The NFT market continued its streak of high sales volume this week as well on OpenSea, an NFT marketplace for buying and selling NFT items.
Let’s look at the top 10 NFT projects –
Bored Ape Yacht Club (BAYC) is a limited collection of 10,000 unique Board Ape NFTs available on the Ethereum blockchain. And Mutant Ape Yacht Club (MAYC) is a collection of up to 20,000 Mutant Apes, similar to the original BAYC but with a mutant theme.
BAYC and MAYC topped the weekly sales volume leaderboard this week. Both projects witnessed an increase of more than 200% after the launch of the ApeCoin token.
The floor price of Bored Ape Yacht Club also climbed from 76 ETH to over 100 ETH on news of the ApeCoin claim. But after Thursday, it fell back to the 78 ETH range, before climbing back over 100 ETH again.
Holders who paired a Kennel Club NFT with a Bored Ape or Mutant Ape could also claim additional ApeCoins, which lead to a 493% increase in sales volume for the Bored Ape Kennel Club.
Bored Ape Chemistry Club, which includes serums airdropped to Bored Ape holders to turn into Mutant Apes, also saw a significant gain in its sales volume. It was primarily because all the serum holders needed to create their Mutant Apes to claim their ApeCoins.
CryptoPunks, a collection on the Ethereum blockchain, fell to the third spot on the list from the second place in the previous report.
CloneX, a collection from RTFKT, a digital sneaker company acquired by Nike Inc., jumped from eighth place to fifth this week. The increased liquidity in the NFT market from the sale of ApeCoins seemed to be the reason behind this massive increase in sales volume, as holders who sold their ApeCoins could now purchase other NFT projects that were earlier out of reach.
Azuki, a collection of 10,000 unique avatars built on the Ethereum blockchain, also benefited from the ApeCoin news and re-entered the top 10 list.
The play-to-earn NFT Crabada, based on the Avalanche blockchain, ranked 7th and continued to appear on the list.
Doodles, a collection of 10,000 NFTs made from various exciting visual traits designed by Burnt Toast, re-joined the top 10 list at ninth place and saw a 36% increase in sales volume this week. The NFT project was a big winner at the SXSW event and gained partnerships with Shopify Inc and Behr, a paint company owned by Masco Corp.
Out of the top 10 NFT projects, about eight of them were up week-over-week. And four of them were up by a triple-digit percentage, compared to the previous week.
The NFT projects outside of the top 10 that saw triple-digit increases from the previous week included CrypToadz at the 11th spot, Cool Cats at the 12th spot and World of Women at the 15th spot.
Among the losers were two of last week’s top 10 newcomers. Dour Darcels and CyberBrokers fell down the leaderboard from 6th to 16th and 3rd to 23rd spots. Dour Darcels saw a drop of 37% in its sales volume, whereas CyberBrokers witnessed a fall of a whopping 87% in sales volume.
Two other popular NFT projects, Sorare and Axie Infinity, dropped out of the top 10 and came in at the 18th and 20th positions.