Welcome to the NFT Weekly Roundup, where we bring you the most important and interesting news from the world of non-fungible tokens. This week, we have seen a drop in NFT sales, a controversy over a charity project, new NFT games on Epic Games Store, and more. Let’s dive in!
The non-fungible token market has yet to recover from the recent crash that left many of its NFTs floor prices plunging more than 70% of their value Source. According to data from DappRadar, the total sales volume of NFTs across all platforms dropped by 13% this week, from $1.2 billion to $1 billion. The number of active traders also decreased by 9%, from 193,000 to 176,000.
However, not all NFT projects suffered the same fate. Some of them managed to increase their sales and popularity despite the market downturn. One of them is Bitcoin Ordinals, a collection of 21,000 unique pixel art NFTs that represent the ordinal numbers of the first Bitcoin blocks. The project saw a 18% increase in sales this week, reaching $4.6 million. The average price of a Bitcoin Ordinal NFT is now $219, up from $186 last week.
Pixel Penguin, an NFT project that claimed to donate 100% of its proceeds to charity, has been accused of being a scam by a blockchain investigator, ZachXBT. According to his report, Pixel Penguin sold over 10,000 NFTs for 0.02 ETH each, raising over $400,000. However, only $2,000 was donated to charity, while the rest was transferred to various wallets and exchanges. ZachXBT also alleged that Pixel Penguin used bots and fake accounts to create hype and demand for its NFTs.
In other news, Epic Games announced that it will list NFT games on its store, starting with two titles: Blankos Block Party and Big Time. Blankos Block Party is a multiplayer party game where players can create and customize their own NFT characters and play mini-games with others. Big Time is a sci-fi action RPG where players can team up with friends and explore different timelines while collecting NFT items and weapons.
Bored Ape Yacht Club (BAYC), one of the most popular NFT collections in the market, has seen a huge surge in demand and price this week. The floor price of a Bored Ape NFT has risen by 108% in the past seven days, reaching $150,000. The total sales volume of BAYC also increased by 77%, reaching $77 million.
One of the reasons behind this rally is the announcement of Bored Ape Kennel Club (BAKC), a new collection of 10,000 dog NFTs that will be given for free to BAYC holders. The BAKC will be revealed on September 4th at 5 PM ET and will have different traits and rarities than BAYC. Another reason is the growing popularity and influence of BAYC in the mainstream culture, as celebrities like NBA star Stephen Curry and rapper Post Malone have joined the club.
That’s all for this week’s NFT Weekly Roundup. Stay tuned for more updates and insights from the NFT space next week!
