HyperViciouZ is recording the largest 24-hour sale volume on GameStop at the time of writing, with 29.78 Ether (ETH) valued at $47,841. OpenSea’s top-selling project during that time period, Pudgy Penguins, generated 860.8 ETH, or $1.37 million.
The NFT marketplace of GameStop, a nonfungible token daily revenue, has fallen to under $4,000, suggesting that interest in the platform has diminished significantly since its launch in mid-July.
According to DappRadar, GameStop NFT has generated $166,800 worth of sales volume over the last 24 hours. With the platform charging a 2.25% fee on NFT transactions, that figure comes to just $3,753 in revenue.
It appears that DappRadar has limited data on GameStop, which confirms that trading volume has pumped 91.23% over the past day, and that figures actually plunged down to around $2000.
The business of the NFTs has dropped considerably since the project’s first full day of operation on July 13, when $1.98 million worth of NFTs were sold, equivalent to about $44,500 in fees.
The HyperViciouZ project on GameStop is currently the biggest 24-hour sales volume of 29.78 Ether (ETH) worth $47,841. OpenSea’s top-selling project during that time frame is Pudgy Penguins with 860.8 ETH, or $1.37 million.
The economic outlook is even bleaker than before.
As of Monday, the Bored Ape Yacht Club’s (BAYC) floor price has dropped a hefty 19% to 68.48 ETH, or $109,900 from the start of August, according to NFT Price Floor data. Similarly, the Mutant Ape Yacht Club’s (MAYC) floor has declined 28.6% to 11.2 ETH, or $17,986.
The all-time floor price highs for the BAYC and MAYC of 153.5 ETH and 41.2 ETH in May and April have each dropped 55% and 72% respectively since then.
Last week, NFT analysts warned that $55 million worth of blue chip NFTs were at risk of liquidation on BendDAO.
BendDAO’s platform allows users to deposit their NFTs and take ETH loans against the floor price of their assets. Loans account for about 30-40% of the deposited NFT floor price. If the price drops so low that the loan equals 90% of the floor price, the depositor has 48 hours to pay down the loan or else have their NFT sold and liquidated through an auction.
Last week, at least 20 BAYC NFT loans had a health indicator score that fell dangerously close to zero, at 1.01. For Mutant Ape Yacht Club NFTs, the health indicator score has been close to zero on numerous occasions.
Currently, two BAYC NFTs have been liquidated and put up for sale, while 10 are fighting with health indicators ranging from 1.01 to 1.06. However, this is half the number from last week, indicating that the situation has improved.
Currently, 14 MAYC NFT loans are in danger of being liquidated, with health indicators ranging from 1.01 to 1.03. In addition, 13 recently-liquidated and currently-up-for-auction BendDAOs are available.
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The floor price for other leading NFTs such as CryptoPunks has also fallen substantially this month. Despite jumping from 68.3 ETH to 77.4 ETH on Aug. 1, the floor price for CryptoPunks has since fallen back down to 66.45 ETH or $106,518, which is equivalent to $106,518.