Home » Mutant Ape Yacht Club, CryptoPunks Among This Week’s Record-breaking NFT Sales

Mutant Ape Yacht Club, CryptoPunks Among This Week’s Record-breaking NFT Sales

by admin

  • NFT-backed loans have become a popular financing tool for high-quality NFT holders
  • Sales of rare MAYC and Ape Punk NFTs prove Yuga Labs market dominance

The NFT ecosystem has seen a decline in monthly trading volume since the crypto market downtown in May, especially compared to all-time highs in January of this year.

However, this week saw some significant trading activity in particular, with Wednesday having the highest daily sales volume of NFTs measured in Ether (ETH) in September and the past 30 days.

12,565 ETH, or $16.6 million, were traded on September 28th. On Sept. 20, he ETH volume dropped at 12,549 ETH, while $17 million USD increased due to Ether price fluctuations.

This week’s surge can be attributed to $16.75 million in Generative Art sales, $1.3 million in Mutant Ape Yacht Club (MAYC) loan deals, and $4.45 million in CryptoPunks sales.

Tyler Hobbs, creator of Art Blocks’ popular Fidenza project, and Dandelion Wist, co-founder of Archipelago, released mint passes for their new collection QQL through a Dutch auction on Wednesday.

In this generative art experiment, 900 mint passes were sold out using a rebate mechanism, with all buyers paying the same price after checkout. The auction ended with 14 ETH, but the QQL project collected about 12,600 ETH, or about $16.7 million.

Claiming to “empower collectors as co-creators,” QQL Pass holders can use algorithms to select the output of on-chain art they create.

Many QQL collectors may already be collectors of other generative art pieces, and may be collectors of Hobbs’ Fidenzas, a collection recently seen by one owner. Scoop You have won 7 NFTs worth $912,741 within 24 hours.

The success of generative art NFTs has contributed to the growth of the NFT art sector, and the Art Blocks NFT platform stands out thanks to collections such as Fidenza, Chromie Squiggles and Ringers, to name a few.

Art Blocks, which celebrates its second anniversary in November, is also known for its curated collection of projects that can be submitted by individual artists or collaborations.

Its eighth and latest series is also the “last of its kind” Art Blocks announced this week. Future curated projects will not belong to a numbered series.

Mega Mutant Apes Secured Loan

The Mutant Ape Yacht Club’s NFT has become a big bet in a mega NFT lending deal.

Fragment — a company that, according to its Twitter account, “creates rich stories and worlds for the metaverse” — acquired a 1,000 ETH loan worth approximately $1.3 million via NFT lending platform Arcade on Tuesday, I bought Mega Noise, one of the rarest NFTs in the world. MAYC collection.

Collateral is two other Mega Mutant Apes (Mega Electric and Mega Swamp) that the Fragment will lose if it does not repay the loan within 90 days.

Nexo acted as the loan originator, raising the money through Arcade, and Meta 4 NFT Lending Fund raised and constituted the loan’s underwriter, assuming liability in the event of default by the borrower.

“This kind of activity is important because it is not just a sticker shock to assets, but a really great example of tokenized finance. We are at the intersection of DeFi and NFTs,” says Meta4 founder. author Brandon Buchanan said. his managing partner told his Blockworks.

“Trading like this is very complicated because we are valuing assets with little trading history or comparable assets,” Buchanan added. “We want to ensure that our custody solutions are secure and that alternative funding is required from sources that can tolerate the perceived risks.”

This Mega Noise purchase will increase the Fragment’s Mega Mutant count to 5 NFTs. The Mega Mutant Ape is a spin-off of the Bored Ape Yacht Club with a “mutant serum” and there are only a dozen or so of him.

rare ape cryptopunk

Daniel Maegaard, also known as seedphgrace.eth, has sold his rare Ape CryptoPunks NFT for 3,300 ETH ($4.28 million) to an unknown buyer.

This is the highest ETH value sale ever for a non-alien punk. It is also the fourth highest selling Punks of all time and the second highest selling in 2022, behind another Ape Punk that sold for 2,501 ETH ($7.8 million) in February.

CryptoPunks is one of the OG NFT projects. $12.5 million fine jewelry sale with Tiffany’s & Co.

The CryptoPunks and MAYC collections operate under parent company Yuga Labs, which was valued at $4 billion in March. This is the largest valuation of any NFT company to date.

Get the day’s top crypto news and insights delivered to your inbox every night. Subscribe to Blockworks’ free newsletter now.

  • block works


    Ornella is a Miami-based multimedia journalist covering NFTs, the Metaverse, and DeFi. Before she joined Blockworks, she did reports for Cointelegraph and also worked for TV stations like CNBC and She Telemundo. She originally started investing in her Ethereum after hearing about it from her father, and she has never looked back. She speaks English, Spanish, French and Italian. Contact Ornella [email protected]

Related Posts

Leave a Comment