NFT

One billion a day! OpenSea's monthly transactions approach nearly 3 billion, Bored Ape makes another move: airdropping mutant serum.

share
One billion a day! OpenSea

August has been an extremely crazy month for the NFT market. It started with CryptoPunks leading the way, and the trading volume and average prices of many NFT projects have multiplied several times. In addition, celebrities, institutions, and well-known companies have also joined the ranks of buying NFTs. This frenzy in the NFT market seems far from over.

NFT Market Trading Volume Surges

Currently, the majority of NFT trades in the market are happening on Ethereum. According to data from Dune Analytics, over 90% of these transactions are through OpenSea, which can be said to dominate the NFT market completely. In terms of monthly trading volume, the platform saw around $325 million in trades last month, but in August, it surged to $2.97 billion, a whopping 9-fold increase.

Bored Ape Yacht Club Launches New Series

The high trading volume is not only due to market speculation and celebrity influence but also because of the continuous introduction of interesting NFT projects. The well-known NFT project, Bored Ape Yacht Club, released a new series called Mutant Apes over the weekend (28th), selling 10,000 NFTs named Mutant Apes, a mutation of the original Bored Ape series, priced at 3 ETH (approximately $10,000) each. The project raised a total of $96 million on Saturday night.

Additionally, holders of Bored Ape tokens were airdropped mutation serums on that day, consisting of three types: M1, M2, and Mega Mutant (M3). Injecting their original Bored Ape with M1 or M2 serum will create a new Mutant Ape with the original features, while injecting Mega Mutant (M3) will generate a completely different and rarer Mutant Ape. Among all airdropped serums, only 8 Mega Mutant (M3) exist.

The airdrop is significant for Bored Ape holders as they can retain their original NFT while creating these additional highly valuable NFTs. One lucky recipient of the Mega Mutant (M3) serum expressed on their Twitter:

I don't know which series it belongs to, but because it was free, I express my gratitude here. Thank you, this is one of the best days I've had since entering the NFT market.

According to OpenSea data, Mutant Apes have generated 43,852 ETH (approximately $138 million) in trading volume since their launch, with the average price of a single Mutant Ape reaching 7.5 ETH (around $24,000).

Throughout August, there have been different news and new projects stimulating the NFT market almost daily. In just two days last weekend, OpenSea generated a whopping $500 million in trading volume. September also saw two NFT auctions hosted by renowned auction houses Sotheby’s and Christie’s, indicating that this NFT craze will continue for some time.

NFT