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NFT collections such as Bored Ape Yacht Club and CryptoPunk sales dominate the top ten NFT sales by value lately as bargain hunters continue to cash in on the lower price of ETH. Another more noticeable trend is several sales of big-name branded ENS domain names as more brands leap into Web3 and metaverse opportunists make moves.
The highest value NFT sale in the last seven days was for a rare Ape CryptoPunk #4156 sporting a bandana, which changed hands for 2,691 ETH, or around 3.9 million. Behind this sale, we see a raft of punks and BAYC NFT collectibles changing hands. More interestingly, the floor price of CryptoPunk NFTs is up more than 73%, and the average cost has increased more than 50% in the last seven days.
Similar to the last few weeks, we also see several generative crypto art pieces selling through the Art Blocks platform. We see numerous Fidenza sales around $200,000, with the highest sale for Fidenza #589 for 150 ETH, or around $203,000 in the last seven days.
Another major trend is the sale of ENS domain names of recognized brand names. Similar to the early days of the internet, companies now expect to one day need to secure an ENS domain name to represent themselves in Web3. As such, opportunists started capturing brand names like Tesla.eth, Coke.eth, and Adidas.eth before Web3 was even a thing. Notably, some brands were ahead of the game and secured their ENS long ago.
However, fast forward a few years, and more brands than ever are trying to secure a piece of Web3, which arguably starts with an ENS domain name from which to anchor everything else.
This week we see Samsung.eth, Nike.eth, and Starbucks.eth all changing hands in the previous seven days. Samsung.eth, for example, was minted over two years ago for 3 WETH and sold on July 14, 2022, for 60 ETH.
Check out the complete list of NFT Sales Highlights below:
- CryptoPunk #4156 – 2,691 ETH / $3.98M – Buyers Wallet
- Noun 196 – 115 ETH / $169,376.59 – Buyers Wallet
- Ringers #244 – 79.97 ETH / $117,789.52 – Buyers Wallet
- Samsung.eth – 60 ETH / $88,741.80 – Buyers Wallet
- goblintown #8041 – 60 ETH / $88,621.8 – Buyers Wallet
- STEPN Common sneaker box #53637 – 50 ETH / $73,851.5 – Buyers Wallet
- Nike.eth – 60 ETH / $88,621.8 – Buyers Wallet
- Starbucks.eth – 50 ETH / $73,951.50 – Buyers Wallet
- Hermes.eth – 49.92 ETH / $73,734.98 – Buyers Wallet
- VEE Friends Patient Pig – 33.99 ETH / $50,079.38 – Buyers Wallet
NFT marketplace wars
The second quarter of 2022 has seen significant developments in the NFT industry despite the pullback in USD values. The trade count and volume of NFT sales in ETH are not drastically affected, which signals bullish sentiment for many investors. Furthermore, Gamestop’s new NFT marketplace, which launched a little under a week ago, has generated more trading volume in a few days than Coinbase’s NFT marketplace attempt since launch.
Ethereum’s leading DEX Uniswap has acquired NFT aggregator platform Genie to offer users NFTs from various marketplaces across all chains, alongside the ability to have a holistic view of the NFT market with reduced gas fees. As Ethereum’s de facto market maker, Uniswap’s acquisition will allow the DeFi protocol to improve its product offering.
We expect to see more diversification and blurring of lines as DEX’s and NFT marketplaces position themselves to ride the storm ahead. You can explore NFTs on DappRadar using our dedicated NFT explorer and track and analyze your own NFT holdings using the DappRadar Portfolio Tracker.
The above does not constitute investment advice. The information given here is purely for informational purposes only. Please exercise due diligence and do your research. The writer holds positions in various cryptocurrencies, including BTC, ETH, and RADAR.
