In a down week for the NFT market, the Flow, Wax, and Palm blockchains came in strongest with transaction volume increases of 24%, 29% and 128%, respectively. Each chain is dominated by recognizable IRL brands such as NBA TopShot, NFL ALL DAY, and Funko.
Yesterday, Rarible saw over $139K in average volume per active address, the highest rate since April 2022, while X2Y2 reached $142K. Unsurprisingly, 82% of the total 24H NFT sales happened on OpenSea, with 58% of the total ETH volume. Coinbase NFT generated 0.18% of sales and 0.01% of ETH volume.
VALHALLA is the leading collection, currently with over 2,850 ETH (~$3.3M) in volume, 23.39% of the NFT market volume in the last 24 hours. Its recent gains align with the rise, fall, and resurgence of Gamefi, as detailed in this report by XYZ2E. This year, web3 gaming projects have already received more than 9% of total investment in the crypto industry and look set to break new grounds.
Cardano NFT collection Clay Nation got increased attention after the release of a music video dedicated to it by Champ Medici featuring his father, Snoop Dogg and Cardano founder Charles Hoskinson. Since the video release, its trading volume has exceeded 100,000 ADA, adding to an all-time trading volume of over 30 million ADA!