Bored Ape Yacht Club avatars and Otherside land NFTs have been at the epicenter of attention in the past several weeks. Now top-grossing sales are also entering the LEDGER with nine out of the ten most expensive NFT sales for last week coming from Yuga Labs. Otherdeeds have now found a steady valuation despite the overall bearish outlook of the crypto market at the moment. Some buyers are swinging high, spending hundreds of thousands of dollars on these new land NFTs.
Because of the undoubted interest in Otherdeeds, the foundational Yuga Labs collection Bored Ape Yacht Club takes the top spot on the list this week. Bored Ape #17 switched owners four days ago for over $1 million dollars. The buyer paid this much because the seller had not claimed the corresponding Otherdeeds NFT yet, adding some hidden value to the Bored Ape. Hidden value with an estimate of more than $750,000 judging by the sold NFTs in this week’s charts.
Impressively, the only NFT breaking the pattern somewhat is CryptoPunk #4551, which switched owners for $658,010. While this collection was originally created by Larva Labs, it is now part of Yuga Labs’ portfolio, making the company the top-grossing NFT enterprise at the moment.
Top 10 NFT Sales – Week 18
- Bored Ape Yacht Club #17 – $1.12 million / 410 ETH – buyer’s wallet
- Otherdeed #33 – $984,090 / 333.33 ETH – buyer’s wallet
- Otherdeed #24 – $954,330 / 333 ETH – buyer’s wallet
- Otherdeed #66 – $855,630 / 290 ETH – buyer’s wallet
- Otherdeed #54 – $806,500 / 50,000 APE – buyer’s wallet
- Otherdeed #1890 – $796,440 / 280 ETH – buyer’s wallet
- Otherdeed #26 – $735,240 / 249 ETH – buyer’s wallet
- CryptoPunk #4551 – $658,010 / 230 ETH – buyer’s wallet
- Otherdeed #232 – $652,110 / 232 ETH – buyer’s wallet
- Otherdeed #91748 – $645,760 / 225 ETH – buyer’s wallet
Why are some Otherside land NFTs so expensive?
Of course, as with anything in the NFT space, buyers and sellers determine the value. However, there are some characteristics to Otherside land NFTs that tend to bring in the big bucks.
One of the more important attributes an Otherside land NFT may or may not have is a Koda. Koda’s still don’t have any utility much like the land plots themselves. However, these are the rarest possible attributes Otherside land can offer. Out of the current supply of 100,000 Otherdeeds, only 10% have a Koda. Considering this, it is not surprising that three of the top Otherdeeds sales last week are for NFTs with Kodas attached to them.
Still, rarity is not the only way to measure value in the NFT space. It is true that the most expensive Otherdeed to switch owners last week has a Koda. However, the next five top-grossing sales, each of which brought in over $730,000 to their owners, are for plots without Kodas.
In this sense, Otherside land NFT sales can be influenced by a number of factors. Rarity is one of them, however, the undeniable amount of hype and excitement surrounding all Yuga Labs projects should also be factored in. You can read more about what the Otherside project is here.
What’s more, you can follow DappRadar on Twitter to get the latest NFT updates straight to your feed. Head there and turn on your notifications to stay in the loop for the latest developments in the NFT space, including sales, floor price shifts, and much more.
