Art Gobblers Eat Up the Market with $18.95m in Sales

Check out the NFT Highlights between October 31 and November 6, 2022

Art Gobblers were the main story over the past week, as the collection minted for free and generated $18.95 million in overall trading. Floor prices and average sale prices for the collection went up and down as news of the project spread before early collectors took their profits. Elsewhere, strong trading in Art Blocks NFTs puts the collaborative collection near the top of DappRadar’s Rankings.

Art Gobblers dominate Punks and Apes

Art Gobblers dropped just over a week ago with a free mint for an exclusive whitelist. In the time since, the collection has gone up and down in value, with the most expensive Gobbler selling for $137,810, and the floor price reaching a peak of 22 ETH on November 2.

Since then, the average sale price has dropped to around $28,840 and many people who weren’t there at the mint have lost money. Some sections of the Web3 community have questioned the morals of NFT influencers being given free Gobblers and then using the rest of the space as exit liquidity.

Despite this, the collection had an impressive trading week and sits at the top of DappRadar’s NFT Rankings, above the likes of CryptoPunks, Bored Ape Yacht Club and CloneX. In the past week, traders bought and sold $18.95 million worth of Art Gobblers and netted the creators a cool $1.3 million in royalties. 

Whether or not it can repeat these figures and become a true blue chip is a question for next week.

Art Blocks’ collections combine for $6.7 million in trading

Two Fidenza NFTs made it into the top 10 NFT sales over the past seven days. And Chromie Squiggles reached their highest ever ETH floor price. So it’s no surprise that Art Blocks, the curation platform that hosts both of these generative art collections, made it to number two in our Collections Rankings.

Fidenza pieces make up the five most expensive Art Blocks items. Together, sales for those NFTs amounted to $1,112,492 or 709.61 ETH. 6529 Capital paid $471,153 for Fidenza #783, making it the most expensive piece from Art Blocks over the past week. 6529 Capital is a consultancy team helping traditional investors invest in Web3.

Alongside Fidenza, other big sellers from Art Blocks were:

Check out the list of NFT Sales highlights

N.B. Dollar values given are correct at the time of sale.

Every week, DappRadar highlights not only the most expensive NFT sales but also the most interesting in the previous seven days. While huge numbers are sure to capture headlines, it’s also essential to highlight emerging trends and keep the DappRadar community ahead.

1. 74059 – 5 million XTZ / $6.85 million
2. 21633 – 1 million XTZ / $1.38 million
3. Fidenza #783 – 300 ETH / $471,150 – Owner’s Wallet
4. CryptoPunk #8191 – 284.2 ETH / $428,270 – Owner’s Wallet
5. CryptoPunk #5924 – 199.99 ETH / $308,400 – Owner’s Wallet
6. Sad Doge – 185 ETH / $290,810 – Owner’s Wallet
7. Fidenza #100 – 135 ETH / $212,220 – Owner’s Wallet
8. Chromie Squiggles #9502 – 130 ETH / $204,360 – Owner’s Wallet
9. Axie Infinity Land (-30, -23) – 111 WETH / $180,980 – Owner’s Wallet
10. Fidenza #528 – 111.11 ETH / $174,610 – Owner’s Wallet

DappRadar has automatically recorded and cataloged two NFT trades that took place on the Tezos blockchain. They are the two most expensive NFT sales of the past seven days, which is unusual for NFTs on the network. 

Looking at transaction data on a Tezos explorer, there’s reason to believe the trades could be suspicious. Our team is currently looking into the sales to confirm whether they were legitimate trades.

Top NFT Collections of the week

N.B. Dollar values given are correct at the time of sale.

As usual, Yuga Labs has multiple representatives at the top of DappRadar’s Rankings for NFT Collections. Trading volumes Bored Ape Yacht Club and CryptoPunks both topped the $5 million mark although both collections had a slight drop in overall market cap. 

This drop in value isn’t the result of a lower ETH price, so we have to assume there has been a small fall in demand for the collection. If we look at other on-chain metrics, particularly for CryptoPunks, we can see there’s been a fall across the board.

As mentioned already, Art Gobblers and Art Blocks are at the top of the Rankings. And Gods Unchained makes up the rest of the top five, perhaps proving what we’ve been saying at DappRadar for a few months now: gaming is at the forefront of the Web3 revolution.

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