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ART & COLLECTABLES

After another $3 Billion Month from OpenSea, the Ethereum NFT Market Soars in the First Days of 2022

The biggest winners are the Bored Ape Yacht Club and XCOPY, as OpenSea records its highest trade volume in months.

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#nft #nfthours #opensea #ethereum

The NFT memorabilia and artwork market shows no signs of slowing down in 2022 after a year of extraordinary growth. Following the platform’s second-largest month to date in December, Ethereum NFT trade volume on top marketplace OpenSea is booming in the early days of the year.

According to public blockchain statistics gathered by Dune Analytics, on January 2, OpenSea reported more than $243 million in Ethereum trade activity. This represents a significant increase from nearly $170 million on January 1 to $124 million on December 31, 2021.

Sunday’s total is the third-best day of trade on OpenSea in terms of money, trailing only the all-time high of over $323 million established on August 29, 2021, and $267.5 million the day after that. In other words, yesterday was OpenSea’s most significant day in over four months, following an August surge followed by a slow decline in NFT trade volume throughout the fall.

However, it continues a recent trend, with OpenSea reporting more than $3 billion in Ethereum trading volume in December. The roughly $3.25 billion volume for the month is second only to the $3.4 billion set in August. It’s also an almost 37% rise over the $2.37 billion in Ethereum trading volume on the platform in November.

Surprisingly, the volume of OpenSea’s NFT trading on Polygon is increasing. Polygon is an Ethereum sidechain scaling solution that allows for reduced fees and faster transactions, and in December, OpenSea saw a record $76.1 million in Polygon NFT trading. According to statistics from Dune Analytics, OpenSea has been growing for three months in a row on that metric.

An NFT is a blockchain-backed token that acts as a digital item’s deed of ownership. Profile photographs, digital artwork, video snippets, and interactive video game elements are all examples of representation. According to research from venture capital firm 1confirmation, Ethereum is presently the most popular platform for NFT artwork and collectibles, accounting for more than 90% of the industry (including sidechains and layer-2s).

As of mid-December, blockchain analytics tool DappRadar projected that total NFT trading volume in 2021 was $22 billion, up from around $100 million the previous year. However, the final figures for 2021 have not yet been announced.

Apes on top

One of the most recent benefactors of the NFT boom has been the Bored Ape Yacht Club profile photo initiative. According to CryptoSlam data, the Mutant Ape Yacht Club collection has generated $89 million in trade volume in the last seven days. The original Bored Ape collection added more than $83 million.

Jimmy Fallon and Stephen Curry are among the celebrities who have purchased Yuga Labs’ initial collection of 10,000 NFT avatars and the Mutant Ape Yacht Club collection. In addition, Rappers Eminem and Snoop Dogg have recently joined the club, even though Snoop was previously an enthusiastic NFT collector.

The original Bored Ape Yacht Club collection, released in April, is the most valuable, with a current price floor—or least available NFT—of 73.5 ETH (about $276,000) on the secondary market. It has even outperformed the influential CryptoPunks project, which currently has a price floor of 67.7 ETH (almost $255,000).

The last Mutant Ape Yacht Club project, on the other hand, has seen more recent rises in value, with a current price floor of 15 ETH (about $56,500) reflecting a 119 percent increase in the last 14 days. Over the same period, the Bored Ape Yacht Club floor has increased by nearly 44%.

On Saturday, a single Mega Mutant Serum NFT—burned (or destroyed) to make a Mutant Ape NFT from a Bored Ape—sold for 1,542 ETH ($5.66 million). Other Mega Mutant Serums sold for 999 ETH ($3.8 million) and 888 ETH ($3.6 million) last week, indicating that demand for the Mutant Ape NFTs has risen dramatically.

However, it’s not just apes that are on the move. Yesterday, on the SuperRare marketplace, a piece of Ethereum digital artwork titled “All-Time High in the City” by the artist XCOPY sold for 1,630 ETH, or about $6.2 million. In addition, Snoop Dogg bought a separate XCOPY piece for 1,600 ETH (nearly $7 million at the time) via his NFT-collecting Cozomo de’ Medici pseudonym last month.

