Key Takeaways

Upstart NFT marketplace LooksRare challenges OpenSea’s dominance, transacting over $1B in sales volume within a week after debuting. It aims to compete with OpenSea by offering trading rewards to incentivise customers. However, reports suggest that some traders are manipulating LooksRare’s token-based rewards system via wash trading. This brings the long-term sustainability of its model to question
Celebrity American boxer Mike Tyson goes ‘all in on NFTs’ on Solana. In a tweet, the legendary boxer also attached a Catalina Whale NFT issued on top of the Solana blockchain.
Gap jumps into NFTs with an exclusive physical hoodie available. The collection, dubbed ‘Gap Threads’, will be powered by Tezos.
OpenSea’s record-high daily volume is $261M on 16 January 2022. The platform surpassed $3.5B in monthly Ether trading volume, setting new all-time high. OpenSea recorded a +150% increase in sales and a -2% increase in transactions. NBA Top Shot recorded a -2% increase in sales and a +36% increase in transactions.

Crypto.com NFT in the Spotlight

Lega Serie A is the first football league entering the NFT world on the occasion of the TIMVision Cup 2021. It presents another historical drop, celebrating the 2022 ‘Supercoppa FRECCIAROSSA’, played between FC Inter and Juventus Football Club on 12 January 2022.
William Black is known for his music which transports the listener into a world of emotional nostalgia. His character, the ‘Shadow Boy’, is meant to be a generic placeholder for each of us, one who goes through many different visual and auditory representations of our strongest feelings.
Gian Galang is an NYC–based artist and illustrator, who created artwork for clients including the UFC, Nike, Reebok, ESPN, HBO, etc. ‘Flying Sword’ is Gian Galang’s genesis NFT collection showcasing the martial art of Wushu, featuring three ‘moving paintings’ and three traditional full-color paintings.

Highlights

Transaction Volume Benchmark

Platform	Total Volume USD	Total Volume WoW (%)	Transaction Count #	Transaction Count WoW (%)	Avg. Price USD	Avg. Price WoW (%)
Opensea	$899,317,824	+150%	659,137	-2%	$1,364	+157.60%
NBA Top Shot	$13,353,398	-2%	1,315,077	+36%	$10	-28.3%
Solana	$4,431,266	-20%	14,488	+4%	$305	-24%
Nifty Gateway	$3,224,109	+72%	2,524	+68%	$1,277	+2%
MakersPlace	$144,716	+12%	80	+8%	$1,809	+3%
LooksRare	$3,906,062,202	–	14,479	–	$269,774	–

* Week-on-Week (WoW) % change is calculated based on the differences between two subsequent 7-day periods
* Transaction count refers to the number of traders of the 7-day period
* LooksRare launched since 10 January

* OpenSea and NBA Top Shot data from DappRadar
* MakersPlace data from NonFungible.com
* Solanart data from Solanart.io
* Nifty Gateway data from data mining in Cryptoartpulse.com
* LooksRare data from Dune Analytics

Top Collectibles

Project Name	Sales (USD)	Transaction Count	Number of Buyers
Meebits	$2,034,662,740	2,206	441
Loot	$300,176,807	747	139
CryptoPhunksV2	$245,328,141	375	149
OxyaOriginProject	$80,072,971	3,683	1,942
Bored Ape Yacht Club	$45,991,125	151	124

* Collectibles data from CryptoSlam.io

The following chart shows selected top NFTs and their historical floor prices.

Top Artists

Platform	Artist	Sales Volume (USD)
Crypto.com NFT	Crypto.com	$4,000,000+
Solanart	Degenerate Ape Academy	$854,725
OpenSea	Azuki	$42,968,586

19 Jan 2022|MARKET UPDATES

Crypto.com NFT Weekly Update (Week 2, 12/1/2022-18/1/2022)

OpenSea breaks daily sales volume record at $261M. Lega Serie A – first football league to enter NFT world.

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