If you’ve been following the crypto markets, its no surprise that NFTs have been all the rage this year.
(Speaking of following, don’t forget to follow our new twitter account @SavageDrops :)
CryptoPunks, Bored Ape Yacht Club, Cool Cats, VeeFriends, Pudgy Penguins… some of these NFTs are selling for unimaginable amounts of money, partially thanks to the adoption by athletes, singers and celebreties.
New millionaires are being minted on a daily basis just by being early or by being part of the minting process for some of these new drops. Have you grabbed any drops yet?
At the end of August, OpenSea, one of the largest NFT peer-to-peer marketplaces was seeing $500 million dollars of daily NFT trading volume, at times.
However, September has not been as wild.
According to Alex Thorn, from Galaxy Digital, NFT daily trading volume has continuously declined every day after the start of September. In fact, over the last few days, trading volume has not even surpassed $100MM.
So what does this all mean?
Is the NFT hype-cycle coming to an end? Should you sell all your Apes, Unicorns, and Bored Gambling Gutter Ducks? 😂
That’s up to you (not financial advice), but…
We do believe NFTs are at their infancy. Markets move in waves and go through cycles, but NFTs are here to stay.
Aside from digital art, collectables, music, etc… there are so many brilliant, undiscovered use cases that will ultimately change the way we do and interact with things.
We’re excited about the future of NFTs! Are you?
NFT Spotlight
We’re on the hunt for the next big NFT drop. 🚀
Have a fav project with a great community, leadership, and a solid roadmap? Let us know what you’d like to see featured next or drop us some of your art and maybe we’ll give you some exposure. :)
Yesterday’s Top NFTrades
(by volume)
Check out the trading volume compared to yesterday. 📉
Sneaky Vampire Syndicate
24H Vol: 1,430 ETH
Floor: 0.745 ETHCyberKongz
24H Vol: 608 ETH
Floor: 4.65 ETHBored Ape Yacht Club
24H Vol: 517 ETH
Floor: 34.99 ETH
Stay tuned,