While y00ts aren’t the most expensive NFTs in the market, trading activity is going through the roof. Together with Invisible Friends, the collection made a strong comeback, trailing just behind Bored Apes and CryptoPunks in the Top 10 NFT Collections. All while CryptoPunks continues to dominate the majority of high-priced NFTs, even though that list also shows some new names.
Top 10 NFT Collections saw floor prices up or stable
According to the DappRadar NFT Explorer, the top 10 collections either increased or remained stable in terms of 7-day floor price. On DappRadar the floor price is based on the cheapest sale in a collection during a certain time frame.
The chart above shows that the Bored Ape Yacht Club (BAYC) 7-day floor price has risen by over 40%. Amidst the FTX collapse, some of the affected BAYC holders had to sell their high-quality NFT assets, such as BAYC, at lower prices to compensate for their losses on the centralized exchange.
More than two weeks after the incident, crypto users have settled down from their trading strategy to mindset. As a result, we have also seen a recovery in the floor price of BAYC. We’re now seeing more confidence in the market as prices for NFTs have gone up.
BAYC trading volume and sales both fell by over 65%. These two figures reflect the level of activity among users. The drop in both figures may signify that holders expect BAYC to be traded at a higher price as an NFT asset. Also, there may have been a reduction in flipping activities.
The basis for these hints comes from the news that ApeCoin staking is coming soon. Holding an NFT from the BAYC or MAYC collection gives a higher interest to those who stake Apecoins. Therefore, not selling a BAYC or MAYC can bring extra financial benefits.
Pretty happy with this UI, there's still some validation to do to make sure all the staked $APE is under what you have in your wallet, but I think we're on track to have an alternative and open-source staking solution! pic.twitter.com/hj3TlDGcBP
— The Ape Collector ?? (@ApeCollector) November 26, 2022
y00ts NFT staking has brought positive metrics growth
The developments happening with ApeCoin, have already taken place in the y00ts ecosystem. y00ts is the latest favorite NFT collection on the Solana blockchain, launched this year by Dust Labs, the founder of DeGods. Last week the project opened up NFT staking to users, starting a new phase of its community-participatory generative art journey.
You can now stake your y00ts. (1/2)https://t.co/K3z3bFcbWy pic.twitter.com/jjfKqBH83B
— y00ts (@y00tsNFT) November 28, 2022
Holders of y00ts that stake their NFTs will receive y00ts points. These points are attached to the NFT. Users can spend them on rewards such as airdrops, physical goods, and sponsored brand activations.
y00ts aims to innovate copyright ownership for NFTs. The staking this time marks another innovative experiment of the project’s vision, allowing for greater community involvement.
The average trading price of y00ts over the past 7 days was $2,300, up 19.5% from the previous 7 days. Meanwhile, DappRadar also tracked a 78% increase in y00ts volume during this period, amassing $3.46 million and a 49% increase in sales, generating 1499 transactions.
The 3D Invisible Friends reveal drives up on-chain metrics
3D Invisible Friends is in the Top 10 Collections regarding trading volume this week. The 3D version series is a collaboration between Insivible Friends and digital artist Nguyen Nhut. Those 3D gif NFTs have been available to users since December 2. The collection features cute clay-style figures and a delightful color palette. No wonder it has stirred up the community.
3D Invisible Friends currently trades at a floor price of 0.478 ETH. The project generated $1.69M in volume in the past week, up 104%. In addition, the number of traders reached 1,752 and transactions 1,712, an increase of 68% and 107%, respectively.
Check out the list of NFT sales highlights
N.B. Dollar values given are correct at the time of sale.
Every week, DappRadar highlights not only the most expensive NFT sales but also the most interesting in the previous seven days. While huge numbers are sure to capture headlines, it’s also essential to highlight emerging trends and keep the DappRadar community ahead.
- CryptoPunk #4181 – $187,220 / 148.5 ETH – Owner’s Wallet
- Azuki #9143 – $172,160 / 135 ETH – Owner’s Wallet
- BAYC #1421 – $157,230 / 130 ETH – Owner’s Wallet
- Fidenza #845 – $130,310 / 107 ETH – Owner’s Wallet
- MAYC #14977 – $103,030 / 79.69 ETH – Owner’s Wallet
- 88888.eth – $53,172 / 41 ETH – Owner’s Wallet
- Otherside #81566 – $28,010 / 23.88 ETH – Owner’s Wallet
Other noteworthy findings
According to the latest industry report from DappRadar, the number of unique NFT traders in October increased by 18% to 1.11 million. New users are entering the NFT market, which could translate into increased acceptance of NFT and growing demand.
In addition, OPENSEA is running out of steam in terms of popularity as a trading platform. The once most favored NFT trading market dropped 8.3% of its market share in October compared to August and now holds less than 50% of the whole market. In contrast, OpenSea’s declining market share was accompanied by an increase in the presence of X2Y2 and Magic Eden.
