31/12/2024 Ethereum NFT Trading Volume Reaches $186 Million, Boosted by Pudgy Penguins’ $PENGU Token Launch

Ethereum NFT Trading Volume Reaches $186 Million, Boosted by Pudgy Penguins’ $PENGU Token Launch
Ethereum NFT Trading Volume Reaches $186 Million, Boosted by Pudgy Penguins’ $PENGU Token Launch

Ethereum's NFT tradingvolumesurged to $186 million last week, marking a 67% increase from the previous week's $111 million. This jump in activity represents the highest volume in the last three months. The Pudgy Penguins collection played a key role in this surge following the launch of its $PENGU token. The Pudgy Penguins collection generated $108 million in trading volume, with individual penguins trading for as high as 29 ETH before experiencing a drop after the token launch.

The token launch extended beyond Pudgy Penguin asset holders to include various eligible wallets from both Ethereum and Solana ecosystems, broadening its market reach. The resulting excitement in the NFT space sparked increased activity in other major collections as well. Azuki saw $23 million in trading volume, and Doodles recorded $17 million in volume, showing a rising interest in tokenized NFTs. This shift highlights the growing trend toward NFT tokenization across the market.

While Ethereum saw significant growth, other blockchain networks such as Bitcoin still lag behind in terms of NFT activity. Bitcoin, the second-largest NFT ecosystem, recorded only $33 million in weekly volume, a fraction of Ethereum's activity. This underlines Ethereum's continued dominance in the NFT space, as it remains the preferred platform for high-value NFT trading.

The surge in Ethereum NFT trading also points to broader trends in the NFT space, where collections are increasingly considering tokenization strategies. The success of Pudgy Penguins’ $PENGU token launch has fueled speculation about whether other major collections will adopt similar approaches. The market is watching closely to see if other big names in the NFT world will follow suit, potentially further expanding Ethereum’s influence in the sector.

Ethereum’s NFT market has seen a dramatic rise in trading volume, driven by Pudgy Penguins’ $PENGU token launch and increased interest in other collections. Ethereum’s dominance remains unchallenged, but the growing trend of NFT tokenization could lead to more changes in the market as other collections explore similar strategies.

Arts

https://finance.yahoo.com/news/ethereum-nft-trading-volume-reaches-055441106.html?guccounter=1

Interesting NFTs
Classical Collage
voronoi fun with some well known art
The Self
Non-fungible token ERC-721 Token ID: 0 PNG 1536x2048 px Minted on May 27, 2021, ed. 1/1 Smart Contract Address: 0xcA71c095Ac06c5f17e03Da013c8041701Ef438b6
Who is Satoshi Nakamoto?
"Who is Satoshi Nakamoto?" is dedicated to the mysterious creation of Bitcoin, and acts as the showcase artwork within Javier Arrés’ exploratory series "Bitcoin, The Origin". "Who is the creator of Bitcoin?" The artist, Arrés, explores this question, and the feelings of doubt and mystery that accompany it, through his unique artistic language. An unknown, an enigma. It should be remembered that the name Satoshi Nakamoto is a pseudonym of Bitcoin's author or authors and gives us little insight into its true creator. For this Visual Toy, Arrés uses the signature claw machine, his famous half-operation, to symbolize our collective ignorance and unconfirmed belief: As soon as it has the stuffed animal within its grasp and appears to have solved the puzzle, the animal escapes again, and again. At present, there are three more public and studied possibilities who are either believed to be the creators of the currency or who directly claim the creation of it. It may be all or none of them, yet these three personalities leave us clues which are an important part of this interesting enigma. For this moment, it will remain unknown... In this artwork, Arrés elevates the claw machine from the apparatus, to an iconic pop art object serving as an important element to the Bitcoin creation narrative. Action is everywhere, with each movement serving an iconographical or metaphorical purpose related directly to cryptocurrency: Various ups and downs, roller coasters, mining points, robot, coins and more speak to a sense of hope, risk, mystery, randomness and possibility of pay out. Hundreds of manically thought out details make this creation one of the artist’s most complex Visual Toys to date. ------- "Bitcoin, The Origin" is a set of two Visual Toys, titled "Who is Satoshi Nakamoto" and "It’s Alive!" which reflect and explore the mystery and enigmas behind the creation of Bitcoin. Arrés presents these proposals to us in his signature style, full of iconography, fantasy, maniacal animations and a panoply of details (both subtle and overt) which simultaneously fascinate, hypnotize, and narrate this historical milestone through the singular vision of the artist. Through this series, Arrés freezes a crucial moment of cryptocurrency history, taking a still photo under his vision and turning it into two unique crypto artworks. ---- More info about Javier Arrés: https://javierarres.com/about.html
Block Chain Dungeon
Once upon a time... a little boy named Leo loved to paint, draw and experiment. He also loved to play with blocks and chains, which drew him again and again into the rooms of his friends Michel and Angelo. Often they also met in virtual rooms of Cryptovoxels, Decentraland, Somnium Space or Sandbox to create new inventions, read books about new technologies, or just swing the brushes. But on this day something gigantic happened. A good friend of Leo came to visit and brought his girlfriend Mona, who wanted a piece of Leo's art on her skin. This was the birth of the NFT's, as Leo developed Non Fungible Tattoos in the Block Chain Dungeon of Michel and Angelo. From that day on people from all over the world came to get NFT's from Leo or one of his students, like "Skeenee the rat", who controls the NFT machine with his laptop. A new age began.
CryptoPunk #6275
The CryptoPunks are 10,000 uniquely generated characters. No two are exactly alike, and each one of them can be officially owned by a single person on the Ethereum blockchain. Originally, they could be claimed for free by anybody with an Ethereum wallet, but all 10,000 were quickly claimed. Now they must be purchased from someone via the marketplace that's also embedded in the blockchain.