consider it a sale at all. The top NFT collections during the last 24 hours include JRNY NFT Club V2, Axie Infinity, Chain Runners NFT, The Sandbox, Wolfgame, and Cryptopunks, respectively.

What do you think about the slump in NFT sales during the last month? Do you think NFT sales are sliding because crypto markets have slipped in value? Let us know what you think about this subject in the comments section below.

Rarible Marketplace Users Can Now Create, List, and Trade Flow-Based NFT Collectibles

11/11/2021 by Idelto Editor

On November 10, the non-fungible token (NFT) marketplace Rarible.com and the Rarible protocol announced an integration with the Flow blockchain. The announcement details that Rarible users can now create, list, and trade Flow-based NFTs on the marketplace.

Rarible Partners With Flow Blockchain

The NFT market Rarible.com and the Rarible protocol have revealed the support of the Dapper Labs crafted blockchain network Flow. Rarible’s announcement explains that Flow-based NFT users will see “extremely low gas fees and a swift user experience.” For instance, data shows on Thursday, November 11, ethereum (ETH) network fees are 0.012 ether per transaction or $57.98. Rarible’s announcement notes that Flow’s network fees are around $0.0001 per transfer.

“Moreover, since Flow has been created with both end-users and developers in mind, we also integrated it with the Rarible Protocol, which means that you can now make use of fully open-source infrastructure to build NFT projects with Flow’s refined developer ergonomics,” the Rarible team details.

The Dapper Labs created Flow blockchain is well known for various NFT projects like NBA Top Shot and Cryptokitties. Flow recently partnered with Filecoin and joined forces with the tech giant Google in order to help bolster Web3 development, blockchain gaming, and non-fungible token (NFT) technology.

Rarible announced that it would integrate with Flow at the end of June. At the time, the NFT marketplace explained that it also raised $14 million in a Series A funding round. According to statistics from dappradar.com, Rarible’s all-time sales are around $264.69 million and it’s the sixth-largest NFT project in sales. Flow’s NBA Top Shot NFTs have seen $728.23 million in all-time sales and it’s the fourth leading NFT project in terms of overall sales.

What do you think about the NFT marketplace Rarible integrating the Flow blockchain this week? Let us know what you think about this subject in the comments section below.

Q3 NFT Report Shows Non-Fungible Token Markets ‘Are in Phase of Dynamic, Unstoppable Growth’

06/11/2021 by Idelto Editor

Non-fungible token (NFT) assets have seen significant demand since the beginning of 2021 and third quarter statistics show that key indicators have continued to rise. Just recently nonfungible.com published its Q3 2021 NFT Quarterly Report which shows active wallets increased, the number of NFT buyers has risen, and the number of sellers has grown faster than the amount of buyers.

NFT Action Spikes Higher in Q3

NFT market action in Q3 2021 broke previous recorded quarterly metrics as NFT demand continues into the last few months of the year. The web portal nonfungible.com’s researchers published a study that covers 2021’s third quarter and data shows that most indicators are growing. For instance, active wallets, the number of wallets that have interacted with an NFT smart contract, increased 102.52% from 203,719 active wallets in Q2 to 412,578 in Q3.

NFT buyers increased by 166.73% from 97,658 in Q2 to 260,489 in the third quarter. Sellers jumped from 40,056 to 122,910 and saw a much larger 206.84% increase during the last quarter. The amount of U.S. dollars exchanged for NFTs in Q2 was $782 million but in Q3 it rose a great deal to $5.9 billion.

“During the volume of USD traded all-time high at the end of August, we saw another all-time high in terms of active wallets,” nonfungible.com’s Q3 report notes. “The Weekly Volume which was already almost $91M per week climbed to $1.674B within 2 months.” Nonfungible.com’s researchers add:

After this peak, we notice that the weekly volume stabilizes at a level almost 3 times higher than its previous level, at around $300M per week.

In terms of loyalty, NFT patrons like metaverse NFTs are the most loyal and this is followed by NFT collectibles. Sports, games, art, and utility NFTs follow collectibles as far as NFT loyalty is concerned. Collectibles saw the most sales capturing 76% of sales while 9% of sales were focused on art NFTs. Sports would be the least sold NFTs with only 1% of the sales in the third quarter.

Q3 Report Indicates That the ‘NFT Market Is Evolving Fast and at an Exponential Rate’

The biggest collectible NFT projects include Cryptopunks and Bored Ape Yacht Club (BAYC). In terms of collectible NFTs “the primary market share has more than doubled, to represent 75% of the entire collectibles market,” the study’s researchers detail. “This extremely high rate reflects the relative saturation of this segment: too many assets issued for too little resale, or at lower prices.”

The researcher’s report concludes that the market is evolving fast and at “an exponential rate.” The liquidity has been unprecedented but also “more of a speculative and volatile market than ever before,” the Q3 NFT report explains. “The recent growth of the NFT industry has been almost unbelievable, in just a few short months, the billion-dollar mark was crossed in traded NFTs, followed by billion per quarter and only then to be surpassed by billion per month,” nonfungible.com’s study reveals. The researchers further conclude:

If we are to believe the current figures, the market is in a phase of dynamic and unstoppable growth, with no shadows hiding in the corners. However, the reality is a little different and we would like to be clear that indicators such as the traded volume in USD or the number of trades are not the best metrics by which to monitor the market as they only reveal the very tip of the iceberg.

What do you think about the non-fungible token (NFT) asset action in the third quarter? Let us know what you think about this subject in the comments section below.