Key Takeaways

• Social news aggregator Reddit recently launched ‘Collectible Avatar’, its very own marketplace for NFT-based Reddit avatars. Reddit has partnered with Polygon to mint these on-chain avatars, which are currently available to members of the r/CollectibleAvatars invite-only subreddit for a sneak peek.

• Video game retailer GameStop also announced the release of its own NFT marketplace public beta. This highly anticipated development is in collaboration with Immutable X, which first announced its plans to launch an NFT marketplace back in February. 

• Terra-based projects are now starting to move to Polygon (MATIC), according to Polygon Studios CEO Ryan Wyatt, which includes high-profile projects such as NFT marketplace OnePlanet and NFT game Derby Stars. OnePlanet confirmed that over 48 NFT projects are moving to Polygon under the Ark*One rescue initiative.

• LooksRare recorded -1% and -12% decreases in sales and transactions, respectively. Meanwhile OpenSea‘s sales were positive at +6%, while its transaction count rose +13%.

Crypto.com NFT in the Spotlight

• Bring to life your NFT art with Crypto.com Pay x Tokenframe: Showcase your coveted NFT collection with beautifully crafted and high-res displays with TokenFrame, which connects to your wallet for an authenticated NFT viewing experience. Crypto.com Pay has partnered with Tokenframe to give users an exclusive offer of 10% off storewide. This offer ends 25 July 2022. Check out the Crypto.com website for more details.

• The upcoming NFT drop “Nostalgia” conveys the thematic sentiment of nostalgia frequently portrayed in the artist’s collage art and features various redeemable scenarios. Created by Caitlyn Grabenstein, this latest collection is an exemplary depiction of how memories often bleed into our dreams and how our dreams can translate into our lives. 

Highlights

• Meta doubles down on NFT bet despite fall in NFT trading volume

• Solana [SOL] NFTs stand to be the undisputed king of trading volumes in Q2 2022 as per latest report

• What bear market? NFT transaction volume hits ATH in Q2 despite price slump

• NFT lending volume soars on action by whales - speculation swirls NFTfi is prepping an airdrop

• Ryan Carson’s NFT fund, 121G, swept 34 Moonbirds NFTs for 749 ETH (about US$789k)

• LimeWire’s NFT marketplace officially goes live

• PSG sells US$220,000 NFT tickets for first Japan tour in 27 years

• Christie’s to auction NFT in celebration of mRNA COVID vaccine

• Gucci drops NFT collection “The Next 100 Years of Gucci”

• Coca-Cola launches pride-related NFT series

• Warner records UK teams up with audio company Bose to offer free NFT collection

• Bitmark raises $5.6M, launches interoperable NFT wallet

Transaction Volume Benchmar

Sources:

Magic Eden data refer to the on-chain activity of the tracked smart contracts.

LooksRare, OpenSea, and Coinbase data are retrieved from Dune Analytics.

Magic Eden, X2Y2, NBA Top Shot, and Solanart data are retrieved from DappRadar.

Notes:

1. Year-to-Date (YTD) volume is calculated from the first day of the current year to the current date.

2. Week-on-Week (WoW) % change is calculated based on the differences between two subsequent seven-day periods.  

3. Transaction count and average price refer to the number of traders and average price over the past seven days, respectively.

4. LooksRare was launched on 10 January 2022.

5. X2Y2 was launched on 16 February 2022.

Top Collectible

* Source: CryptoSlam.io

The following chart shows selected top NFTs and their historical floor prices.

Upcoming NFT Sales

The following information shows the top upcoming NFT sales and a sample of their art.

Project Name: Bearded Buddies
Sale Date: 04 Aug 2022
Price: 0.26 (ETH)
Items: 10,000
Market Cap: 2,600 (ETH)

Project Name: Krilian. The change!
Sale Date: 9 Sep 2022
Price: 0.2 (ETH)
Items: 8,888
Market Cap: 1,777.6 (ETH)

Project Name: Cryptophants Preservation Club
Sale Date: 24 Jul 2022
Price: 2 (SOL)
Items: 9,999
Market Cap: 19,998 (SOL)

Project Name: Shibacademy NFT game
Sale Date: 30 Jul 2022
Price: 1.5 (SOL)
Items: 8,888
Market Cap: 13,332 (SOL)

Project Name: Not okay babies
Sale Date: 20 Jul 2022
Price: 1.5 (SOL)
Items: 5,555
Market Cap: 8,332.5 (SOL)

* Sources: Rarity Tools, Crypto.com

Top Artists

The following information shows selected top artists (by sales volume on each platform) and a sample of their art.

Platform: Crypto.com NFT
Artist: Loaded Lions
Sales Volume (USD): $248,500

Platform: Magic Eden
Artist: Primates
Sales Volume (USD): $584,133

Platform: OpenSea
Artist: CryptoPunks
Sales Volume (USD): $15,544,800

Thank you for reading! We hope you find our Weekly NFT Update enlightening!

Hungry for more? Visit our Research Hub and University to access other insightful crypto research! 

Share with a friend if you like our email!

Share