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A Top NFT Project Sees More Than USD 115M in Sales in One Week

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Sead Fadilpašić

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Sead Fadilpašić

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Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...

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Last updated:

June 26, 2023

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Four non-fungible token (NFT) projects stood out since their very recent launches: 0N1 Force, CyberKongz, Generativemasks, and Pudgy Penguins, per the latest report by data aggregator and analysis firm DappRadar. The first three have all been launched in August, while the last one was launched in the second half of July – all already recording significant results.

The 0N1 Force has seen one of the best starts of any NFT project, said the report, with all metrics looking “very solid.” In just seven days of existence, the collection generated over some USD 115.3m in total sales volumes, “a number that most of the collections have not even reached in several months.”

At the time of the report, its floor market (the floor price is the lowest price for collection items) capitalization is USD 92.4m, the highest sale – USD 622,835, the total volume – USD 115.34m, and the number of traders is 13,344.

The demand for 0N1 has spiked, reaching 3,987 unique owners, “making it one of the most distributed collections in the space.”

But while the demand is on the rise, the project may be heading towards a consolidation period. Still, it “has all the traits to become a top NFT collection going forward.”

The CyberKongz (VX) project has generated more than USD 30.9m in two weeks, reaching more than 2,800 unique owners. Early investors are at least 1,114% up from the minting price, said the report.

Floor market capitalization is USD 35m, the highest sale – USD 389,606, total volume – nearly USD 31m, with 9,594 traders.

One of its strengths is the utility – “something that is always an advantage in the NFT space.” The project now seems consolidated, the demand is clearly in place, and when their Banana Shop is fully functioning, “the main metrics may spike again.”

“The biggest drawback is the high concentration, however, it is probable that owners will profit in the upcoming weeks,” per the report.

Generativemasks is “a groundbreaking collection,” said DappRadar. The project has generated more than USD 10.7m in total sales volume since the launch. The floor price hasn’t seen a drastic increase, but early investors are at least 150% in the profit range.

Floor market capitalization is USD 7.92m, the highest sale is USD 9,054, total volume – USD 10.7m, with 7,696 traders.

While the generated volumes aren’t massive, “the demand is there.” It’s also a well-distributed project, with only 343 pieces held by the top 5 wallets. It’s also attracting both Larva Labs investors and Parallel Alpha owners.

The main concern is that the utility may disappear once the masks can be worn in a metaverse.

The Pudgy Penguins generated USD 97.6m in five weeks in total sales volume with almost 25% happening in the last 7 days, and it has been one of the most traded collections in August. It has an established community, and the project reached mainstream media.

“Due to their low mint price, early investors are at least 11,733% above the initial cost,” said the report.

Floor market capitalization is USD 99.96m, the highest sale – USD 458,752, total volume – USD 97.6m, and the number of traders – 23,326.

Its strength is the high distribution level – Pudgy Penguins are owned by 4,547 unique owners, “clearing all questions regarding a potential manipulation risk.” Also, the demand keeps rising, continually pushing the floor price upwards.

However, the concerns include the storage process, described as “far from ideal in the NFT space,” as well as the lack of a clear roadmap. “If the team can improve those aspects, we’ll continue seeing the Penguins atop the NFT rankings in the upcoming months,” per DappRadar.