Crypto Art Steals the Show with 500 ETH NFT Purchase – Top 10 NFT Highlights

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Check out the NFT Sales Highlights ranking between August 21st and 28th

The digital artwork Don’t Panic by XCOPY has become the most valuable NFT sale in the last seven days when it changed owners through the SuperRare NFT Marketplace. Crypto art appears to be the talk of the town this week, with several high-value NFT sales occurring for pieces from the Fidenza and Chromie Squiggle collections.

Aside from the crypto art NFT purchase, the Mutant Ape Yacht Club NFT collection also received a boost in sales volume this week as collectors cashed in on the falling value of ether. Hundreds of Mutant Ape NFTs have changed hands in the last seven days, pushing the floor price up more than 15%. At the same time, the most expensive MAYC to sell in the last seven days was for 40 ETH, or about $58,000. 

However, the floor price is the most interesting, as that impacts public demand. The cheapest MAYC now costs 14.7 ETH, almost 14% more than a week ago. You can check out the floor price of the Mutant Ape Yacht Club collection here

MAYC

With lots of high-value NFT sales happening daily, DappRadar wants to bring you a list of fascinating sales that can indicate future trends or updates to an NFT collection. Moreover, the falling value of cryptocurrencies is essential as NFTs are priced in cryptos. When the dollar value of cryptocurrencies falls, so does the price of any NFT, which can stimulate sales for blue-chip and highly desirable NFTs at discounted prices. 

Ethereum’s native token ETH had been increasing in value over the last month as talk of the merge started to permeate into the retail sector of investors. However, the price began to drop considerably lately, losing more than 25% of its value in the last two weeks. Fundamentally, blue chip NFTs are now 25% cheaper than they were a few weeks ago. 

Check out the list of NFT Sales Highlights

N.B: Dollar values are given at the time of the sale

  1. Don’t Panic, XCOPY – $805,800 / 500 ETH – Buyers wallet 
  2. Pudgy Penguin #6873 – $630,780 / 400 ETH – Buyers wallet
  3. Fidenza #250 – $249,170 / 150.69 ETH – Buyers wallet 
  4. Axie Infinity Land Plot -30, 14 – $235,820 / 160.85 WETH – Buyers wallet 
  5. Chromie Squiggle #7046 – $234,780 / 150 WETH – Buyers wallet
  6. Fidenza #561 – $178,520 / 120 WETH – Buyers wallet 
  7. Azuki #4914 – $137,740 / 88 ETH – Buyers wallet 
  8. Chromie Squiggle #5987 – $62,580 / 40 ETH – Buyers wallet
  9. Mutant Ape Yacht Club #28631 – $67,140 / 40 ETH – Buyers wallet 
  10. Mutant Ape Yacht Club #5796 – $53,020 / 31.8 ETH – Buyers wallet

Crypto Art Surge 

The most expensive NFT to change hands in the previous week is a generative crypto art piece called Don’t Panic, created in 2019 by digital artist XCOPY, available on curated NFT art platform SuperRare. The NFT has been on quite a journey since being minted back in 2019 for 1 ETH. Initially changing hands two years ago for 12 ETH, and now for 500 ETH, or more than $725,000. 

In the case of this NFT, we can see that the buyer has an ENS domain called Yugen.eth and that after purchasing Don’t Panic, the new owner moved the NFT to another wallet which represents the holdings of the AOI Collection. The AOI collection is a select group of multi-dimensional artworks represented by non-fungible tokens. In that wallet, you’ll find a collection worth an estimated $1.12 million.

Crypto Art

Looking deeper inside the buyer’s wallet, we find a collection of NFTs worth more than $7 million, including several CryptoPunks, BAYC, and many crypto art pieces. Moreover, the trend of crypto art changing hands is seen more clearly through numerous high-value sales in the last seven days for works of digital art from the Chromie Squiggle and Fidenza collections hosted by the Art Blocks NFT marketplace.

Axie Infinity land plot 

Last week we highlighted the sale of an Axie from the leading play-to-earn game Axie Infinity called Handsome Bob for 84.16 WETH, or around $143,000. This week, the eighth highest value NFT sale is for a land plot in the Axie Infinity universe that sold for 160.85 WETH, or around $236,000. 

Lunacia, the Axie homeland, is divided into tokenized plots of land which act as homes and bases of operation for their Axies. Plots can be upgraded over time using various resources and crafting ingredients found when playing the game.

Scam alert! 

While putting together the top ten 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. The collections are sometimes automatically added and then removed retrospectively as we identify problems. 

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. 

Crypto Art

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. 

Sara joins Off The Blockchain to highlight the links between fashion, NFTs, and the metaverse 

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.

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