06/08/2021 NFT Markets Post Record-Breaking Week

NFT Markets Post Record-Breaking Week Despite Talks of a Bursting Bubble

Has the NFT bubble burst? A new report reveals otherwise, which claims markets for non-fungible tokens (NFTs) climbed to record high trading volume and average prices in the past week. "The Hash" squad discusses the ever-sizzling NFT craze and where it's headed.

Markets for digital collectibles known as non-fungible tokens (NFT) have climbed to record highs in trading volume and average prices in the past week, particularly over the weekend. 

  • Trading volume of NFTs on Ethereum reached $171 million, up 338% from the equivalent week in the previous month, OKLink, an OK Group market intelligence subsidiary, told CoinDesk. 
  • OpenSea, an NFT marketplace, saw record-breaking trading volume in the past two days. Volume reached $35 million on July 31 and $49 million on Aug. 1 according to on-chain activity monitoring platform DappRadar. Excluding July 31, OpenSea had an average daily trading volume of $8.3 million in July, with a high of $14.4. million on July 17.
Daily trading volume and average prices of NFTs on Ethereum reached record highs over the weekend.  
(OKLink)
Source: OKLink
  • The volume of trading for CryptoPunks reached $78.4 million over the weekend, OKLink said. Today, the average price for CryptoPunks reached a record-high 66.919 ETH(+4.98%) ($175,520) on OpenSea.
  • Another collection, ArtBlocks Curated, also saw record average price of 8.1216 ETH ($20,990) on July 31, according to OpenSea data. 
  • Average prices for Bored Ape Yacht Club (BAYC) digital collectibles hit an all-time high on OpenSea on Sunday. The average price for one of the 10,000 Bored Ape collectibles was 11.2614 ETH ($29,200), according to platform data.
  • A July 30 article in the New Yorker was published just days before the BAYC community came together at a meetup in Venice Beach, California. The collective also held a simultaneous event on virtual world Decentraland.
Arts

https://www.coindesk.com/nft-markets-record-breaking-week

Interesting NFTs
Pine Seedlings on the First Rat Day (female diver pleasured by octopuses)
Katsushika Hokusai (1760-1849) Pine Seedlings on the First Rat Day (female diver pleasured by octopuses) 1814 - Japan
Alex in Wonderland
A figure, Alex, stands mostly naked in the midst of a physical and psychological maelstrom. He is clad only in nostalgic 80’s era socks, on a tenuous island between active waters and a variety of shark denizens. Sharks on the right side of the image are all beached, including a shark with a quartz crystal snout, an orange shark wrapped in a life buoy, and a shark further in the distance wearing an 80’s style shirt with the number “88”. On the left side is the largest shark, wearing bright glossy red lipstick and brandishing prominent teeth with braces. She is cordoned off from the figure by a roped float divider, and within her thought bubble is a warning symbol. Behind the figure, hovering in the air, are Grey aliens emerging from the distance, out of a series of elliptical UFO shaped interdimensional membranes. The Greys take on the visual form of spermazoa ostensibly impregnating the interdimensional thresholds. As is typical, these Greys inhabit a zone just behind the unconscious topology of Alex’s dissociative mind. Though Alex’s bottom half is representative, his top half mutates into a psychological cornucopia. In a manner akin to “Auto-Erotic Sphinx”, a predecessor work, the figure has self suctioned—an act of sensual infatuation, enjoyment, and exploration. Upward exists the figure’s primary conscious eye, adorned with a revolutionary beret emblazoned with a Bitcoin badge. The figure’s summit features the nose of a fighter jet facing off against video game Bullet Bills, one of whom is marked by a communist North Korean star. A cropped section of a UFO observes the contest. Alex’s mind branches both left and right. To the left is more singular embodied consciousness, manifesting two eyes and a Ganesh trunk grasping crayons. The right branch dissociates upward diagonally, emerging into an array of eyes, faces, teeth, tail, a unicorn horn, and much more—all of which participate in expressing his unconscious being; a democracy of psychic factions representing thought impressions and associations. All illumination and darkness– fernal, infernal, high consciousness and corporeal underbelly–reside in this realm. In the distance are relatively languid, light clouds, and against the firmament hovers a colossal distant eye peering over the scene and far beyond. This painting possesses underlying genetic traits with previous works such as “Auto-Erotic Sphinx with Toys”, “Dionysus”, and “Fuku-Shiva”. The work serves also as a nod to an earlier period of art inspiration during late teens and early twenties— born out of the nakedness, vulnerability, curiosity, and wonder inherent to coming of age and all subsequent psychedelic revelation.
The Switch
The Switch is a unique, “one of one” NFT that demonstrates the evolution of artwork in the digital realm. The Switch is developed to change form at a specific point of time in the future, known by Pak. The evolution is determined and rendered immutable by smart contracts, or self-executing code on the Ethereum blockchain.
Ocular Enhancement
"Future bio engineering will happen... it’s only a matter of time." Digital Art from Lestron 1/1, Single Edition TOOLS USED: Cinema 4D, Octane Render, After Effects ORIGINAL RESOLUTION: 1080x1350 FILE SIZE: 22,165,067 bytes
#62732
By OthersideDeployer