NFT projects thrive even as OpenSea volumes take a hit

Despite multiple attempts at vampire attacks, non-fungible tokens (NFTs) continue to gain momentum on OpenSea with an increasing number of unique users and transactions. However, the overall transaction volume of the NFT market lagged behind last month’s value of nearly $3 billion.

While there are NFT projects poised to enter the secondary market, the industry as a whole seems to be taking the next step towards the utility and integration of NFTs into Metaverse. In addition, global political uncertainty also has a significant impact on the market environment.

The price of ether (ETH) has dropped nearly 16% in the past seven days, and since most NFT projects are on the Ethereum network, NFT collectors tend to remain stageless, buying NFTs at low prices. For NFT collectibles, Azuki has made a considerable impact over the past 30 days, amassing over 80,000 ETH ($209,100,216) and taking top collectibles like Bored Ape Yacht Club (BAYC) and Crypto Punks off their heads stand out in the top spot. Likewise, Invisible Friends, which launched on February 23, has netted more than $23.1 million with a minimum price of 8.95 ETH ($22,010.74).

30-day average price/quantity for Azuki. Source: OpenSea

It’s not just new entrants shifting collectibles from their top spots in numbers, old designs are reemerging as market conditions resolve precarious conditions.

This is the state of the current NFT market as we enter the end of the first quarter.

3Landers NFT

Since entering the secondary market in February, 3Landers has slipped into the top spot for total trading volume with its disappointing but fascinating appeal and ties to The Doodles and The Simpsons, with over 11,000 ETH ($28,666,000) cumulatively traded .

Historical average price/volume for 3Landers. Source: OpenSea

3Landers, whose average selling price has risen 63% in the past 7 days, is one of the few projects that continues to rise on the floor after its unveiling, and is now at just 1.55 ETH ($4,056.35)

Backed by the Ethereum blockchain, 3Landers describes itself as “… an NFT project centered on community, adventure, and collaboration.” Perhaps this is the positivity that collectors need, given recent events.

As a community-focused project, 3Landers will rely on the talent, commitment and drive of its community to lead where the project can expand.

While some NFT projects are community-centric in their shared value, others are exploring the uncharted territory of building digitally sovereign states.

NFT world

The construction of NFT Worlds is centered on the metaverse. Each of the 10,000 NFT worlds is discoverable and unique, with the ability to build. Also, it is compatible with the sandbox game Minecraft.

NFT Worlds has seen massive growth over the past 7 days, reaching a low of nearly 18 Ether.

NFT Worlds 7 days lowest price.Source: NFT Price Floor

Over the past 30 days, NFT Worlds generated over $42.3 million in trading volume, half of the $21.3 million in the past seven days alone.

NFT world 7-day average price/volume. Source: OpenSea

NFT Worlds seems to be attracting Web3 advocates and developers by granting decentralization and APIs. A high-barrier digital realm, NFT Worlds is integrating a rental system later this year, allowing owners to rent out their worlds in exchange for a monthly fee in their in-game currency, WRLD.

WRLD runs on the Polygon network and will provide reward faucets for creators who meet the criteria and wish to integrate play-to-play (P2E) games using tokens.

It seems that investors place a lot of emphasis on open source and interoperable features as a vantage point for the next phase of Metaverse.

manufacturer

Created by Sartoshi, a script by the mysterious Satoshi Nakomoto, Mfers has risen to third place in total sales. The lowest price of Mfers has increased by nearly 66% over the past seven days, reaching 5.84 ether ($15,330).

Mfers 7-day average price/quantity. Source: OpenSea

These curved, right-facing bat Mfers were inspired and created by memes. Mfers spirit seems to have sparked something in the industry lately, as the average selling price has risen 43% in one place in seven days.

Out of a total supply of 10,000 Mfers in the series, there are approximately 5,100 unique holders. Currently, at 4 Ether ($10,950.08), the lowest price is up nearly 81% in the past 7 days.

Investors are proud that their investment will give them all the creative freedom, as Mfers has zero knowledge sharing (CC0), i.e. no copyrights and owners can build on top of them. The owners of CryptoPunk are having serious problems with their intellectual property (IP) rights, which is why some see Mfers’ Proof of Profile (PFP) as a token for culture.

big cat

Speaking of culture, another batch of cats has appeared on the scene. Tubby Cats entered the space, reaffirming the love of cats. Tubby Cats by Tubby Collective is a collection of 20,000 anime-inspired cats.

Since the launch of the whitelist on February 21, 2021, the series has amassed 9,000 unique holders with a total transaction volume of over $20.7 million.

Historical average price and quantity for Tubby Cats. Source: OpenSea

Tubby Cats is not a completely randomly generated collection; instead, each big cat is generated from 120 different themed palettes, all based on rarity.

The Tubby Cats series appears to have gained the attention and hearts of Crypto Twitter influencers as the series slipped to fourth place in total sales.

Although it’s still a long way from Cool Cats status, Tubby Cats have already impressed collectors of other items. Tubby Cats may be the latest feline-inspired project in the industry, but it won’t be the last.

CatBlox Genesis Series

It may have made it to No. 5, but the CatBlox Genesis collection is a collection of 10,000 cute, plump cats that live in CatBlox. Launched on February 17, there are already 5,400 holders out of 10,000, and the average selling price has risen by nearly 50% in the past seven days.

CatBlox 7-day average price and volume. resource: open sea

Since then, CatBlox Announce It partnered with sneaker brand Puma to dig deeper into its health and wellness program on its roadmap. While it’s unclear what the partnership with Puma means, Puma is gearing up for Web3. Puma has since changed its Twitter domain name to reflect “Puma.eth”. Apparently, the feline brand has purchased other cat-like lines, including CoolCats, Lazy Lions, and Gutter Cat Gang.

The CatBlox family understands the impact of powerful collaboration, uniquely considering the unique capabilities of each collaboration.

To date, CatBlox has sold over $15.1 million in total, highlight Its secret revelations and latest announcements.

Disclaimer. Cointelegraph does not endorse any product content on this page. While we aim to provide you with all the important information we can obtain, readers should do their own research before taking any company-related action and take full responsibility for their decisions, nor can this article be considered investment advice.

See more:

Leave a Comment

Your email address will not be published.