Check out the NFT sales highlights ranking between 20 and 26 March 2023
Blur token airdrop Season 2 has created quite a scene in the NFT space, driving a massive increase in trading volume on the platform. Despite having fewer users, Blur has once again outperformed OpenSea in terms of trading volume over the past week. In addition to the Blur hype, last week has seen other exciting news in the NFT space.
Blur’s surge in activity can largely be attributed to traders trying to accumulate points to maximize their airdrop rewards, a total of 300 million BLUR. However, this has led to users flipping and wash trading NFTs, and therefore a significant portion of the trading volume on Blur is likely inflated.
To participate in the event, traders must start listing and bidding on NFTs as early as possible. With Bid Points, Listing Points, and Loyalty Points counting towards the number of airdropped tokens, traders are using various strategies to maximize their profit. These tactics include bidding on high volume, low competition collections, maintaining perfect loyalty to Blur, etc.
Stories of “success” and “loss”
One notable participant in the airdrop is Jeff Huang, aka ‘Machi Big Brother’, a Taiwanese-American musician and prominent token whale. Despite realizing a staggering loss of approximately 4,600 ETH since the event began, Machi is actively trading to secure a substantial token reward.
At the time of writing, BLUR is trading at $0.5286, with a total of 300 million tokens to be airdropped. To cover his loss, Machi will need to be eligible for more than 5% of the total airdrop amount once it takes place. However, only time will tell if Machi’s trading strategy pays off.
Interestingly, this airdrop event has also revived some relatively quiet NFT collections, like CryptoPunks V1 (wrapped). Over the last 7 days, there was a 1,351% increase in trading volume, a 216.67% increase in traders, and a 1,084.75% increase in sales. Since all the transactions took place on Blur, this is likely due to traders using the collection to gain trading rewards.
While these numbers on Blur are impressive, it’s important to note that the Blur marketplace appears to cater more to experienced NFT traders than the general public. The platform’s trading volume is driven by fewer users with profit-driven motives rather than genuine consumption behavior.
As BLUR airdrop Season 2 continues to unfold, it remains to be seen what lasting effects it will have on the NFT market and its participants.
Other noteworthy trends in the NFT space
The Captainz NFT gains traction as 9Gag CEO stresses healthy communication with holders
The Captainz NFT collection, an integral part of the Memeland ecosystem, has recently seen a surge in both floor price and trading activity over the past 7 days.
The collection’s volume has increased by 62.52% to reach $3.81 million, while the number of traders has risen by 52.84% to 457. Additionally, there has been a 59% increase in sales. This uptick in interest suggests that users are becoming increasingly drawn to the project, even without significant news surrounding it.
One factor behind this growing enthusiasm could be the Memeland team’s more active communication with its holder community.
Meanwhile, during the recent Fomo Asia conference, Ray Chan, the CEO of 9Gag and Memeland, was asked about Doodles’ announcement that it was no longer considering itself an NFT project. Ray’s response highlighted the importance of maintaining open communication with a project’s community and being mindful of existing holders‘ feelings.
“When your roots are Web3, you have to cater the communication in a way that your existing holders would like it. […] I feel like it’s just the wording and how the team thinks about things and how they communicate with the holders. I think from time to time; we still have to be more down to earth and talk to things from the holder’s standpoint.”
y00ts is moving to Polygon
Holders of y00ts are preparing for the project’s upcoming migration to Polygon, resulting in relatively low trading activity recently.
The blue-chip NFT project originally on Solana announced on Twitter that the migration would start on 27 March. Moreover, users would receive a bonus for the first 24 hours. For the first 30 days after migration, gas fees for trading y00ts are entirely free, and covered by Magic Eden.
Additionally, every y00ts NFT listed on Magic Eden will receive 5 USDC as a reward.
Check out the list of NFT sales highlights
N.B. Dollar values given are correct at the time of sale.
Every week, DappRadar highlights not only the most expensive NFT sales but also the most interesting in the previous seven days. While huge numbers are sure to capture headlines, it’s also essential to highlight emerging trends and keep the DappRadar community ahead.
- XCOPY – And how does that make you feel? – $638,110 / 355 ETH – Owner’s Wallet
- Bored Ape Yacht Club #2062 – $561,460 / 318 ETH – Owner’s Wallet
- Otherdeed for Otherside #2118 – $375,820 / 208 ETH – Owner’s Wallet
- CryptoPunk #6036– $368,000 / 209.95 ETH – Owner’s Wallet
- RENGA #3295 – $177,650 / 100 ETH – Owner’s Wallet
- Fidenza #14 – $150,010 / 85 ETH – Owner’s Wallet
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