Singapore-based crypto exchange app Crypto.com released its Research & Insights Monthly Chartbook, which covered key aspects of the blockchain industry during the month of April. The crypto market showed signs of fresh hope in March after what had been an unpleasant start to the year.
Many expected the market to continue in the growth pattern that began in late April. However, the reverse was the case. Once again, the market suffered a relapse. The price of BTC continued its struggle, leaving many investors disappointed. Crypto.com gave a deep insight into the market’s state, including areas like NFTs, exchanges, derivates, etc.
We have different articles addressing some of these research segments. But, this piece will strictly examine the state of NFTs during this past month. Non-fungible tokens are still a huge part of the crypto world. Although things are not as heated as they were in August 2021, people are still interested in digital art and the possibilities it wields.
OpenSea and LooksRare are some of the most widely used NFT marketplaces. According to Crypto.com, OpenSea had a dominant presence in the NFT space in April. It reached a peak volume of $281 million on April 3, 2022. According to the chart, OpenSea had a higher daily transaction volume than its competitor in April. Look at the chart below for more details.
Top NFT Collection in the Last Month
Some NFT collections had a huge breakthrough in April. For example, Moonbirds, a standout collection, captured the attention of NFT users. According to Crypto.com, Moonbirds led the total sales in April at $451,472,297. There were about 11,531 buyers and 15,508 transactions. However, Moonbirds’ popularity is due to it being backed by a group of renowned collectors, the Proof Collective. Among its members are investor Gary Vaynerchuk and popular NFT artist Beeple.
So, Moonbirds surpassed the likes of Bored Ape Yacht Club, which came third with $190,222,707 in total sales. This was a 20.7% sales growth. Mutant Ape Yacht Club (MAYC) came second with $212,929,780 in sales, a 40.8% sales growth. The collection recorded about 2,459 transactions.
Azuki was another high-performing NFT in April. It recorded about $160,343,295 in sales. This was an 84.5% increase. Furthermore, there were about 1,218 buyers and a total of 2,064 transactions. However, the collection came under fire in recent days after news emerged that the project’s developers had abandoned three projects before Azuki. The creators received a backlash from the community, who expressed their disappointment in what seemed like a fraudulent past.
The founder later issued an apology. He said, “I realized my shortcomings in how I handled the prior projects which I started. To the communities I walked away from, to Azuki holders, and to those who believed in me — I’m truly sorry.”
Furthermore, the NFT avatar set, CloneX, ranked among the top-performing NFTs over the last 30 days with a total sales volume of $109,798,310. Others who made the list include:
- Beanz – total sales of $97,797,498.
- MurakamiFlowers Seed- total sales of $91,796,755.
- World of Women Galaxy – total sales of $81,304,689. This was a 746.1% sales growth.
- Impostors Genesis – total sales of $72,158,201 .
- RTFKT MNLTH – total sales of $66,515,279.
Top Collectibles in Crypto.com NFT by Sales Volume
In March 2021, Crypto.com launched its official NFT marketplace. The marketplace sells NFTs minted on the Crypto.org and Ethereum blockchains and accepts credit and debit card payments. According to Crypto.com, Brilliant Gold, created by Crypto.com, emerged as the top collectible on its marketplace with a sales volume of $371,289. In addition, it had a floor price of $11.
The PsychoKitties, a collection of 10,000 unique metaverse characters created by an algorithm, were the second most popular collectible. It recorded about $286,008 in sales and had a floor price of $105.
Finally, Umbral Obsidian was the third top collection on Crypto.com. It had a total sales volume of $226,362 and a floor price of $575.
This report shows us that NFTs still have a huge portion of people’s portfolios. According to Chainalysis, as of May 1, collectors have sent more than $37 billion to NFT marketplaces in 2022. This puts them on track to surpass the total of $40 billion sent in 2021. In general, April was a month of recovery for the NFT community after what had been a shaky start to the year.
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