The collection went up 56,000% in trading volume
Plasma Bears, a discontinued game on the Loom sidechain, has seen its NFT collection fly to the moon in the past 24 hours. The platform, which was created by Blockade Games in 2017 and has since closed down shop, currently has only a little more than 1,500 NFTs on the Ethereum mainnet. These are now trending, following a revival wave of interest for older NFT collections such as MoonCats.
In the past 24 hours, Plasma Bears NFTs attracted 427 traders, which is an increase of 3781%. Most importantly, the collection saw its volume spike 56,630%, reaching a total of $4.633 million.
This significant uptick in interest pushed Plasma Bears to the seventh position in DappRadar NFT collections rankings for the past day. According to DappRadar data, an average transaction for a bear NFT was worth around $8,377. Currently, the floor price for a Plasma Bear NFT sits at 1.8 ETH or about $5,592 at the time of writing. This means that the bears are not only trending but pushing the floor price up.
However, the cheapest NFTs are incomplete bears, like heads or paws. A complete Plasma Bear NFT will cost at least 3,75 ETH or more than $11,000.
What are Plasma Bears?
Plasma Bears was a collectible crafting game. It challenged players to collect rare bear parts and create unique NFTs with them. Each NFT was a combination of several different bear body parts. Of course, each part contributes to the rarity and uniqueness of the design.
One of the major influences that push interest towards the NFT collection at the moment is the fact that the game no longer operates. This means that only the NFTs that were created while the game was open to the public remain on the secondary market today. Had Plasma Bears continued to output new NFTs, scarcity wouldn’t have been such a big factor.
As mentioned earlier, currently, there are only about 1,500 Plasma Bears NFTs on the secondary market, making it one of the scarcest NFT collections out there. Considering this, it is no surprise that interest in the bears has been revived. Especially following a more global wave of looking back at the very first NFT projects that ever launched.
Interestingly, the hype does not cover only completed bears. As the game abruptly ceased to exist, a lot of body parts NFTs were left unused. Now, these too are selling on the secondary market and attracting further attention to the collection.
The company behind Plasma Bears, Blockade Games, has since concentrated its efforts on Neon District, a cyberpunk RPG blockchain-based game. The game now operates on Polygon, but still has NFTs on the Ethereum blockchain as well. Both chains have seen an increase in activity in the past thirty days. Now that Plasma Bears are trending, more people might flock to other Blockade Games projects, including Neon District.
DappRadar will continue monitoring Plasma Bears on their route to resurrection, so stay tuned. If you own a bear NFT and want to see how it fares in your collection, check out DappRadar Portfolio.