September 10, 2021 - 9 min read
This article breaks down the top 10 fastest growing NFT projects on Opensea based on 7-day sales volume. This includes projects from CryptoPunks to Cryptoadz and everything in between.
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I broke down the top 10 fastest growing NFT projects on Opensea using 7-day sales volume for the week of 9/4–9/10. The NFT market has slowed a bit recently and some are calling out market dips today (9/10), which can seem scary, but we can learn from this.
Two things are important to keep in mind at times like this:
(1) Never spend money you can’t afford to lose — I know, it sucks when the market dips overall and the idea of making life-changing money seems further away, but please protect your downside.
(2) Zoom Out — the overall NFT market is much larger than it was a few months ago. There won’t be record high sales volumes every day, the market just isn’t big enough for that yet, even with blue-chip assets like CryptoPunks. It’s hard to be patient (I’m feeling it now) but if you zoom out, and buy projects with conviction while spending money you can afford to lose, you’ll be able to ride these waves.
Note: This is not financial advice and I am not a financial advisor.
7-day Trading Volume: 21,904.18 ($74.47 million)
Floor Price: 6.19 ETH ($21,046)
Last week, Loot (for Adventurers) was 5th on the list of Top-10 Fastest growing projects, and now, it is ranked 1st based on its 7-day sales volume. However, the floor price has dropped from 16.74 ETH ($65,256) to 6.19 ETH ($21,046). This is a 63% loss.
Keep in mind, Loot was minted for free and is a string of 8 words that can be used to generate other NFT projects. It exploded last week and still has considerable volume despite a drop in floor price.
Anyone who minted or bought early is still looking at significant profits. Those who bought at the top of excitement, afraid of losing out, are now in a tough position.
This is a hard lesson for us all: every project that moons will inevitably experience a dip.
When the mooning starts to slow down, people panic and sell their assets. These are likely people who either spent more than they could afford to lose, want to move on and try to catch the next project, have changed their perspective on the long-term outlook of the project, or minted the assets early and are okay making 6 ETH from their original mint.
I can’t predict the future, so I won’t speculate on where Loot (for Adventurers) go next, but for a project that minted free, it’s done pretty well in the short run it’s been live.
7-day Trading Volume: 12,065.73 ETH ($41 million)
Floor Price: 84.5 ETH ($287,300)
CryptoPunks is a project that’s like going to make this list every week. It was #1 on last week’s list with $293 million in volume with a floor price of 93.88 ETH. The floor dropped 11% in the past week.
If we zoom out, an 84.5 ETH floor is massively higher than the 22 ETH floor after it mooned in February.
CryptoPunks is the flagship NFT project. Created in 2017 by two very smart founders, the project was free to the public.
Bigger names who are buying into NFTs often look to CryptoPunks, and the latest celebrity to buy a CryptoPunk was Jason Derulo:
It’s important to note that even blue-chip projects will experience dips, but most likely they will be smaller. The CryptoPunks floor dipped just 11% while the Loot project dropped by 63%.
7-day Trading Volume: 11,801.64 ($40.12 million)
Floor Price: 33.5 ETH ($113,900)
Bored Ape Yacht Club was ranked 4th in last week’s top 10 fastest growing projects list and had a floor price of 41.98 ETH.
The current floor price of 33.5 ETH represents a 25% dip.
Bored Ape Yacht Club is another project we are likely to see on this list for the foreseeable future. It hasn’t quite reached the heights of CryptoPunks, but assets from the NFT project sold at Sotheby’s and there is a planned auction for Christie’s Auction House on September 17th.
Given that the overall market has been down this week, it’s not surprising to see a 25% dip. It’s more than CryptoPunks but considerably stronger than newcomer projects like Loot.
Established projects will see ebbs and flows, but given the data so far, they are less volatile than newer projects.
7-day Trading Volume: 9,666.72 ($32.86 million)
Floor Price: 0.45 ETH ($1,530)
The Sevens (Official) is a newcomer on this list and is a collection of 7,000 side-profile avatars with references to pop culture:
There was a lot of excitement for this launch but it wasn’t met without some controversy:
One user was able to “hack” the Sevens (Official) contract into purchasing 1,000 NFTs from the project. If you want a full breakdown of how that happened, you can check out the Twitter thread here.
