Globally, the Bored Ape Yacht Club Still Dominates NFT

Non-fungible tokens are again gaining pace after the recently released Ordinals protocol on Bitcoin. February 2023 proved fruitful for some NFT collections like Otherdeeds by Otherside, Moonbirds, Pudgy Penguins, and more. Bored Ape Yacht Club (BAYC) sales didn’t turn negative but weren’t eye catchy either. However, it did witness an increase in the number of buyers and sellers on the network.

Otherside May Surpass BAYC Upon The Release

According to CryptoSlam, an NFT data aggregator, Doodles remained the highest gainer among the top 10 collections, with a 91.01% increase in the trade volume. Though BAYC rose by a minor 4.74%, it still holds the hill, considering it generated $69.3 Million in sales.

Yuga Labs’ Dookey Dash went downhill as Sewer Pass NFT plunged by 27.58% in a month. Mutant Ape Yacht Club (MAYC), the sister NFTs of BAYC, had similar results as their sales declined by 36.66%. Recently, Mongraal, a YouTube personality, made it to the top of the Dookey Dash leaderboard and sold the winning key for $1.6 Million, making it the highest-grossing asset in a month.

Bored Ape sales on OpenSea, the biggest NFT marketplace, have risen by 184% in the last 30 days. The collection holds a floor price of 71.25 ETH ($117,277) at the publication time. BendDAO, an NFT-based liquidity pool, holds the lion’s share of the collection.

Otherside, a metaverse game based on the BAYC ecosystem remains the most anticipated release for the users. Yuga Labs have hinted at a ‘Second Trip’ and the official release this year. Though it is not clear at what point they will launch the game. If the company successfully attracts a large user base on the network, it may surpass Bored Ape Yacht Club as its top project.

Ethereum holds the crown for the top NFT ecosystem with $909 Million in sales. Meanwhile, Solana saw a 46.35% decline in a month. However, the network saw a whopping 23,425% and 18,813% increase in buyers and sellers, respectively. Other blockchains, including Flow, Ronin, Avalanche, Tezos, and more, plummeted throughout the month.

CryptoSlam data shows that BAYC remains the top NFT collection on the Ethereum blockchain, with $1.2 Million in sales volume. Meanwhile, y00ts and DeGens are dominating the Solana ecosystem. The massive increase in the network also points toward the recent outage.

Coin Market Cap data shows the global NFT market plunged by 2.85%; meanwhile, trading volume rose by 1.93% in the past 24 hours. 

Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.