The non-fungible token market continues to heat up with strong sales volume on OpenSea, an NFT marketplace for buying and selling items.
A waitlist for the highly anticipated Coinbase Global Inc COIN NFT marketplace has more than 2.5 million people signed up, which could increase the valuation and demand for NFT projects.
Every week, Benzinga takes a look at the top 10 NFT projects by sales volume, and the following are from the past week, as reported by CryptoSlam.
- Bored Ape Yacht Club: $110.9 million, +224.3%
- Mutant Ape Yacht Club: $66.9 million, +220.6%
- CryptoPunks: $24.3 million, -16.7%
- Bored Ape Kennel Club: $20.8 million, +493.0%
- CloneX: $15.4 million, +47.7%
- Azuki: $13.0 million, +76.2%
- Crabada: $12.3 million, +14.3%
- Bored Ape Chemistry Club: $11.6 million, +855.2%
- Doodles: $10.1 million, +36.0%
- Meebits: $9.9 million, -63.7%
Related Link: How To Buy NFTs
What Happened: The weekly sales volume leaderboard was topped by Bored Ape Yacht Club and Mutant Ape Yacht Club. Both collections had more than 200% increases, which came on the heels of the launch of the ApeCoin APE/USD token.
Holders of both projects were able to claim ApeCoin on Thursday, which led to increased buying prior to the claim and also some selling after tokens were claimed.
The floor price of Bored Ape Yacht Club climbed from 76 Ethereum ETH/USD to more than 100 ETH on news of the ApeCoin claim. After Thursday's claim, the floor price fell back down to the 78 ETH range before climbing back up over 100 ETH once again.
Bored Ape Kennel Club saw a 493% increase in volume as holders who paired a Kennel Club NFT with a Bored Ape or Mutant Ape were able to claim additional ApeCoin.
Bored Ape Chemistry Club, which represents the serums that were airdropped to Bored Ape holders to turn into Mutant Apes saw a huge gain on the week. This came as holders of the serum needed to create their Mutant Ape to claim their ApeCoin.
CryptoPunks fell from second place in the previous report to third place and had a dip in sales volume. The move came after increased volume from previous news that Bored Ape Yacht Club parent company Yuga Labs had acquired the rights to CryptoPunks and Meebits.
CloneX jumped from eighth place to fifth and Azuki re-entered the top 10 list. Both projects could have benefitted from increased liquidity in the NFT market from the sale of ApeCoin. Holders who sold their ApeCoin may have purchased other NFT projects that were previously out of reach.
Crabada, which is a play-to-earn game on the Avalanche AVAX/USD blockchain, continued to appear in the top 10 list.
Doodles, which was a big winner at the SXSW event and gained partnerships with Shopify Inc SHOP and paint company Behr, which is owned by Masco Corp MAS, re-joined the top 10 at ninth place and a 36% increase in sales volume.
Overall, eight of the top 10 volume leaders were up week-over-week and four of the gainers were up a triple-digit percentage to the prior week.
Outside of the top 10, CrypToadz (11th), Cool Cats (12th) and World of Women (15th) saw triple-digit increases from the previous week.
Two of last week’s top 10 newcomers fell down the leaderboard with Dour Darcels going from sixth to 16th and dropping 37% in sales volume and CyberBrokers going from third to 23rd and dropping 83% in sales volume.
Sorare and Axie Infinity also dropped out of the top 10 and came in at 18th and 20th, respectively, in last week’s report.
Photo: Bored Ape Yacht Club
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