One NFT sold for $2 million and the proceeds went to charity
In the past week, the sale of Meebit #10761 stood out, as it was the highest-selling NFT of the week. However, on the art marketplace Foundation, a whopping $2 million was collected for charity, benefiting the TOR Project and their battle for online privacy. Furthermore, crypto artist XCOPY saw some of his older works sell for hundreds of thousands of dollars.
Without a doubt, NFT sales aren’t the biggest story from the last week, as prices of most currencies dropped 10 to even 25 percent in value. Nonetheless, the acquisition of NFT continued, as collectors showed willingness to spend millions on digital collectibles and NFT art. We’re diving deeper into three of the biggest NFT purchases.
Meebits, PleasrDAO, and XCOPY
Larva Labs latest projects, Meebits, once again stole the spotlight. Two sales made it into the DappRadar Top 10 NFT Sales, while Meebit #10761 stood out with its $2,69 million price tag. The buyer’s wallet is pretty empty, containing one artwork and a CryptoPunk. However, after the acquisition, the buyer moved the Meebit to a new wallet. This second wallet contains 37 Meebits and more than $16 million in DeFi assets. This wallet is quite impressive.
The second most expensive NFT from last week has been an artwork called Dreaming at Dusk. Proceeds from the sale, which took place on the NFT marketplace Foundation, go to privacy organization TOR Project. PleasrDAO paid more than $2 million for the artwork, while they also acquired other charity artworks earlier this year, including one by Pplpleasr and another one by Edward Snowden.
Even though the artworks by XCOPY aren’t the most valuable ones of this week by a stretch, their presence is very eye-catching. The anonymous artist XCOPY is one of the first to distribute digital art on SuperRare, giving him lots of credibility within the digital art community. As collectors are looking for valuable artworks, an “O.G.” like XCOPY stands out. One collector even purchased two XCOPY artworks on the secondary market, spending a whopping $800,000. This collector also owns 31 punks in their wallet.
Check out the three wallets
Top 10 NFT Sales – May 10-16, 2021
- Meebits, #10761 – $2,69 million / 700 WETH – buyer’s wallet
- Dreaming at Dusk – $2,05 million / 500 ETH – buyer’s wallet
- Meebits, #19729 – $1,01 million / 245 ETH – buyer’s wallet
- Autoglyphs, #413 – $493,440 / 120 ETH – buyer’s wallet
- Dissolution by XCOPY – $414,860 / 100 ETH – buyer’s wallet*
- Feeding by XCOPY – $414,310 / 110 ETH – buyer’s wallet
- $LAVE by XCOPY – $390,380 / 99,99 ETH – buyer’s wallet*
- CryptoPunks, #1878 – $378,830 / 88 ETH – buyer’s wallet
- CryptoPunks, #8686 – $357,110 / 88 ETH – buyer’s wallet
- Skin, Bone & Blood by XCOPY – $348,070 / 90 ETH – buyer’s wallet
Gas fees hurt NFT sales on Ethereum
In the past 7 days, most NFT marketplaces on Ethereum have seen their trading activity drop a tremendous 45% or more. OpenSea, CryptoPunks, Rarible, Foundation, and SuperRare all experienced significant drops. Not only might we see a decline of interest in NFTs, in addition, the Ethereum blockchain was hampered by ridiculous gas fees. Even sending the simplest transaction would cost $200.
At the moment of writing these transaction prices have dropped again to a more acceptable $15 per transaction. However, NFT trading activity over the past week clearly indicates that gas fees are a problem for NFT traders on the Ethereum blockchain.
In the Top 10 marketplaces over the past 7 days, only three marketplaces increased their trading activity week-over-week: Axie Infinity, Atomic Market, and BakerySwap. None of these functions on Ethereum. Axie Infinity recently moved its entire economy to its own Ronin sidechain, while Atomic Market exists on the Wax blockchain. Furthermore, BakerySwap is a DeFi product Binance Smart Chain, which offers the sales of financial token packages in an NFT.