RENGA Overtakes Bored Ape Yacht Club in NFT Sales – Top NFT Highlights

Check out the NFT Sales Highlights ranking between September 25th and October 2nd, 2022

A handcrafted collection of 10,000 characters called RENGA by artist Dirty Robot is the second most traded NFT collection in the last seven days. Each NFT has its own identity to be discovered within the broader lore of RENGA. At writing, the collection generated more than $7.5 million in trading volume. 

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

As always, we see blue chip NFTs dominating the highest value sales. The highest value NFT sale in the past seven days was for CryptoPunk #2924 for 3,300 ETH or more than 4.2 million dollars. The second place also belongs to another punk, Zombie CryptoPunk #5944, for 980 ETH, or about $1.2 million.
The third highest sale belongs to Bored Ape Yacht Club #8585, which changed hands for 777 ETH, or about $1 million. Interestingly, this ape is sporting a king’s crown, with the sale seemingly timed perfectly with the Queen’s passing and King Charles’s installation. Can you see similarities between this Bored Ape (BAYC) and the new King of England?

Bottom of the bear 

One reason for such high volumes of CryptoPunk and BAYC NFT sales lately could be that traders expect markets to settle and potentially begin stabilizing soon. BTC appears to be very comfortable around the $19k area. At the same time, ETH seems content at around $1,000, long-term forecasters are speculating on the bottom, and some whale buyers appear to have taken the signal.    

The fourth highest value NFT sale was for a piece of land in the forthcoming Yuga Labs Otherside metaverse world, which changed hands for 200 WETH, or around $280,000. Interestingly this plot has a Koda on it, which explains the value. 

We see that the price of this plot bucks the trend of land changing hands for around 20 ETH during the past seven days. Land featuring a Koda, one of the key characters in the Otherside universe, generally enjoys a much higher value. 

Check out the list of NFT Sales Highlights

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

1. Azuki #2311 – $134.56k / 100 ETH – Buyers wallet
2. Fidenza #974 – $120.92k / 92 ETH – Buyers wallet 
3. Ringers #323 – $90.14k / 65 ETH – Buyers wallet 
4. CloneX #4491 – $84.93k / 63 WETH – Buyers wallet 
5. CloneX #10071 – $77.42k / 58 ETH – Buyers wallet 
6. Mutant Ape Yacht Club #15042 – $65.85k / 50 ETH – Buyers wallet 
7. Meebit #6272 – $60.06k / 60k USDC – Buyers wallet 
8. RENGA Black Box #593 – $58.25k / 44.44 ETH – Buyers wallet
9. Beanz #2557 –  $50.08k / 37.5 ETH – Buyers wallet
10. QQL Mint Pass #555 – $30,965.76 / 24 ETH – Buyers wallet

Renga by Dirty Robot 

While NFT markets have cooled lately, some collections make an impact straight out of the blocks. RENGA, by crypto artist and illustrator Dirty Robot, has performed so well that it currently stands as the second most traded NFT collection behind CryptoPunks over the previous seven days and generates more than $7.5 million in trading volume. 

Such buoyant trading in the last week pushed the average price of a RENGA NFT up 35% to 2.29 ETH, while the average sale price is closer to 3.6 ETH. 2315 RENGA NFT sales occurred in the last seven days, with the most expensive being for RENGA #26, which sold for 20 ETH, or almost $26,000. Metadata shows this particular RENGA NFT has 1 of 1 8-bit feature and is an Alchemist. 

We also see our first RENGA NFT whale with a collection of 80 RENGA NFTs with an estimated value of $235,000 based on the floor price. ​​

QQL Mint Pass The New NFT Art Sensation

Behind RENGA, but above BAYC and MAYC NFTs, we see the QQL Mint pass collection. QQL is a collaborative experiment in generative art by Tyler Hobbs and Dandelion Wist Mané. A QQL Mint Pass gives the owner the right to mint an official QQL NFT with the artwork of their choice, as generated on qql.art. 

There are 999 available tokens, and each token grants a holder the ability to mint one NFT. A Dutch auction will provide an opportunity to bid on 900 tokens. The creators will reserve 99 tokens for surprise collaborations.

The average price for a mint pass is around $22,000. The most expensive so far was Mint Pass #555, which sold for 24 ETH, approximately $30,000. However, given that most of Tyler Hobbs’s generative art pieces, such as Fidenza, went on to command values north of $100,000, it makes it a realistic cost entry point. 

The most exciting thing about these NFT art pieces is that holders can play with the algorithm through the Create page by connecting a web3 wallet. Users can save unique outputs and images with the ability to come back and continue to iterate. Additionally, a contest challenges collectors to make their best creations using the QQL algorithm, reflecting QQL’s focus on community curation.

More NFT Marketplaces see growth

While OpenSea enjoys its first mover advantage position as the leading NFT marketplace, several suitors knock on the door. It’s also great to see two dapp native marketplaces in the top ten as the CryptoPunk and Axie marketplaces continue to be the place traders use for these NFT trades. 

The strongest indicator of OpenSea losing its grip is an almost 20% drop in trader numbers. In comparison, competitor platforms Magic Eden and X2Y2 saw around 3% bumps in the number of traders over the past week.  Both these platforms now deal in Ethereum NFTs, strengthening their positions further. 

The above does not constitute investment advice. The information given here is purely for informational purposes only. Please exercise due diligence and do your research. The writer holds positions in various cryptocurrencies, including BTC, ETH, and RADAR.

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