Floor price doubled and trading activity increased 923%
Snoop Dogg is among the most active celebrity NFT collectors at the moment, and over the weekend he put his influence to work for the Avastars collection. Avastars saw its floor price briefly pump from 0.1 ETH to 0.25 ETH following a tweet from the superstar rapper. Additionally, users interacting with the collection skyrocketed 923% in the past week.
Avastars is the first fully on-chain breedable NFT collection on Ethereum, which launched in February 2020. Since then the NFT24 team has introduced multiple perks and functionalities to the project, including the Replicants subsequent collection.
Snoop Dogg’s public endorsement of the Avastars collection came on January 15th. The rapper replied to a tweet by Nickyads, saying he wants an Avastars NFT. This celebrity push led to increased activity for the collection over the past 48 hours.
Avastars push following Snoop Dogg endorsement
Snoop Dogg is probably the most recognizable name to join the Avastars rush in the past week. However, the collection had a stellar seven-day performance, even before the celebrity endorsement.
In the past seven days, Avastars attracted 399 unique active wallets, which is an increase of close to 1000% compared to the week before. Additionally, the number of transactions processed by the collection’s smart contracts increased 1090% to 512 transactions in seven days.
Of course, the most prominent spike in activity is seen around the time big names in the crypto space engaged in conversations about Avastars. Snoop Dogg’s involvement gave the collection even more momentum. Following this significant spike in trades, the average price for an Avastars NFT spiked to 0.35 ETH on January 16th.
Impressively, Avastars recorded several significant sales above 2 ETH each in the past couple of days. The most expensive Avastars NFT to switch owners in the past week sold for 10 ETH, or about $33.000.
For the moment, Snoop Dogg has not yet purchased an Avastars NFT. A closer look at his portfolio reveals that his latest purchases are of several 1989 Sisters NFTs. Still, even mentioning that he wants an Avastars NFT had a significantly positive effect on trading activity for the collection. Thanks to Avastars breeding system, users can create Replicants. Of course, somebody made an Avastar just like Snoop.
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