Over the past 24 hours, GameStop NFT has made about $166,800 in sales. Since the platform only takes a 2.25 percent cut of NFT sales, this comes out to just $3,753 in revenue.
Since GameStop’s nonfungible token (NFT) marketplace opened in mid-July, daily sales have dropped to less than $4,000. This suggests that interest in the platform has dropped significantly.
Data from DappRadar shows that GameStop NFT has made about $166,800 worth of sales in the last 24 hours. Since the platform only takes 2.25% of NFT sales as a fee, the amount equals just $3,753 in sales during that time.
Only a small amount of information is available from DappRadar about GameStop, but it seems to confirm that trading volume has increased by 91.23% over the past day, bringing the price down to around $2000.
The latest numbers show a big drop from July 13, which was the project’s first full day of business. On that day, NFT sales totaled $1.98 million, which was worth about $44,500 in fees.
At the time this was written, the HyperViciouZ project on GameStop had the most sales in 24 hours: 29.78 Ether (ETH), which is worth about $47,841. Pudgy Penguins, on the other hand, sold 860.8 ETH, or $1.37 million, more than any other project on OpenSea during that time.
GameStop isn’t the only NFT business that is having trouble right now. According to data from NFT Price Floor, the floor price of the Bored Ape Yacht Club (BAYC) has dropped by a big 19% since the beginning of August. As of Aug. 22, the floor price of the Mutant Ape Yacht Club (MAYC) has dropped by 28.6% to 11.2 ETH, or $17,986.
Since May and April, when the BAYC and MAYC hit their all-time high floor prices of 153.5 ETH and 41.2 ETH, respectively, the floors have fallen by 55% and 72%, respectively.
Last week, NFT analysts warned that BendDAO could liquidate blue chip NFTs worth $55 million.
Users can put their NFTs on the BendDAO platform and borrow ETH against the floor price of their assets. The loans add up to about 30–40% of the NFT floor price that was put down. But if the price drops so low that the loan is equal to 90% of the floor price, the depositor has 48 hours to pay down the loan or their NFT will be liquidated and sold at auction.
This threshold is shown on the platform as a health indicator, and if the score falls below one, the NFT liquidation process starts. As of last week, there were at least 20 loans against BAYC NFTs with a health indicator below 1.01. There were also a lot more loans against Mutant Ape Yacht Club NFTs.
As of the time this article was written, two BAYC NFTs had been liquidated and put up for auction, and ten were “playing with fire” with health indicators between 1.01 and 1.06. But that’s only half as many as last week, which suggests that things are getting better.
When it comes to loans against MAYC NFTs, there are 14 that are very close to going bankrupt, with health indicators between 1.01 and 1.03. There are also 13 items on BendDAO that have just been sold and are now up for auction.
So far this month, the floor price for other top NFT projects like CryptoPunks has also dropped quite a bit. Even though the CryptoPunk floor went up from 68.3 ETH on August 1 to 77.4 ETH on August 4, it has since gone back down to 66.45 ETH, or $106,518.