Non-fungible tokens continue to be one of the most heavily-discussed topics within the cryptocurrency community. Some are arguing that they are essentially running out of steam, although a few events of late seem to be pointing towards the opposite direction.
XCOPY Sells $22 Million Worth of NFTs
XCOPY is one of the most prominent NFT artists. Entirely anonymous, the artist is perhaps best known for his “Right-click and Save as guy” NFT that sold for a whopping $7.09 million on December 10th of 2021, becoming one of the top 10 most expensive non-fungible tokens.
Now, in collaboration with Nifty Gateway, the artist has sold another $22 million worth of art. The piece in question is called MAX PAIN, and it sold a total of 7394 editions worth $3,100 each. This translates to roughly $23 million worth of sales.
This is what the art looks like:
It’s worth noting that this is a static image – the original one is dynamic and is best visualized on the official website itself.
The piece is currently held by 5255 unique owners, and there are almost 140 secondary sales already – less than 24 hours since the release.
Overall NFT Volume on the Decline Nonetheless
Despite the above, it’s also true that the total sales volume of NFTs across the board seems to be declining.
It’s also worth noting that there were multiple reports back in 2021 that a lot of the volume was inflated, so the drop might not be as considerable as it seems when discussing real volume.
Moreover, we see the increased interest in APE coin – the cryptocurrency launched by the Bored Ape Yacht Club – continues to surge, and it’s also one of the most preferred tokens to trade by large Ethereum wallets.
All in all, it appears that the hype for NFTs might not be as massive as it was towards the end of last year, but the trend is nowhere near dead, as some proclaim.