A Gala Games 3D dragon avatar sold for 10.85 million GALA, or more than $5 million at the time of purchase, earlier this week. Meanwhile, a single MekaVerse NFT sold for 500 ETH (nearly $1.8 million), the highest transaction for the robot-themed profile image project since it launched in October amid controversy.

Axie Infinity, the most popular Ethereum game, has recently noticed a dip in trade volume. According to data from CryptoSlam, the monster-fighting game produced more than $301 million in trade volume in December, making it the most popular project at the time. However, it was a 60 percent decrease from the previous month’s $754 million.

ART & COLLECTABLES

GIVENCHY PARFUMS, AMAR STUDIO, REWIND COLLECTIVE & VEVE REUNITE FOR THE CREATION OF AN NFT IN SUPPORT OF THE LGBTQIA+ CAUSE FOR PRIDE 2022

Fashion House, Artists and NFT Platform Team Up Once Again for Pride Month

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PARIS, June 23, 2022 – To mark Pride Month this year, Givenchy Parfums states its support for the LGBTQIA+ cause by reuniting with LGBTQIA activist Amar Singh, artists Rewind Collective & NFT platform VeVe, the largest mobile-first digital collectibles platform, for the release of a new digital collectible to be sold for charity releasing on Wednesday, June 29 at 12 p.m. PT. The release of the digital artwork, Pride II by Rewind Collective, will be sold for the benefit of the Le MAG Jeunes association, on VeVe’s digital collectible platform, available to download on the App Store and Google Play.

Drawing inspiration from the House’s Prisme Libre, combining four shades of colors, as well as the Rewind Collective’s Pixelated Heroes series, this original virtual artwork is being sold on VeVe in a limited series of 1952 editions. After the sale, the proceeds will be entirely donated to the Le MAG Jeunes association.

Titled “Pride II”, the artwork created by Rewind Collective for Givenchy Parfums is a series of animated portraits symbolizing diversity, the assertion of identity, and the fight for equal rights. Innovative photos, which the collective reinterpreted digitally in the colors of the Rainbow Flag, expres Givenchy’s commitment to a more diverse, more inclusive, more universal kind of beauty.

Through this initiative, Givenchy Parfums, Amar Studio & VeVe are proud to support Le MAG Jeunes (Movement for the Assertion of Young Gay, Lesbian, Bi & Trans people), a French association founded in Paris in 1985. Amar Singh continues to lead India’s national effort at the supreme court to abolish LGBT+ conversion therapy.  Aimed at the LGBTQIA+ young population (15 to 30), Le MAG Jeunes focuses on support and accompanying: it carries out awareness-raising missions in schools, offers cultural and educational activities, and provides psychological support to all those who need it. It also lobbies international institutions, so as to promote the implementation of more inclusive public policies, for today and tomorrow.

“Art remains one of the most powerful forms of self-expression, we’re honored to further the LGBTQIA+ cause so that everyone can present their authentic self,” said David Yu, Co-Founder of VeVe. “We are proud to support the LGBTQIA+ community and help fund the fight against LGBT phobias and sexism through the sales of this unique digital collectible.”

Last year the companies came together to sell the digital artwork, “Pride”, as a sign of support for the LGBTQIA+ cause and MAG. The $128,000 raised led to the organization:

  • Moving to a bigger space in Paris and opening of two new local centers for LGBT+ youth inclusion, to overcome isolation and that offers support and multiple activities. The Paris local group is now in the heart of the capital Quincampoix Street, Paris 4th, with a great space to welcome LGBT+ youth. And the two new branches are in Lyon and Clermont Ferrand. 
  • An increase of LGBT+ youth supported by the organization to 529. The foundation aims to support 1,600 youths thanks to the new spaces and new members of staff. 
  • Building and recruitment a team of professionals to accompany youth and fight LGBT phobias and sexism.
  • An increase of interventions in school from 3,000 students in 2021 to 11,360 in 2022, to prevent LGBT phobia and sexism in the education sector.

About VeVe:
Founded in 2018, VeVe was created by collectors, for collectors to bring premium licensed NFT digital collectibles to the mass market. With millions of active users and over 6      million NFTs sold, VeVe is the largest mobile-first digital collectibles platform and one of the top-grossing Entertainment Apps in the Google Play and Apple stores.

