After many onlookers observed the slow death of the NFT market across 2022, new year’s day brought fresh life to its performance and a substantial boost in opportunity, according to the latest figures. In the first week of January, weekly trade volume surpassed the $209 million mark, and thus denoted a climb of 26%, against the final week of 2022. According to metrics by cryptoslam.io, 1.2 million NFT transactions saw completion during this period, among more than 700,000 buyers.
The recent talk of the town within social media, and across NFT circles in particular seems to be all about the Game of Thrones NFTs that recently saw release on niftys.com. It had evidently been a wild success in the market, especially when considering the fact that all tokens sold out on the very day of their launch. Despite this however, the collection has been facing an onslaught of critical remarks by fans and followers, calling out the NFTs for being poorly drawn. Meanwhile others have pointed out bizarre shapes and “salad fingers” that many of the characters have.
All eyes in the crypto-realm are currently looking toward the Australian tennis open, which is currently underway. This time around, the governing body, Tennis Australia has announced its plans to expand its NFT ball art program, significantly. The move is remarkable because the organization is deciding to go on with the initiative, despite the widespread uncertainty dominating wider cryptocurrency markets. This “AO Artball” NFT project saw its launch last year, when NFT craze was at its height, and the crypto-market was extremely bullish and optimistic.
NFTs to Watch
Mutant Hound Collars NFT
The Mutant Hound Collars NFT collection was among the top winners of recent days, with its floor price seeing a surge of 257%, and its trade volume making it to 1,150 ETH.
The collection is among the most popular within NFT spaces and is for fans of lore-driven fantasies. There are 10,000 collars within the collection, which allows its holders to redeem hounds from the infamous ‘hound lair’. Based on the lore surrounding this tale, these are hounds, upon which rigorous experiments have been conducted, and hence mutated in the process. Each of the redeemed hounds is highly unique and can see trading, swapping, and use within the ecosystem.
Friendship Bracelets NFT
The Friendship Bracelets NFT project by Alexis Andre has been seeing a growing interest surrounding it as of late, especially as it made it to the top of Opensea rankings this week. The concept is one that takes digital art to its limits, in an attempt to produce highly intriguing works of art which bring subjective meaning, yet no inherent value. In its essence, it very much is a commentary on the notion of a nonfungible token, and art in general.
The Friendship Bracelets project is a darling among art enthusiasts in NFT spaces due to its elegant designs, which come about through the most accessible of tools. With constantly shifting forms of NFT and complex ecosystems seeing launch with each given day, the pure and simplistic Friendship Bracelets NFT collection is a breath of fresh air.