This is the NFT marketplace report for December 11th, 2019.
Since it’s becoming a larger and more complex market, I won’t be able to capture all recent activity in this report, but I will attempt to highlight the headline makers and trends of the past week(ish).
SuperRare
SuperRare allows digital artists to tokenize and sell their art on the blockchain, which enables proof of provenance, scarcity, and ownership.
(Source: nonfungible.com)
Arguably the biggest marketplace story of the last week (yeah, yeah, we’ll get to Gods Unchained in a second), SuperRare art has been hot, hot, hot, with 255 ETH ($38.5k) in sales volume! Check out these all-time sales statistics from a SuperRare Tweet on December 10th:
Incredible, especially that average re-sale return-on-investment (ROI) of 861%! I think we can safely say that digital art has gone viral and will continue on-boarding new artists and collectors. Can you imagine if a Banksy showed up on the blockchain? That would likely move the ETH/USD market in a noticeable way, ICO style!
Gods Unchained
Still firmly in the lead by a wide margin, the Gods Unchained (GU) market continues to impress, with $238k in sales volume over the last week. Not surprisingly, the overall trend in sales has been decreasing since shortly after the GU market first went live in November, as those numbers were not sustainable.
(Source: nonfungible.com)
Notably, on December 5th, a “Mythic” card was sold on opensea for 210 ETH (~$31k). Read the interview with the seller, here. Only four Mythic cards exist (and there is only one of each). [Edit: “Prometheus,” a second Mythic, was sold on Dec 9th for 235 ETH!]
Decentraland
What? Yes, Decentraland.
Let’s use a different reference for Decentraland’s market data:
(Source: metalith.io)
This is pretty neat, actually. Metalith.io has just launched a “land price index” which tracks the Decentraland land market. Kind of like the S&P 500 for virtual land, the index allows for quicker interpretation of the state of the land market, and can be broken down by zones within Genesis City. This is useful because market activity varies considerably depending on where the land is located (location, location, location!).
Decentraland sales have picked up in recent days, putting the project in second place, behind GU for weekly sales volume, with $83k in parcels and estates sold.
(Source: nonfungible.com)
One of the largest sales was this 20-land estate for $13.7k:
(Source: nonfungible.com)
Although Decentraland is still in beta, new features and content have been rolling out quite consistently, and the game will hopefully launch in the not-too-distant future.
Cryptovoxels
Though one might initially overlook this project with it’s $11k in weekly sales, there have been a few spikes in market activity in the last couple of weeks:
(Source: nonfungible.com)
Several parcels have recently sold for a premium in the Tokyo district, including this three-lot bundle for 7.9 ETH, which is a good chunk of change for Cryptovoxels. It’s fair to say that the trend in Cryptovoxels sales activity can be correlated with what’s been happening with digital art sales, as digital art can often be found displayed in Cryptovoxels’ art galleries, and the two user bases likely overlap.
Also of note for this week’s marketplace report was the completion of the first land auction for “The SandBox.” 2.5% of their total land was put up for sale and was sold out within four hours. Don’t fret, however, as there is a secondary market on opensea if you feel like you’ve missed out and want to pick up some land. The SandBox has a history of success in the gaming business with tens of millions of downloads and partnerships with some pretty big names. This might be one to keep an eye on.
Overall, the NFT market has been very lively as of late, with increased activity across the board. Even Cryptopunks and Cryptokitties seem to be experiencing a revival. Let’s hope the trend continues! See you next time!