Despite a number of attempted vampire attacks, non-fungible tokens (NFTs) continue to have a strong run on OpenSea, with the number of unique users and transactions on the rise. However, the global volume of the NFT market is falling below last month’s figure of nearly $3 billion.
While there are NFT projects preparing to hit the secondary market, it appears that the industry as a whole is navigating the next move in NFT utility and integration in the metaverse. Additionally, global political uncertainties are also having a noticeable impact on the market environment.
The price of Ether (ETH) is down almost 16% in the last seven days, and since most NFT projects are on the Ethereum network, NFT collectors tend to remain unfazed, buying NFTs at bargain prices. For an NFT collection, Azuki has made a considerable impact in the last 30 days, amassing over 80,000 Ether ($209,100,216) and ousting blue chip collections like Bored Ape Yacht Club (BAYC) and Crypto Punks from their first places. Similarly, the launch of Invisible Friends on February 23 has already raised over $23.1 million with a minimum price of 8.95 Ether ($22,010.74).
It’s not just new entrants rotating cashes from their top ranks in total volume, but older projects are making a comeback as the market environment sorts out unstable conditions.
This is the state of the current market for NFTs as we enter the end of the first quarter.
3 Landers NFT
Surprising the market with its appeal and charm, and its relationship with Doodles and The Simpsons, 3Landers is ranked number one in total volume, accumulating more than 11,000 Ether ($28,666,000) since its arrival on the secondary market on February 19th.
The average selling price of 3Landers has increased by 63% in the last seven days and it is one of the few projects whose floors continue to rise after the reveal, now standing at a meager 1.55 Ether ($4,056.35).
Built on the Ethereum blockchain, 3Landers describes itself as a “…NFT project focused on community, adventure, and collaboration.” Maybe it’s the positivity collectors need in light of recent events.
As a community-focused project, 3Landers will draw on the talent, commitment and unity of its community to go as far as the project can expand.
While some NFT projects focus on community to share values, others explore uncharted territory by building digital sovereign nations.
NFT Worlds is built with the metaverse in mind and at its core. Each of the 10,000 NFT Worlds is explorable and unique, with the ability to build upon it. Furthermore, it is promoted to be compatible with none other than the sandbox game, Minecraft.
NFT Worlds has seen tremendous growth over the past seven days, hitting a low price of nearly 18 ethers.
In the last 30 days, NFT Worlds has generated over $42.3 million in volume, bringing in nearly half that amount in the last seven days alone, at $21.3 million.
NFT Worlds seems to appeal to Web3 advocates and developers who concede decentralization and APIs. As a digital land with a high cost of entry, NFT Worlds is integrating a rental system later this year, allowing owners to rent out their worlds in exchange for a monthly fee of their in-game currency, WRLD.
Operating on the Polygon network, WRLD will have a reward faucet for creators who meet the criteria and seek to integrate a play-to-earn (P2E) game using the token.
It seems that investors are highly valuing open source and interoperability features as good positions for the next phase of the metaverse.
Created by Sartoshi, a pun on the mysterious Satoshi Nakomoto, Mfers rose to third place for total volume. With a growth of almost 66% of the total volume in the last seven days, the minimum price of Mfers reached 5.84 Ether ($15,330).
These stooped, stick-wielding Mfers on the right are inspired and created by memes. The Mfers ethos seems to have recently triggered something within the industry, with the median selling price up 43% at one point in the seven days.
Out of a total offering of 10,000 Mfers in the collection, there are approximately 5,100 unique holders. Currently at 4 Ether ($10,950.08), the price floor has risen nearly 81% in the last seven days.
Investors take pride that their investment provides them with full creative freedom, as Mfers stand for creative commons zero (CC0), no rights reserved, and owners can build on them. CryptoPunk owners ran into intellectual property rights (IP) issues, which is why some see the Mfers Proof of Profile (PFP) as a symbol for culture.
Speaking of culture, another collection of cats has arrived on the scene. Tubby Cats has entered the space and reaffirmed the love that people have for cats. Tubby Cats, by the Tubby Collective, is a collection of 20,000 anime-inspired cats.
Since its whitelisted launch on February 21, 2021, the collection has already amassed 9,000 unique headlines and generated over $20.7 million in total volume
Tubby Cats is not a completely randomly generated collection, rather each tubby cat is generated from 120 different themed palettes on which the rarity is based.
The Tubby Cat collection appears to have won the attention and hearts of Crypto Twitter influencers, as the collection has slipped to number four in total sales volume.
Although it has a long way to go to reach Cool Cats status, Tubby Cats is already making an impression on collectors of other projects. Tubby Cats may be the latest feline-inspired project to purr its way into the industry, but it’s not the last.
CatBlox Genesis Collection
It may have worked its way up to fifth place, but the CatBlox Genesis Collection is made up of 10,000 cute, chubby cats who live on CatBlox no less. Launched on February 17, there are already 5,400 unique owners of the 10,000 and the average sale price has increased almost 50% in the last seven days.
Since then, CatBlox has announced its partnership with sports shoe brand Puma to continue its health and wellness initiatives on its roadmap. Although it is not yet clear what the partnership with Puma entails, Puma is preparing for Web3. Puma has since changed its Twitter domain to reflect “Puma.eth.” The feline brand has apparently acquired other feline-type collections, such as CoolCats, Lazy Lions, and the Gutter Cat Gang.
Understanding the impact of strong collaboration, the CatBlox collection has unique functionality with each collaboration.
With a total volume of over $15.1 million to date, CatBlox is giving to talk to his stealth reveal and latest announcement.
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