BAYC NFT Sells For 777 ETH – Zero To Hero NFT Grows 6,600% In Price Amid Crypto Slump

BAYC NFT Sells For 777 ETH – Zero To Hero NFT Grows 6,600% In Price Amid Crypto Slump

The NFT space continues to be impacted and feeling the heat even more. Coming into the third week of August, the global sales volume for NFT is around $639 million. With that, this could be the third consecutive month that NFT sales fall below the $1 billion mark.

The market is not all bad. According to Cryptoslam’s statistics, the leading collection is Bored Ape Yacht Club (BAYC), with sales of $2.5 million. Amid this downturn, BAYC managed to sell their “golden ape” at 777 ETH or around $1.5 million. Despite the high price, this golden ape has ranked only 320th in rarity according to the website Rarity Tools.

“I wanted to collect a golden monkey. 777eth is a suitable price. Yuga [Labs, the creator of BAYC] will be the first successful social [meta]verse,” said buyer and collector Vis.Eth in an interview with BAYC news outlet Bored Ape Gazette.

The other highlight would be on Bybit‘s NFT Marketplace. They have announced the launch of its brand-new specialized NFT portal GrabPic, where users can purchase state-of-the-art NFTs at attractive prices, with no gas fee, and trade for profit in the secondary market. With GrabPic, Bybit offers high-quality, exclusive NFT projects from crypto-native and traditional artists, GameFi projects, Metaverse projects, and many more.

Their first GrabPic listing is Zero to Hero. This is its very first NFT book collection offered to their users. This new NFT collection is created by Anndy Lian, a celebrated thought leader in the crypto and NFT community.

All 8,000 NFTs listed were sold out in 1 min.

Image Source: https://twitter.com/Bybit_NFT/status/1559138807152508928

The selling pricing at launch was 2.99 USDT. At one point, due to the demand, the floor price was pushed to 30 USDT. Then upon revealing the rarity of the NFT collection, one of the legends NFT reached 200 USDT, a 6,600% price rise.

Image Source: https://twitter.com/Bybit_NFT/status/1559783341028933632

“I am very grateful that my NFT book collection was all sold out. This gives a firm push for other creators to come forward to share their works and a confident booster for myself when I launch the book on Amazon next month. In my book, I have mentioned several times that the NFT space is still in its early days, and early adopters can be a “hero” in their search for new possibilities.” Anndy Lian, the book author of NFT: From Zero to Hero said.

The low price; high-quality strategy helps to bring more interest and brings life to the NFT marketplace on Bybit. Additionally, the marketplace will have a merge card function to be announced later in the month. Holders of previous GrabPic collections can get a chance to merge their NFT to receive more surprises. Anndy Lian also mentioned that he would be releasing an NFT music soundtrack with the book, and this will also be made available to the GrabPic users.  “GrabPic enables artists and creatives curious about the NFT space to enter with minimal technological barriers, and serves a niche audience through showcasing affordable and unique NFT art. GrabPic aims to democratize the NFT experience for those underserved by existing offerings on both the creator and the collector sides. We have many other projects lined up for our NFT marketplace. We will reveal them to all of you by batches.” Jenny Zheng, BD Lead, Bybit NFT Marketplace commented.

Looking beyond the crypto native markets, more companies are adding NFTs to their existing business. The cost of entry to the market is relatively lower and more transparent now. The outlook of the NFT market, in the long run, is still bullish.

 

Original Source: https://www.benzinga.com/22/08/28569589/bayc-nft-sells-for-777-eth-zero-to-hero-nft-grows-6-600-in-price-amid-crypto-slump

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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NFT sales limp into August with a 25% drop from June to July amid crypto slump

NFT sales limp into August with a 25% drop from June to July amid crypto slump

Market analysts are mixed on outlook for non-fungible tokens, as some see mostly gloom, others point to glimmers of optimism.

Non-fungible token (NFT) sales in July on secondary markets fell 25% from June to US$650 million, the second month in a row under US$1 billion, according to data from NFT aggregation site CryptoSlam, and reflecting a broader crypto slump.

Sales had peaked in January at US$4.7 billion, with more than 1 million unique buyers in the market.

“The current [crypto] market right now is in a bear market,” Anndy Lian, blockchain author and entrepreneur and founding member of NFT creator studio Influxo, told Forkast in an interview. “So [NFT] sales actually reflect very much on how the market is reacting.”

Yehudah Petscher, NFT relations strategist for CryptoSlam, said he thinks the market has yet to find the bottom.

However, he did find some optimism in the number of unique buyers in the market, pointing out buyers fell just 7% month-on-month in July to 532,000, which remains higher than in the same month last year.

This shows, Petscher says, that while total sales in U.S. dollars are down, the number of transactions make for a slightly more optimistic outlook.

“NFTs are in rough place right now, but I still think in a very healthy place as far as growth [or] as far as transactions [are concerned],” Petscher said.

The so-called “Merge” for Ethereum could also give the NFT market a shot in the arm, as the leading blockchain for NFTs is slated to move to a proof-of-stake (PoS) network in coming months.

The move to PoS will reportedly reduce the energy used in the Ethereum network by up to 99%, blunting environmental criticism of how the network operates.

“I think [the Merge] will create another spur of hype among the Ethereum fan base,” Lian said, but warning that transaction fees — another common criticism of the Ethereum network — will likely remain high.

NFT and crypto markets now seem to be largely correlated, despite expectations during the NFT boom of late 2021 and early 2022 that they would be inversely correlated. The view then was investors would be less willing to buy NFTs when the crypto they were denominated in was gaining in U.S. dollar terms.

Rather than falling crypto values driving the price of NFTs up to compensate, the overall negativity in the market is driving prices lower to attract what buyers are there, Petscher said.

“There’s not a lot of liquidity and people are worried that there’s not going to be buyers when they’re looking to sell, so it is a race to the bottom,” Petscher said. “We can see that with prices across the board.”

Apes (still) rule

Projects from Yuga Labs continued to dominate the top of the bestseller list in July, with Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC) and CryptoPunks all in the top five.

This made the project the seventh to reach the US$1 billion in total sales mark, despite it only launching in May.

With over US$30 million in secondary sales in July, soccer-based collection Sorare came in third on CryptoSlam’s list. Sorare allows people to buy and sell players as part of a global fantasy football competition as another way to interact with the world’s game.

Petscher told Forkast that he expects sports to be a real growth area, as these tokens typically bring with them increased utility.

Another growth area is art, Petscher says, who sees attention beginning to move away from NFTs as simply profile pictures to more fully fledged pieces of art as more creators move into the space.

“It’s just the tip of the iceberg,” Petscher said. “Art [NFTs] are just starting, it’s here in a big way and it will just keep growing.”

 

 

 

 

 

 

Original Source: https://forkast.news/nft-sales-limp-july-25drop-june-crypto-slump/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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