Utilizing both blockchain and augmented reality technologies, VeVe offers premium licensed collectibles from leading brands including DC Comics and Warner Bros, Cartoon Network, tokidoki, Ghostbusters, Back to the Future, and more. For the first time, these brands can provide customization to collectibles after their initial sale, creating endless revenue possibilities for products both new and previously offered. In addition, VeVe’s 3D augmented reality photo mode allows collectors to interact with every digital collectible, as well as share their collectibles through VeVe’s in-app social feed, or on external social platforms including Twitter, Instagram, TikTok, and more.

In March 2021, VeVe committed to 100% carbon neutral NFTs and provided $7+ million in grants to environmental nonprofits to raise money for causes through NFT promotions. In addition, VeVe uses Ethereum’s layer 2 scaling protocol, Immutable X, which provides instant trade confirmation, scalability (over 9,000 trades per second), zero gas fees, and a 99.9% reduction in environmental footprint.

The VeVe Digital Collectible app is available on both iOS and Android.

Learn more: VeVe.me | Twitter | Discord | Facebook | Instagram | Medium

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ART & COLLECTABLES

Salvatore Ferragamo, an Italian luxury brand, has an NFT booth in SoHo

Customers can create and mint their own Ethereum-backed non-fungible tokens (NFTs) on OpenSea at a booth set up by Salvatore Ferragamo, an upscale clothing company with its headquarters in Florence, New York.

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The Salvatore Ferragamo concept store in the city’s SoHo neighborhood opened its doors on Friday, and the booth is a part of a bigger debut of the business. All visitors are eligible to receive free NFTs, which are limited to 256 in total. The brand will pay all associated costs up front to mint an NFT.

For the launch, the company is collaborating with artist Shxpir, who has previously created holographic handbags for businesses like Coach. Shxpir has produced 3D digital graphic elements for the NFTs for Salvatore Ferragamo.

Just one day after NFT, there will be a launch.

After a week of discussions about how fashion businesses may tap into the Web3 and NFT arena, NYC, a conference about non-fungible tokens in Times Square, comes to an end. Famous companies have lately debuted their own NFT collections, including Gucci, Prada, Bulgari, and many others.

Salvatore Ferragamo has previously entered the online space.

The company collaborated with Obsess, a virtual and augmented reality software platform that aids businesses in the establishment of interactive online storefronts and virtual experiences, last year. Customers could explore a virtual mansion that featured Ferragamo goods at the online store dubbed “House of Gifts.”

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ART & COLLECTABLES

The crypto decline may be used by Binance to increase its market share in NFT

Football fans will soon have the opportunity to buy “an iconic piece of sports history” thanks to a collaboration between Cristiano Ronaldo and Binance.

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CR7 is starting to participate in NFTs.

The football phenom revealed his exclusive collaboration with Binance today. The multi-year contract, according to Ronaldo, will provide fans the chance to “own an iconic piece of sports history” and take part in his Web3 community.

In a video, Ronaldo stated, “Today we are going to transform the NFT game and move football to the next level.”

The Binance-controlled exchange and the Binance Smart Chain are two of the largest elements of one of cryptocurrency’s largest ecosystems (BSC). With 407 different protocols built atop it and $5.92 billion in value locked, BSC is the second-most used blockchain (after Ethereum).

Binance has had trouble creating a thriving native NFT ecosystem despite these great figures. With only $79 million in total trade volume, PancakeSwap, the decentralized exchange and flagship protocol of Binance, ranks twenty out of the NFT markets (OpenSea and LooksRare, two Ethereum marketplaces, had respective trading volumes of $31.24 billion and $23.23 billion).

Therefore, the alliance with Ronaldo might be interpreted as an effort by Binance to add value to BSC and start growing the NFT market share of the blockchain. On this retweet of the formal announcement, Binance CEO Changpeng Zhao “CZ” may have hinted as much: “Now, we start.”

This week saw the announcement of several noteworthy NFT partnerships, such as Pharell Williams’ recent appointment as Chief Brand Officer for the Doodles line.

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