Crypto Twitter NFT influencers have been relatively quiet for the past two weeks as trading volume on OpenSea has dropped to a 3-month low and key emerging market analysts attribute a bear market to a bear market.
While total sales decreased compared to the previous months, some projects recorded a significant increase in the last week.
Data from Dune Analytics shows that on Nov. 14, the amount of Ether traded daily on OpenSea increased from $ 48 million to $ 105 million, and at the time of writing, it has shipped $ 63.1 million in Ether.
That increase appears to be linked to a more than 900% increase in sales volume of Bored Ape Yacht Club (BAYC) NFTs and related projects such as the Mutant Ape Yacht Club, which is also up more than 1,000%.
Recent purchases from celebrities like Jimmy Fallon, the launch of 2,500 Rolling Stone limited-edition magazines with Bored Ape on the cover, and the announcement that the Common New Music Group will be starting a new music group. The Metaverse-based band called Kingship could be the reasons for this. behind the growing interest in the project.
– jimmy fallon (@jimmyfallon) November 12, 2021
More positive news comes on November 12th after multi-Grammy Award winner Timbaland and acclaimed record producer announced that its newly formed Ape-In Productions studio will use Avatars, the BAYC NFT in various aspects of creating music and animation of the metaverse.
Derivatives of the tailless monkey thrived
It is often said that imitation is the most sincere form of flattery, and it appears to be the case in the NFT market today. A newly launched project called Lil Baby Ape Club (LBAC) is currently experiencing massive sales on Opensea with a volume of 1,417 ethers, reflecting an increase of 207.344% in the last 24 hours and a reserve price of .438 ethers.
Toddler Ape launched on November 15 with a mint price of 0.02 ether ($ 94) and is modeled on the original BAYC project. The current volume and average retail price of $ 2,200 are clear signs that this project is popular with collectors, hobbyists, and speculators.
No wonder those little baby monkeys spent 0.02 mints yesterday … crazy.
Even crazier than the guys who asked for free when LBAC started. The first 200 mints are free! https://t.co/jTvN6xtOFn
– Little toddler monkey club | SOLD OUT! (@LilBabyApeClub) November 15, 2021
The extremely rare monkey dynamics, golden skin and laser eyes that are coveted by collectors are also featured in the LBAC project and today an LBAC that goes with gold leather was sold for 7 ethers (33,000 USD).
LBAC # 1604
– Lil Baby Ape Club | SOLD OUT! (@LilBabyApeClub) November 15, 2021
While the LBAC project puts up some impressive numbers shortly after it was minted, it will be interesting to see whether the current hype is being driven solely by speculation and short-term manipulation, or whether NFT influencers and well-known collectors put their arms around the project in a. stretch out This gives it the same status as other blue chip projects in the room.
The Bored Ape Yacht Club is not an Artistic Commons (CCO) public domain project.