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.
- 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.
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Katsushika Hokusai (1760-1849)
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Cypher::Prophet
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Almost every year, we capture ourselves in a way that no photo or video is capable of: with a photoscan. If you dig through our archives, you'll find many of them and can see exactly how we change over time.
Sam Gorski, Creator | I wanted to find the oldest scan of myself and put him side-by-side with Sam from the present. While it is hard to look at it and not miss the years past, at the same time, this gives me hope for the future by embracing and cherishing the change in my life. How would I have gotten this far without him?
About This Piece | Sam on the left was captured in 2014, while Sam on the right was captured last week (2021). This work represents the personal, creative, and emotional journey in all of us, and the hope that ourselves tomorrow may be better than ourselves today.
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https://javierarres.com