The Sandbox and XCOPY on top of the charts
Two large estates in The Sandbox sold for more than $560,000 over the past week, while the biggest NFT sale in the past 7 days has been an artwork by XCOPY. According to on-chain data gathered by DappRadar, there’s also lots of demand for on-chain generated artworks like, for example, Autoglyphs and NFTs from the Art Blocks platform.
Over the past few weeks, we’ve seen artworks by XCOPY appear in the Top 10 NFT Sales multiple times. An artwork called ‘Hello admin pm me’ sold for $378,400. In addition, two artworks in the Art Blocks series ‘The Eternal Pump’ made it into the Top 10 NFT Sales by DappRadar. Furthermore, artworks in the Autoglyphs series sold for $220,000 and $233,000 each.
There’s strong demand for on-chain generated art, emphasized by the Autoglyphs and Art Blocks sales. As a matter of fact, Art Blocks bumped up the NFT Collection charts. With an increase of 7%, the NFT collection accumulated $10,4 million in trading volume over the past 7 days. Art Blocks only got outperformed by the stunning $151,9 million from Axie Infinity.
- XCOPY – Hello admin pm me – $378,400 / 175 ETH – Buyer’s wallet
- CryptoPunks, #5690 – $354,410 / 195 ETH – Buyer’s wallet
- The Sandbox 12×12 – $288,940 / 380,000 SAND – Buyer’s wallet
- The Sandbox 12×12 – $279,530 / 500,000 SAND – Buyer’s wallet
- CryptoPunks, #9400 – $277,590 / 120 ETH – Buyer’s wallet
- Art Blocks, The Eternal Pump #23 – $269,760 / 120 ETH – Buyer’s wallet
- Axie Infinity, #3018 – $239,980 / 112,18 WETH
- Autoglyphs, #361 – $233,850 / 120 ETH – Buyer’s wallet
- Art Blocks, The Eternal Pump #1 – $226,350 / 100,69 ETH – Buyer’s wallet
- Autoglyphs, #378 – $220,910 / 103,3 ETH – Buyer’s wallet
On-chain art explained
Roughly there are two types of NFT artworks: regular ones, and on-chain generated ones. These on-chain generated artworks use blockchain data to render a unique version of an artwork. For example, the blockchain hash or transaction, influences the shapes and colors of an artwork. These types of NFT artworks are increasingly popular, mostly because they underline the essence of blockchain.
Through Art Blocks these NFTs exist completely on-chain. A piece of software on the blockchain combined with the buyer’s transaction data, generates a unique artwork. Because the software and the data is always available on the blockchain, these artworks can always exist as long as the blockchain is working.
Artworks created through Art Blocks have become increasingly popular. Over the past 7 days, the NFT collection has been responsible for $10,44 million in trading volume. These on-chain artworks performed better than for example CryptoPunks and Bored Ape Yacht Club.