Most Popular NFTs: Week of October 19

In early October 2022, market analytics platform Cryptounfolded released data showing that third quarter sales of non-fungible tokens (NFT) on OpenSea, the largest marketplace for digital collectibles, fell 60% from the second quarter.

Despite the continued weakness of the crypto bear market, investors can still find opportunities in NFTs. The following is a highlight of some of the movers in the NFT world over the past seven days.

YuGiYn

YuGiYn is a collection of 8,888 characters that takes the popular Japanese manga and anime art phenomena and applies them to NFTs and the metaverse. There are four districts in YuGiYn’s virtual world and players can move between them and interact.

With $1.68 million in sales volume and a floor price of 0.2 ETH ($260), YuGiYn was one of the top 10 weekly sales this past week. (By October 19, 2022, it had dropped a few notches in that ranking.) The reason behind the increase is that the project has recently created or published a unique digital resource on a blockchain so that it can be bought, sold and traded. The idea was to build a “digital economic zone through Tokyo Culture” allowing users worldwide to explore an urban Japanese theme.

CryptoNinja Partners

CryptoNinja Partners (CNP) is a collection of 22,222 pieces of ninja-themed cartoon animals. The base collection of 20,000 tokens consists of four different characters: pandas, snakes, ghosts and hawks, each with unique characteristics. It has only been five months since the project started; nevertheless, the average price of a CNP NFT has risen to a price of $1,850 from $400. It is a project of NinjaDAO, one of the largest NFT communities in Japan with more than 40,000 participants. The popularity of the project perhaps stems from the upcoming marketplace, a CNP Friends smartphone app in beta testing and collaboration with various regional governments in Japan.

OpenSea is the official sales portal for CryptoNinja and it has a current floor price of around 1.40 ETH ($1,850). The NFT collection increased by 129% in the last week in sales volume.

DeGods

DeGods, a collection of 10,000 Solana-based NFTs, gained popularity earlier this year when they bought a basketball team in actor Ice Cube’s BIG3 league for $625,000. It is now riding high on the weekly NFT sales charts and is poised to enter the top 10 collections.

It has become the latest collection to switch to a royalty-free strategy. This approach aims to protect the collection from future legal action. The owner of NFTs usually determines the royalties during minting. Every time an NFT creation is sold on a marketplace, the original owner receives a percentage of the sale price. NFT royalty rates typically range from 5 to 10%. DeGods has decided to remove the royalty, citing the move as the right thing to do for the business. Popular Ethereum NFT collection CryptoPunks also has a 0% royalty structure.

DeGods has raised $1.3 million in sales in the past week on the Solana blockchain with a high floor price of 500 Solana ($15,000).

The Art Pass by Iconic Moments

Iconic Moments has brought The Art Pass to the world of NFTs, and this will give holders VIP access to limited, rare and never-before-seen digital art. The project works with 300 iconic museums and cultural brands to put historical events, pop culture and art on the blockchain for
first time. The collection wants to provide membership and access to an art community in the real world with access to airdrops, tickets to cultural events and other collaborations.

More than $440,000 in sales volume and a floor price of 0.5 ETH ($650) are promising statistics for Art Pass’ first week of sales.

Investing in cryptocurrencies and other Initial Coin Offerings (ICOs) is highly risky and speculative, and this article is not a recommendation by Investopedia or the author to invest in cryptocurrencies or other ICOs. Because everyone’s situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein. As of the date this article was written, the author does not own the cryptocurrencies or NFTs mentioned above.