The NFT market is increasingly different from the rest of the cryptocurrency ecosystem. First, because it does not seem to suffer in the same way from the decline that is shaking prices and investors. Some will say that this is due to its character as a speculative bubble in the process of inflating. But the success of these digital collectibles is obviously more lasting than this soapy growth in which some want to lock it up. And non-fungible tokens continue to spread beyond the borders of a crypto zone that is exploding under the volumes of its transactions.
It is not on the side of Bitcoin that you should currently look for the most interesting returns. But much more in the field of NFT tokens which continues to accumulate records in the cryptocurrency sector. With the latest example being the Axie Infinity project, whose development is as infinite as its name. And whose AXS token recently imposed a rise of more than 1300% in a few weeks. This with an ATH that propelled its price above $50. While the rest of the market suffered a summer siesta that was more imposed than chosen.
One example among others that demonstrates the frenzy that has gripped this sector. And who just saw historic CryptoPunks achieve new highs in weekly transaction volumes. This with over $207 million recorded in the last week alone. This represents more than 60% of the activity of this domain according to the data provided by the site The Block.
And this following a massive purchase of 100 copies of this collection, made by a single Ethereum address. All in two separate operations and for an average price set at around 26.5 ETH per unit. This still represents the sum of just over $60,000 at the time of the operation. And the payment of 5 ETH by the mysterious buyer so as not to have to go through the auction box or gas costs on the Ethereum network.
Opensea explodes the counters
And it is in this context that the co-founder of the Opensea platform has just revealed some hardly believable figures. This following record fundraising over $100 million made less than two weeks ago. But more recently with transaction volumes that exceed in 24 hours all of those carried out over the whole of last year. That is a record of 95 million dollars over the first two days of this month of August which has just begun.
” In 2020, OpenSea achieved a total transaction volume of approximately $21 million. In the last two days, we’ve made $95 million. The growth curve of NFTs is crazy. – Devin Finzer
And while bubble lovers return to inflate their balloons, the NFT market is imposing itself in the crypto landscape. This at a time when the cryptocurrency market is not recording much very interesting. If not a rise that seems to be resolving as quickly as it appeared. And which makes these tokens non-fungible the place to be for lovers of effective returns.
The NFT The Vogu Project
With as its last remarkable – and nevertheless chaotic – launch the project The Vogu which shipped the sale of its robotic characters in just a few minutes. This for 7777 unique copies at an initial and unit price of 0.07 ETH. And which are already for (re)sale on the Opensea platform for a minimum investment (floor price) of 0.5 ETH. This already puts it in 6th position of the top sales with a total volume of 3668 ETH, or about 9 million dollars. And an increase of more than 1000% for its very first week of existence.
Which is far from the 51,240 ETH in volume imposed by the emblematic CryptoPunks on this same platform. That is a jackpot of more than 128 million dollars which remains very clearly unequaled for the moment. But which nevertheless lets imagine the development potential that projects like the Apes could end up obtaining. The latter with a current floor price of 8.4 ETH, while they were on sale for a unit price of 0.08 ETH only 3 months ago. When we were talking about effective and fast returns…
But be careful, because this type of investment is no less risky than for “classic” cryptocurrencies. And the current euphoria can be the source of a runaway that is sometimes a source of risk. This requires you to be well informed before taking a position. And don’t invest more than you can afford to lose.
This article is about cryptocurrency news. It is not financial investment advice. Any position must be accompanied by personal research and requires cross-referencing several sources before launching. DYOR!