Check out the NFT Sales Highlights ranking between August 28th and September 4th
An NFT from the Solana DeGods collection has sold for a whopping 7,033 SOL, or around $220,000 ahead of the latest y00ts NFT drop from creators Dust Labs. The sale bucks the 600 SOL average sale price for a DeGods NFT by more than 6400 SOL to become the third highest value NFT sale in the past week.
However, the sale of BAYC #6588 looks artificial as the trading history reveals that the individual used a new wallet the purchase the BAYC for 77 ETH, then sold it to another new wallet 24 hours later for 700 ETH. A practice we see time after time as holders try to inflate the values of their NFTs artificially.
DeGods average and sale price has been surging over the last week as rumors about the latest y00ts NFT drop from creators Dust Labs circulated through the crypto-verse. We also saw more DeGod sales for around $20,000 in the past few days.
The clothes, head, skin, and background traits set this NFT apart as this DeGod has Mythic War Armour and a Mythic Helmet, which only 0.4% and 0.3%, respectively, of the NFTs in the DeGods collection have.
Crypto art shines
One major trend is a rush to own blue-chip crypto art pieces from platforms such as Art Blocks and SuperRare. Last week’s article highlighted several sales for generative crypto art, with the highest value sale last week for a piece from XCOPY called Don’t Panic selling for 500 ETH, or around $783,000.
The Art Blocks platform has revived interest from investors looking to hedge against inflation with valuable crypto art pieces. At writing, the average price of an NFT art piece on the platform has risen 63%, while the 24-hour trading volume has shot up over 30%.
This week we see more sales for pieces from the Art Blocks NFT Marketplace. Chromie Squiggle #1751 changed hands for 109 ETH, or around $171,000, while Fidenza #696 sold for 69.9 ETH, or approximately $109,000.
Axie Infinity land
Last week DappRadar reported on the sale of land plot -30,14 in the leading play-to-earn blockchain game Axie Infinity for nearly $234,000. This week we see the plot next door, -30, 13, has sold for 164.4 WETH, or almost $260,000. The wallet used in the transaction is not the same as the one used in the purchase of -30, 14.
Still, it’s possible somebody is playing monopoly in Axie Infinity or that this area of the game map is highly sought after and that last week’s sale pushed the value of the neighboring lands higher.
Check out the list of NFT Sales Highlights
N.B: Dollar values given are correct at the time of the sale
- Bored Ape Yacht Club #6588 – $1.19M / 769.9 ETH – Buyers wallet
- Axie Infinity Land Plot 30, -13 – $259.35k / 164.61 WETH – Buyers wallet
- DeGod #270 – $221.12k / 7.03k SOL – Buyers wallet
- Chromie Squiggle #1751– $173.04k / 109 ETH – Buyers wallet
- CloneX #18374 – $143.57k / 99 WETH – Buyers wallet
- Moonbird #6949 – $114.88k / 73 ETH – Buyers wallet
- Fidenza #696 – $111.48k / 70 WETH – Buyers wallet
- Proof Collective – $102.5k / 69 ETH – Buyers wallet
- Gazers #362 – $68.66k / 44.44 ETH – Buyers wallet
- The Sea of Ice – $52.81k / 35 ETH – Buyers wallet
While putting together the top ten NFT sales highlights list, we come across dubious and sometimes downright scam NFT projects that we must highlight to our community. DappRadar tracks on-chain data and pull NFT collections from the OpenSea Shared Storefront.
By looking at the trading history of an NFT, we can see the frequency and value of sales and the wallets making the transactions. When we see many transactions in a short space between a few wallets, it’s safe to assume wash trading is happening to inflate a collection’s average and floor price artificially.
Why? Because increasing these metrics will push the collection up the rankings on sites such as DappRadar and can trick people into thinking there’s a hot new NFT collection they should ape into.
Clicking the link on each one will take you to one NFT in the collection where the trading history looks highly suspicious and where you can investigate further for yourselves and start to understand what to look for when researching potential NFT investments.
Off the Blockchain LIVE!
Join the guys as they cover Vitalik Pumps NFTs and the infamous photo and talk about the new Digidaigaku NFT collection and the $200 million investment in Limit Break. They dive into the Ethereum Merge and potential troubles for dapps and end the show with some gaming updates for Spider Tanks, The Walking Dead, and Phantom Galaxies.
The above does not constitute investment advice. The information given here is purely for informational purposes only. Please exercise due diligence and do your research. The writer holds positions in various cryptocurrencies, including BTC, ETH, and RADAR.