NFT Highlights – Proof-of-Skate Sends Azuki NFT Trading Through the Roof

Azuki NFT
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Check out the NFT Sales Highlights ranking between October 9th and 16th, 2022

An announcement through the official Twitter channel of Azuki on October 14th appears to have pumped trading activity of the Japanese art-inspired NFT collection. The team announced Proof-of-Skate, a real-world installation in Hong Kong, from October 19 to the 23rd. 

The Tweet includes a video showing the reveal of a skateboard with more than 80,000 views. Notably, the video features a butterfly flying and seemingly activating the skateboard reveal. A Butterfly trait is a metadata tag just 86 of the 10,000 Azuki NFTs carry. 

The thread says ‘more details soon,’ but nothing has been revealed, with the event starting in a few days. The announcement appears to have caused a spike in trading activity for the Azuki collection as traders and admirers began to speculate on an airdrop and any potential tie-ins with Azuki’s Butterfly metadata. 

The number of traders’ leaped over 65%, which caused trading volume to increase by more than 130% week over week, generating $3.3 million. Such buoyant trading pushed the average sale price more than 13%, past $20,000. Azuki is now the third most traded NFT collection in the previous week. 

Source: DappRadar

Diving into specific NFT sales over the last seven days, we can see in writing the most expensive to change hands was Azuki #5558 for 200 ETH, or around $250,000. However, this NFT has Firefly metadata, not Butterfly. I watched the video a few times, and I’m convinced it’s a butterfly, not a firefly. 

However, the second-highest sale in the previous week does have Butterfly metadata. Azuki #3946 sold for 130 ETH, or around $160,000. Looking through the top ten Azuki NFT sales over the last seven days, we see three with Butterfly metadata and two with Firefly metadata changing hands. 

Looking outside the top ten reveals many Azuki sales over this past week with Butterfly and Firefly metadata. Using DappRadar, we can see the lowest value Azuki with Butterfly metadata is Azuki #7536, which is on sale for 15.7 ETH, or about $20,000. 

Source: DappRadar

Aside from the cryptic tweet and skateboard reveal, there is still no more information about the event in Hong Kong, whether it will showcase physical or digital items, and if holders of Azuki NFTs will be getting anything as a reward their loyalty. 

We know that, like last week’s Clone X rush, which seemed to occur off the back of a tweet and equally cryptic trailer, the web3 community is hungry. This bear market ONLY heightened their desire to see tangible progression and delivery by the brands they invested in. 

Another reason for more buoyant sales would be Azuki holders using a moment of hype to move on NFTs they perhaps secured at the mint stage for around 2 ETH and collecting a tidy profit in a bear market. 

If you’re holding an Azuki NFT, you can get a price estimate quickly by entering the ID into the DappRadar NFT Price Estimator.

Check out the list of NFT Sales Highlights

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

  1. Autoglyphs #458 – $315k / 235 ETH – Buyers wallet 
  2. Azuki #5558 – $257k / 200 ETH – Buyers wallet
  3. Azuki #3946 – $166k / 130 ETH – Buyers wallet 
  4. Fidenza #324 – $141k / 105 ETH – Buyers wallet 
  5. Noun #171 – $74k / 58 WETH – Buyers wallet 
  6. Ringer #764 – $69k / 55 WETH – Buyers wallet
  7. DEAFBEEF Series 4: Glitchbox – Token 206 – $61.k / 48 ETH – Buyers wallet 
  8. Clone X #13128 – $45k / 35 ETH – Buyers wallet 
  9. Murakami Flower #8453 – $45k / 35 WETH – Buyers wallet
  10. Azuki #4409 – $34k / 27 ETH – Buyers wallet 

NFT collections by the big numbers

One concerning trend observed this past week had been an increase in trading of two blue chip NFTs. Bored Ape Yacht Club and its sister collection of Mutant Apes both saw more than a 10% drop in their average price, while at the same time, the number of traders and sales increased by an average of 55%. 

This indicates that NFT holders were letting their NFTs sell at a lower value than previously, as some fear about macroeconomic circumstances and global currencies began to take hold. Arguably, this shows that holders of BAYC NFTs are far more than teenage degens and have an intimate understanding of fiscal and monetary policies that may affect the NFT space now and in the future. 

Source: DappRadar

Art Blocks had a bumper week last week with the release of a new Fontana collection, which pushed sales up by more than 70%. As expected, this week´s trading volume is down by 20%, but what’s most interesting is that the average price of a piece of generative crypto art on the Art Blocks marketplace is up more than 9%. As awareness grows, more people gravitate toward a different medium for NFTs and digital art. 

NFT sales by the big numbers 

The highest value NFT sale in the past seven days was for CryptoPunk #8958 for 333 ETH, or around $425,000. The second place belongs to Autoglyphs #458, which sold for 235 ETH, or about $315,000, netting the seller a tidy profit of 234 ETH as they purchased it three years ago for 1 ETH. Arguably, a piece of crypto art in second place explains the trends mentioned on Art Blocks and that investors are starting to pay attention to NFTs outside avatar collections and metaverse land. 

The third highest sale belongs to Azuki #5558, which changed hands for 200 ETH, or about $255,000. The most exciting thing about this weeks top three is that if you were to go back and look at weekly NFT highlights articles, the top three sales are almost always CryptoPunks or Bored Ape Yacht Club NFTs. Seeing other collections here could indicate a change of direction for NFT admirers. 

Source: DappRadar

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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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