What NFT Collections Are Trending?
The non-fungible token (NFT) marketplaces continue to be a hive of activity despite continued bearish prices in the cryptocurrency sector. This week’s sales volume was boosted by an appetite for new collections, with PlayDapp & Mikey, Critters Cult, and Exosama leading the way.
- In the past week, Critters Cult has skyrocketed in popularity due to its unique avatars.
- PlayDapp & Mikey is another huge hit among NFTs, with the adventures of a DJ panda selling out in only three hours on Sept. 22.
- Mutant Ape NFTs are used as collateral to borrow $1.3M in Ethereum.
PlayDapp Members & Mikey
This is an NFT collection from the blockchain gaming and NFT marketplace PlayDapp. The entire collection of 10,000 NFTs, which sold out within three hours on Sept. 22, features the adventures of DJ Mikey the Panda.
The collection is only available on PlayDapp Market and its developers hope that NFT enthusiasts will join the community now that the utility of the NFTs can be realized with the soft launch of a new game called "Tournaments" this week, which will bring perks to holders of the Mikey NFTs. Mikeys can also be staked to earn PLA, which is the native token of PlayDapp. In the crypto world, staking means locking the crypto asset for a set period of time to support the operation of a blockchain.
The current floor price is 3.5 MATIC ($2.6) for a rock star panda. The floor price is one of the key metrics used by NFT collectors to determine the strength of a project. However, collections that are just starting out like this one usually tend to have low floor price tags because they have not found their true valuation yet.
Critters Cult was launched earlier this month on OpenSea, and since then, it has been skyrocketing. The NFT has increased by 197,986,886% in the past week.
The surge is due to its unique avatars that are influenced by pixelated collections such as CryptoPunks. It is a sci-fi visual narrative heavily influenced by 80-90s aesthetics featuring animals like cats and owls.
Its floor price is 28 Solana (or $949) and a total sales volume of 70,000 Solana (or $2,373,956). The project was created by Suns, a pixel art studio founded by Solana artist @rgb0x00. The next stage in the roadmap for these NFTs will be a web app and next year’s launch of Sunsets: Saga, which will bring new settings and landscapes.
Mutant Ape Yacht Club
The Mutant Ape Yacht Club is an NFT project that’s an extension of the Bored Ape Yacht club. Created by Yuga Labs, MAYC is among the most expensive NFT collections on the market, with an average price of $24.42K.
MAYC was in the news last week when a borrower used the star-studded JPEGs as collateral to borrow 1,000 ETH ($1.3 million). Many users were unfamiliar with NFT as collateral, and one of the most popular NFT collections saw a surge in sales.
Exosama – Expect Chaos
Launched earlier this month, Exosama - Expect Chaos is a sci-fi adventure collection based on the Polkadot network. In this collection, 10,000 EXOs fight to liberate the city of NOVA from a tyrannical regime.
With its sci-fi element, the collection gained popularity among investors, soaring 100% in sales volume last week. The floor price of EXO is 3.2 Ether (or $4236) with a total sales volume of 1.2k Ether (or $1,58,878,800).
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 writer to invest in cryptocurrencies or other ICOs. Because each individual’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 when this article was written, the author does not own the cryptocurrencies mentioned above.