NFT Community Goes Big on PFP Avatars & Generative NFTs
In the past seven days, MoonCats and Hashmasks, both established NFT collections, have gone through a surge in the number of traders and in volume. MoonCats attracted 154% more traders, while Hashmasks saw a jump of more than 173%.
Both of these collections have been around for a while, and for some time, they were not present at the top of DappRadar rankings. However, as interest in profile picture avatars and generative art increases, MoonCats and Hashmasks are back on track, competing to enter the DappRadar Top 3 NFT Collections.
The huge interest in avatar-style collections like CryptoPunks and Bored Ape Yacht Club has spread throughout the whole NFT community. Hashmasks is currently benefiting from this craze as one of the more well-known NFT avatar collections. On the other hand, interest in generative art collections like Art Blocks and MoonCats is also rising. The former recently attracted record-high sales, while MoonCats is steadily rising through the charts.
A more detailed look at MoonCats and Hashmasks
MoonCats is a generative art collection. It is also one of the earliest NFT collections on the Ethereum blockchain. All NFTs in the collection feature images of generative cats, which are produced through procedural generation. This means that each image is generated once a smart contract request for it is launched. In other words, collectors do not know what cat they’ll receive and see it once the transaction is recorded on the blockchain and the procedural generation process is completed.
In the past seven days, MoonCats saw increases across all metrics DappRadar monitors. The number of active traders interacting with the collection rose to 681, while volume spiked 299% to more than $1.6 million. Interestingly, the number of sales surpasses the number of active traders, meaning some traders purchased or sold more than one of their MoonCats NFTs.
Hashmasks is a collection of 16,384 unique NFT digital portraits living on the Ethereum blockchain. This avatar collection rose to fame as more than 70 artists participated in the design and creation of the NFTs. Interestingly, Hashmasks introduces an additional level of scarcity to the collection. By giving the owner of a Hasmasks NFT the right to choose the artwork’s name, the collection becomes even more valuable. This happens through the dedicated NCT token.
In the past seven days, Hashmasks also saw increases across all metrics DappRadar monitors. The collection attracted 249 active traders. Additionally, the volume passing through the collection’s smart contracts jumped 319% to more than $776,110.
NFT collectibles are still a hot topic among the crypto community, and this is in no way surprising. As new collections surface almost daily, established names like MoonCats and Hashmasks sometimes struggle to keep up. However, as we can see, being one of the first in the space pays off as interest builds up over time. If you own a MoonCats or Hashmasks NFT and would like to check on it, try out DappRadar Portfolio. There your whole collection is easily accessible in just a couple of clicks.