This upset a lot of people, as the general consensus is that mints (pre-sales) are an opportunity for people to buy into a project. One person who controls significant supply can have a significant impact on the market.
While it’s not confirmed, I did see a Tweet that suggested the 1,000 minted tokens were returned to the project’s wallet:
The floor price has fallen a bit with the general market turndown (from 0.5 ETH to .45 ETH).
The project was launched on September 7th at a pre-sale price of .07 ETH.
7-day Trading Volume: 8,501 ETH ($28.9 million)
Floor Price: 0.65 ETH ($2,210)
I broke down The n Project last week because it was another free mint similar to Loot that exploded to a 2 ETH floor in a matter of days.
The project has retreated to 0.65 ETH, which is a 67.5% loss nearly in line with the Loot project retraction.
Personally, I don’t think these price declines are doom and gloom. It’s a clear sign that many are buying assets for a quick profit or panicking in fear of a total market collapse.
The n Project, like Loot, is fascinating because it can be an input for derivative generated art. It is a new concept, and as I’ve written about before, it’s likely to be a boom or bust project.
7-day Trading Volume: 8,363.84 ETH ($28.4 million)
Floor Price: .17 ETH ($578)
Bloot, similar to both The n Project and Loot, is a string of eight words that could be used for derivative NFT projects:
Owners of this project also received 10,000 BGLD coins, which hit a value of $1.10 per coin, but have since come down to $0.366 per coin.
Loot, Bloot, and The n Project are all interesting as holders can gain additional benefits from free NFTs that could appreciate in value and generate passive income from owning the assets.
7-day Trading Volume: 7,470.76 ETH ($25.4 million)
Floor Price: 4.5 ETH ($15,300)
Punks Comic is another project that provides added benefits for owners with two options:
Burn the NFT for a founder’s DAO NFT that would use proceeds from the initial sale (600 ETH) to decide what to do with the money
Stake the NFT for 50% of a $Punks Token, which represents fractional ownership in 16 CryptoPunks that are featured in the comics
This means that holding an asset in the project yields additional benefits, and likely additional earnings through free NFT airdrops, fractional ownership, and more.
7-day Trading Volume: 6,922.6 ($23.5 milllion)
Floor Price: 1.07 ETH ($3,638)
Art Blocks Curated was #3 on last week’s top 10 fastest-growing projects on Opensea. While the floor has dropped 35% in the past week, it remains a top-tier collection of NFT projects that are curated before release. With so many new projects launching, Art Blocks offers validation of ones that meet its criteria to be curated, thus commanding more value on the secondary market.
7-day Trading Volume: 6,494.73 ETH ($22.08 million)
Floor Price: 3.9 ETH ($13,260)
Mutant Ape Yacht Club ranked #2 on last week’s fastest-growing projects. The floor has dropped 22% since last week, which is similar to the Bored Ape Yacht Club dip. The project has 20,000 assets (versus 10,000) as Bored Ape holders were gifted the opportunity to mint their asset + a mutant serum to produce a new asset.
10,000 Mutant Apes were sold to the public at 3 ETH.
7-day Trading Volume: 4,872.50 ETH ($16.56 million)
Floor Price: 0.69 ETH ($2,346)
I bought into CrypToadz at .22 ETH because I saw a lot of chatter in the CryptoPunks Discord about it and they were created by gremplin, for whom many have a lot of respect:
There is no roadmap, it’s just pixelated art of toads:
The assets could have been minted for free and gained steam once the CryptoPunks Discord organically started talking about them and showing off their purchases.
The floor reached nearly 1.1 ETH at peak and has since dropped by 37%.
I don’t recommend buying a project simply because it’s been chatted about in a Discord group, but as mentioned earlier, CryptoPunks and their owners are respected in the NFT community. This project had a pump (which is usually a good time to sell) but it will be interesting to see what happens once things calm down.
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