NFT Markets Post Record-Breaking Week

NFT marketplace OpenSea saw record trading volume on Saturday and Sunday as CryptoPunks, ArtBlocks and Bored Ape Yacht Club prices soared.

By Eliza Gkritsi

Aug 2, 2021 at 11:38 a.m. UTC

Updated Sep 14, 2021 at 1:34 p.m. UTC

Daniel Alegre

CEO

Yuga Labs

Hear from Yuga Labs new CEO in his first public appearance since assuming the position.

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Daniel Alegre

CEO

Yuga Labs

Hear from Yuga Labs new CEO in his first public appearance since assuming the position.

Secure Your Seat

Eliza Gkritsi

Daniel Alegre

CEO

Yuga Labs

Hear from Yuga Labs new CEO in his first public appearance since assuming the position.

Secure Your Seat

Daniel Alegre

CEO

Yuga Labs

Hear from Yuga Labs new CEO in his first public appearance since assuming the position.

Secure Your Seat

Markets for digital collectibles known as non-fungible tokens (NFT) have climbed to record highs in trading volume and average prices in the past week, particularly over the weekend.

Trading volume of NFTs on Ethereum reached $171 million, up 338% from the equivalent week in the previous month, OKLink, an OK Group market intelligence subsidiary, told CoinDesk.
OpenSea, an NFT marketplace, saw record-breaking trading volume in the past two days. Volume reached $35 million on July 31 and $49 million on Aug. 1 according to on-chain activity monitoring platform DappRadar. Excluding July 31, OpenSea had an average daily trading volume of $8.3 million in July, with a high of $14.4. million on July 17.

CoinDesk - Unknown — Daily trading volume and average prices of NFTs on Ethereum reached record highs over the weekend.

The volume of trading for CryptoPunks reached $78.4 million over the weekend, OKLink said. Today, the average price for CryptoPunks reached a record-high 66.919 ETH ($175,520) on OpenSea.
Another collection, ArtBlocks Curated, also saw record average price of 8.1216 ETH ($20,990) on July 31, according to OpenSea data.
Average prices for Bored Ape Yacht Club (BAYC) digital collectibles hit an all-time high on OpenSea on Sunday. The average price for one of the 10,000 Bored Ape collectibles was 11.2614 ETH ($29,200), according to platform data.
A July 30 article in the New Yorker was published just days before the BAYC community came together at a meetup in Venice Beach, California. The collective also held a simultaneous event on virtual world Decentraland.

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Eliza Gkritsi

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Eliza Gkritsi