• Sun. Jun 23rd, 2024

GameStop, BAYC, And MAYC NFT Projects Record Low Sales In Market Crisis

Deborah Brown

ByDeborah Brown

Aug 22, 2022

The daily revenue report from GameStop, the NFT marketplace revealed that the firm recently made $166,800 in NFT sales. Through the sales volume, the marketplace raked in about $3,753 revenue which it considers low.

GameStop Marketplace Lost About $2000 In Daily Revenue Value

According to analysts, there is a significant reduction in users’ activities on the GameStop NFT marketplace. This is because the report showed that the marketplace’s daily revenue dropped below $4,000, which is lower than usual.

A crypto analytic firm, DappRadar, revealed that GameStop’s revenue has dropped by $2000 as the daily sales rose by 91.24% in the past 24hrs. Furthermore, it showed that the revenue had massively dropped from the value the firm had when it was launched. 

It sold about $1.98M worth of NFTs and gained about $44.5k on July 13. While writing, the report showed that a project on GameStop, HyperViciouZ, made the most significant sales in the past day. It sold about 29.79 ETH, which is worth about $47.841k. 

(Advertisement)Artificial Intelligence Crypto Trading
CypherMind-HQ.com Artificial Intelligence Crypto Trading System – Get Ahead of the Curve with this sophisticated AI system! Harness the power of advanced algorithms and level up your crypto trading game with CypherMindHQ. Learn more today!

BAYC And MAYC NFT Projects Records Low Floor Prices

However, the GameStop NFT marketplace is now the only firm in the NFT sector that is struggling to stay aloft currently. Reports from analytic sources showed that both MAYC and BAYC NFTs collections suffered a massive reduction in their floor price. 

Bored Ape Yacht Club lost 19% of its floor price as it dropped to $109.9k or 68.48 in Ether. On the other hand, Mutant Ape Yacht Club lost a hefty 28.6% to sit at 11.1ETH or $17.987k price.

The two famous NFT collections, MAYC and BAYC, recorded their all-time high of 41.2 ETH and 153.5 ETH in May, respectively. Since then, they have plummeted and dropped by 72% and 55% respectively.

BendDAO NFTs Records Many Liquidations Last Week

BendDAO marketplace loans users ETH worth 30-40% of the floor price of the NFTs they deposit as collateral. Once the NFTs price drops below the health indicator threshold, 90% of a floor price, the marketplace demands a loan down payment from debtors, or it would auction their NFTs deposit.

The report shows that BAYC NFTs collection triggered the health indicators for about 20 loans last week. Additionally, two BAYC NFTs got liquidated and auctioned off this week, and about 10 NFTs are currently facing imminent liquidation. 

On the other hand, 13 MAYC NFTs recently triggered the liquation level and auctioned this week. Currently, another 14 NFTs are facing serious liquidation risks as they have low health indicators value.

Overall, this month has generally spelled doom for many NFT projects. CryptoPunks, another NFT project, recently dropped from its all-time high in August, 77.5 ETH, to 66.45 ETH.

Deborah Brown

Deborah Brown

Deborah Brown is a skilled and experienced news writer recognized for her insightful reporting and captivating storytelling. With a dedication to accuracy and a knack for engaging readers, her articles provide a fresh and informed perspective on current events.

Leave a Reply

Your email address will not be published. Required fields are marked *

Don't Miss Out On CypherMindHQ

#1 Artificial Intelligence Crypto Trading System

Sign Up Now

Try Crypto Engine With a Trusted Broker