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A new year and new goals; 2021 was a great learning experience for all of us in the NFT and crypto space, and every week we get more close to the real projects in the space. But, unfortunately, it looks like CT dramas are starting again, so we might see more short-term minded founders dropping out from their projects.
In “The Weekly Rundown” town, we will be adding a couple of more sections if they make sense along the upcoming weeks, starting with a P2E/GameFi section as we get new launches and games begin to mature and prove that their economics works.
In general, this market’s conditions will flush out a lot of short-term minded people, and this will most likely give us a “last hurrah moment” around early to late summer 2022, and as we all know, at one point, things will have to cool off. So even though we might not like it, maybe a bear market could start in the next 5-8 months, so start learning some skills so you can do some building and get ready for the next time.
In the meantime, let’s quickly look at the data.
Big Sales of the Week
–All Time High in the City for $6.19M
–Mega Mutant Serum for $5.79M
–Dragon – Blue VOX #2054 for $5.02M
–CryptoPunk #2681 for $3.09M
What Collectible Market Data is Telling Us
Top 4 Collectibles
Really crazy this week; Axie Infinity does not make it to the top 4. They have been up there for at least the last 8 months.
Mutant Ape Yacht Club made $93M in sales with a total of 1,123 buyers who transacted 1,484 times – a 23% increase from last week.
Bored Ape Yacht Club made $86M in sales with a total of 263 buyers who transacted 297 times – a 91% increase from last week.
Prime Ape Planet made $51M in sales with a total of 2,625 buyers who transacted 4,459 times – a 122% increase in sales volume from last week.
Doodles made $47M in sales with a total of 890 buyers who transacted 1,203 times – a 168% decrease in sales volume from last week.
NFT Markets
The biggest NFT markets or marketplaces where you can buy technically any NFT.
OpenSea made $1.07B in sales with 229k buyers, almost a 67% increase in sales volume last week.
Magic Eden made $45.69M in sales with 60k buyers, almost a 7% decrease in sales volume last week.
Solanart made $13M in sales with 10k buyers, almost a 37% increase in sales volume last week.
AtomicMarket made $4.63M in sales with 47k buyers, almost a 30% increase in sales volume last week.
Rarible made $4.2M in sales with 2k buyers, a 9% decrease in sales volume last week.
What CryptoArt is Telling Us
The year is just starting, and already an xCopy had a sale of $6.19M, making it the biggest NFT sale for this year so far. There might be an interest in 1/1 again as the market is getting tired of PFPs and more open edition drops that could sometimes have huge amounts of mints.
Let’s quickly break it down for perspective:
- January sold so far $18.4M
Summary
There was a lot of volume entering the space pretty quickly this year, but this recent dump might make market participants more cautious. Every day that passes and with hundreds of more NFT projects being launched, it is getting hard to identify the good ones, and sadly as with supply and demand, most likely 90% of the projects with no fundamental utilities and without promising founders will just go to $0 and be forgotten in the upcoming years. Be safe, people!
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*All investment/financial opinions expressed by NFT Plazas are from our site moderators’ research and experience and are intended as educational material only. Individuals are required to research any product before making any investment thoroughly.
Entrepreneur. Software Engineer. NFTs enthusiast. #NFT
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