NFT sales chirpy: $5 billion sales record was broken as Bored Apes, Loot and CryptoPunks jumped. The three hottest new projects generated $81.6 million in August alone, representing about 9% of total NFT sales volume. NFT frenzy Cryptocoin. com.
NFT craze knows no bounds
Mutant Ape Yacht Club, Loot (for Adventurers) and Bloot (not according to the Weak) have made a splash over the past two weekends, contributing to massive increases in gas prices, according to the latest DappRadar report tracking new decentralized apps. The Fungible token (NFT) space completed its best month ever, completing $5 billion in sales volume, while the data collection and analytics firm analyzed the three hottest NFT projects, providing comprehensive financial metrics, collection distribution insights, and detailed social and technical insights.
The Mutant Ape Yacht Club (MAYC) of 20,000 NFT collections joined an elite ecosystem and quickly became the sixth most valuable NFT collection, grossing over $228.3 million just ten days after its launch. While the project benefits Bored Ape owners, it offers a lower entry point to anyone who missed the Bored Ape Yacht Club (BAYC).
On August 28, Yuga Labs offered BAYC holders the Mutant Serum, an NFT that allows original Bored Apes to transform into Mutant Ape, for free. Mutant Serums in three different layers (M1, M2 and M3) belong to a different collection called Bored Ape Chemistry Club. The rest of the collection went through a public sale auction with the original price of 3 Ethereum (ETH) that could go as low as 0.01 Ethereum.
Loot draws attention
A collection of 8,000 unique pieces containing eight randomly generated words, Loot has surpassed $221.3 million in less than two weeks and has quickly become the most valuable NFT collection ever. The report states:
Each Loot NFT contains a bag of words that can be interpreted in different ways. This way, each owner will have a unique vision for their piece, enabling the community to build something unique on top of each NFT.
“Someone said on Twitter, “An improvement on Loot NFT,” and it immediately paid off. It’s a do-what-you-can-do collection based on the spontaneity and creativity of the community, and that’s one of the main reasons it’s an instant hit – it’s not just imagination. Januškas, CEO and co-founder of DappRadar Skirmantas at the same time, commented on the successful launch of Loot.
Modesta, Head of Research and Finance at DappRadar, highlights the desirability of Loot and gives a strong signal that we may have a whole new paradigm entering the NFT space, Modesta says:
Loot NFTs were issued for the gas-only series, with $221 million in sales on the secondary market overnight.
Bloot is a collection of 8, 008 unique pieces containing 8 randomly generated words that were released as “his direct and colorful parody” right after Loot. Dozens of projects have sprung up on top of Bloot, which generated over $30.6 million in less than a week, with additional tools similar to loot derivatives.