It has been an exciting week for the crypto markets, impacting overall NFT sales. Most of the top sales this week are for Otherdeed for Otherside NFTs – although several BAYC NFTs changed hands too. There are also spotlights for Pale Blue Death, RAREPEPE, and CryptoPunks.
There is tremendous interest in the upcoming metaverse for BAYC and MAYC holders, called Otherside. The metaverse’s initial NFT sale almost crashed the Ethereum network, sending gas fees into the stratosphere. It appears those who minted an asset of this collection are willing to cash out, as prices have gotten rather appealing.
This week, several Otherdeed for Otherside land NFTs changed hands. The top-tier one brought in 180 ETH – or $310,000 – making it the most prominent sale of the past seven days. To some, spending that amount of money on a virtual land plot makes sense. Others will shake their heads in disbelief and wonder why anyone would go that far for something that doesn’t exist yet.
Unsurprisingly, there have been a few other Otherdeed sales this week. No other transaction surpassed $300,000 in value, although there have been transfers for $228,000, $180,000, and $161,000. Those amounts are significant and put all other collections to shame. That said, one must wonder if the value paid for these NFTs is a smart investment, as price floors will rise and fall over time. 
The only NFT breaking up this dominance of Otherdeed is “pale blue death”. It is a unique 1-of-1 non-fungible token created by AlphaCentauriKid. Despite being listed for 201 ETH – or $305,000 – it found a buyer within hours. The buyer promptly sent it to BurnAddress, although it remains unclear what will happen to it moving forward.
Looking beyond these big numbers, there have been a few good sales near the $150,000 mark. A RAREPEPE – The Nakamoto, #263, sold for over $158,000. That is rather interesting, although it is good to see more interest in that collection. Several CryptoPunks – #7386, 6748 and Bored Ape Yacht Club NFTs – #483, 5344, 3969, #5622 – were sold for anywhere between $141,000 and $153,000.
Keen eyes may note the same collections continue to make headlines in this space. Given the influx of hundreds of collections on OpenSea weekly, one would expect some new projects to note high-value sales. However, that is not the problem so far, and it seems unlikely much will change. Everyone who missed out on BAYC, CP, or Otherdeed is out of luck to strike it big unless you secure a 1-of-1 piece somehow.
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