NFT projects are still going well despite the OpenSea controversy

Monthly trading volume on OpenSea is down from January’s record, but select NFT collections are still showing rising price floors.

Despite some attempts at vampirism, NFTs on OpenSea continue to be strong, with a growing number of unique users and transactions.

However, the total trading volume of the NFT market is down from last month’s value of nearly $3 billion.

While a number of NFT projects are poised to hit the secondary market, the entire sector appears to be taking the next step in terms of utilizing and integrating NFTs into Metaverse. Global political uncertainties are also having a noticeable impact on market conditions.

Ether (ETH) price is down 9% in the last seven days and since most NFT projects are on the Ethereum network, NFT collectors tend to be disinterested and buy NFTs at bargain prices. As for the NFT collection, Azuki has made a significant impact over the past 30 days, amassing over 80,000 Ether ($209,100,216) and driving blue-chip collectibles like the Bored Ape Yacht Club (BAYC) and Crypto Punks from the tip displaced. Similarly, the February 23 launch of Invisible Friends raised over $23.1 million with a reserve price of 8.95 Ether ($22,010.74).

Azuki’s 30-day average price/volume | Source: OpenSea

Not only are new entrants changing collections from the top spots in terms of total volume, older projects are being revived as market conditions cater to shaky conditions.

This is the state of the NFT market right now as we near the end of the first quarter.

3Landers NFT

3Landers surprises the market with its impressive yet captivating appeal, incorporating Doodles meets The Simpsons, rises to number one in terms of total volume and has over 11,000 ethers ($28,666,000 USD) since launching on the secondary market on February 19th ) accumulated.

3Lander’s all-time average trade price/volume | Source: OpenSea

3Landers’ average selling price is up 63% in the last seven days and is one of the few projects with a rising reserve price, currently at 1.55 Ether ($4,056.35).

Founded on the Ethereum blockchain, 3Landers describes itself as a “…NFT project focused on community, adventure, and collaboration.” Perhaps that’s the positivity collectors need in light of recent events.

As a community-centric project, 3Landers will rely on the talent, commitment, and solidarity of the community to lead the scalable project there.

While some NFT projects are community-focused to share values, others are breaking new ground to build digital sovereign states.

NFT worlds

NFT Worlds was built with the Metaverse in mind. Each of the 10,000 NFT worlds are discoverable, unique and buildable. Furthermore, it claims not to be compatible with any game other than Sandbox, Minecraft.

NFT Worlds has seen a spike in growth over the past seven days, hitting a floor price of almost 18 Ether.

NFT Worlds minimum price for 7 days | Source: NFT price floor

In the last 30 days, NFT Worlds has generated over $42.3 million in revenue, half of it in the last seven days alone, $21.3 million.

NFT Worlds 7-Day Avg Price/Volume | Source: OpenSea

NFT Worlds appears to be attracting advocates and developers of decentralized Web 3 and APIs. A digital land with a high entry cost, NFT Worlds is integrating a rental system later this year that will allow owners to rent out their world for a monthly fee of $1.

WRLD is working on the Polygon Network and will have a reward “faucet” for developers who meet the criteria and want to integrate play-to-earn (P2E) games with the token.

It seems that investors are appreciating the open source and interoperability features that bode well for the next phase of Metaverse.

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