Internet Culture Has Big Impact on NFT Sales – Top 10 NFT Sales

Axie Infinity, The Sandbox, and CryptoPunks complete the list

The history of the internet had a big impact on NFT sales last week, as both Tim Berners-Lee and Reddit made it into the DappRadar Top 10 NFT Sales. Internet inventor Berners-Lee sold an NFT through Sotheby’s for $5,4 million, while Reddit auctioned their first individual NFTs for $238,650 and higher. 

NFT collectors see value in holding a piece of history, even when that piece of history is a reference to the original work. Internet inventor Tim Berners-Lee auctioned an NFT referencing the original internet source code for $5,4 million. His invention paved the way for hundreds of memes and new forms of youth culture, and that’s where Reddit fits in. 

Reddit is an online forum that has become a cultural phenomenon. The impact of Reddit can be felt all around the world. For example, an individual group like WallStreetBets dominated news headlines earlier this year when they pumped the value of the GameStop stocks. 

Internet culture might be labeled a joke to some, while it’s part of growing up to an entire younger generation. That’s one of the reasons why NFTs based on internet memes tend to sell for thousands of dollars, because there’s real history and story behind them. Everybody growing up with the internet, will know about Nyan Cat, Grumpy Cat, Disaster Girl and Bad Luck Bryan.

The rest of the NFT sales

Several high-profile CryptoPunks sales, including one with a price tag over $1 million, dominated the charts. At the same time an NFT investor who goes by the name of Danny, purchased a huge piece of real estate in The Sandbox. He paid $863,000 to get his hand on the virtual land. 

1. Sotheby’s x Tim Berners-Lee – $5,4 million – Read more
2. CryptoPunks – punk #1886 – $1,06 million / 450 ETH – buyer’s wallet
3. The Sandbox 24×24 – $863,000 / 3,64 million SAND – buyer’s wallet
4. CryptoPunks – punk #1119 – $844,450 / 400,04 ETH – buyer’s wallet
5. Axie Infinity – Axie #2655 – $816,660 / 369 WETH
6. CryptoPunks – punk #143 – $419,540 / 180 ETH – buyer’s wallet
7. Reddit – Original Block – $397,760 / 175 ETH – buyer’s wallet
8. CryptoPunks – punk #5166 – $274,710 / 133 ETH – buyer’s wallet
9. Reddit – Snooprematic – $261,380 / 115 WETH – buyer’s wallet
10. Reddit – Helium – $238,650 / 105 WETH – buyer’s wallet

Axie Infinity sees major growth

In the past 7 days Axie Infinity has been making major moves. Their sales increased 60% to more than 214,000 sold NFTs. At the same time the number of traders also increased 52%, at almost 50k. We see these growth numbers clearly reflected in the trading volume, which more than doubled over the past 7 days. 

The trading volume is up 140% to more than $81,69 million. This increase comes together with several high profile sales for Mystic Axies. The more players become active in Axie Infinity, the rarer these Mystic Axies become. The sale of one of these Axie NFTs made it into the DappRadar Top 10 NFT Sales this week. 

Read more on how to value Axie Infinity and their Axie NFTs in our valuation report.