Despite the downswing in the NFT and crypto markets, popular NFT collection CryptoPunks sees an uptrend in its sales as its floor prices surge to $100K after two months while Azuki sees a significant plunge in sales.
The total sales for CryptoPunks last week were over $25.3M, surpassing the likes of its competitor BAYC whose sales were slightly over $12.4M.
This sudden rise in its pricing can be attributed to two significant sales of CryptoPunks NFTs that feature rare ape-like traits: CryptoPunk #4464 was sold for 2500 ETH ($2.6M) on July 13, while CryptoPunk #4156 was traded for 2691 ETH ($3.3M) on July 15.
As a result, the price of the cheapest CryptoPunks NFT rose to 83.55 ETH.
Meanwhile, the Azuki Collection, a collection of 10,000 NFTs that give their owners access to The Garden, hasn’t risen much above its 2022 low, with its floor price still hovering in the $17K price range.
The drop in sales was caused by a decrease in unique buyers and low transaction count, with only 837 transactions in June, as compared to over 18,000 transactions during Azuki's first month on the metaverse.
The sales of the Azuki series remain in a slump even after the Azuki team revealed that holders of the NFT would be able to redeem their tokens for a physical item starting July 19. Users who redeem their NFT for an Azuki Twin Tigers jacket will have their NFT turn red, representing the reversible colorway design of the said jacket.