22/01/2024 Ethereum NFT sales heat up with boost from CryptoPunks, BAYC

  • Ethereum network recorded sales worth $19.8 million in the last 24 hours.
  • CryptoPunks, BAYC, and Pudgy Penguins lifted Ethereum to the top in recent days.

After a brief scare,Ethereum [ETH]has reclaimed its position as the top blockchain fornon-fungible token (NFT)trading activity.

According to AMBCrypto’s analysis ofCryptoSlam’sdata, the Ethereum network recorded sales worth $19.8 million in the last 24 hours, more than twice that of second-rankedSolana [SOL].

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Moreover, Ethereum was the top blockchain over the last week as well, with more than a $100 million in sales of NFTs.

Source: CryptoSlam

Ethereum reclaims numero uno rank

AMBCrypto noticed that the gap between Ethereum andBitcoin [BTC]started to widen again following the latter’sstupendous performancelate last year.

Driven by surge in demand for Ordinals, Bitcoin-based NFTs topped the charts in December, pushing traditional powerhouse Ethereum to the second rank on the list.

However, the new year turned out to be game changer for Ethereum, with marquee collections like CryptoPunks and Bored Ape Yacht Club (BAYC) rising to the occasion.

Blue-chip collections exert dominance

As per CryptoSlam, CryptoPunks was the top-selling NFT collection in the last 24 hours, recording over $4.7 million in sales.

In fact, the largest collection by market cap saw its floor price hitting a nine-month high of 59.95 ETH as of this writing, AMBCrypto spotted using NFT Price Floor data.

In the world of NFTs, floor price is considered as an important barometer of a collection’s popularity. Therefore, high floor price might signal that interest in that project is increasing.

Source: NFT Price Floor

The other prominent Yuga Labs-owned entity BAYC stood at the sixth position, with $1.19 million in trading volume.

BAYC also registered a 24-hour change of 1.84% in its floor price, seen at 24.849 ETH as of this writing.

Don’t ignore Pudgy Penguins

However, if one were to analyze the past week’s statistics,Pudgy PenguinsNFT collection seemed to have done the heavy-lifting.

The collection of unique 8,888 cartoon NFTs featuring adorable penguins recorded $9.1 million in cumulative sales in the last seven days, marking a 6x jump.

Arts

https://ambcrypto.com/blog/uniswap-prices-jump-11-over-this-major-upgrade-more-here/

Interesting NFTs
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The factory process behind the making of a verification badge. 10-second loop, 30 fps. Created using Cinema4D, X-Particles, TurbulenceFD, Redshift, and After Effects.
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Motion Version Part of my moon series. This super rare pearl moon has just washed ashore on a remote tropical island beach, fining one of these rare Jems is like a total worldly treasure! These moons, only fall to earth once in a few million years! When I found this one I felt the luck that is said to come with this pearl moon.
CryptoKitties
*waves*! My name's Kitty #418000. I once peed on Confucius's cat. They had it coming. It wasn't heavily publicized, but I once had a brief relationship with Snagglepuss. Maybe you and I can be partners in crime.
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The idea for this piece was borne out of a tweet of mine that caused a bit of a stir. I’d posted a link to a blog article I’d written a number of months previous titled ‘Who is the Creator’ discussing various types of creative collaborations and why I hire people to work on my animations. It generated a lot of debate around creation and attribution with the community split on whether it’s right or wrong for an artist to hire other professionals to help them realize their art projects. I decided to push the boundaries even further and see how the cryptoart community responded. What if I quite literally had nothing to do with the physical or digital elements of the work other than coming up with the concept and coordinating it? I decided there was one artist in the space who could add huge value to this idea on levels that none other could and so I gathered my courage and contacted the great José Delbo to ask him if he’d be interested in a very unique collaboration. I explained to him that to make this piece ‘work’ he couldn't have any say in what I produced and moreover, he wouldn’t even be allowed to see the animation until it was dropped on MakersPlace. To my surprise, Mr Delbo agreed to my proposal. The animation tells the story of the creative process, which includes my roles as writer, director, and producer working with a team and making edits and changes ‘in real time’. The dialogue between myself and my ‘hired guns’ plays out in front of the viewer. The music written for the piece adds to the nostalgia of the comic book superhero theme but other elements such as the snapping and kicking of the pencil and the signing of my signature at the bottom incorporates further layers and challenges the viewer to ask important questions, such as, is the ‘Art’ the final animation (the creation) or is the ‘Art’ the concept/credit for the creation itself?