Otherdeed NFT Collection Becomes Quickest to Surpass $1 Billion in All-Time Sales

Despite a plunge in monthly sales volume, Otherdeed continues to reach new milestones with the latest making the non-fungible token the fastest to reach $1 billion in all-time sales. 

Otherdeed has become one of the must-have digital collections since launching on April 30, reaching a total sales volume of around $1.01 billion, according to Be[In]Crypto research. 

The latest metric comes as a massive boost to the NFT sector which has seen decreased investor interest in recent months.

Otherdeed currently trails NBA Top Shot, Art Blocks, Mutant Ape Yacht Club (MAYC), CryptoPunks, Bored Ape Yacht Club (BAYC), and Axie Infinity in ranks of all-time sales volume. However, in its three-month run, its sales have surpassed older projects such as VeeFriends, Meebits, The Sandbox, and Bored Ape Kennel Club.

Source: All-Time NFT Sales Ranking by CryptoSlam

What is Otherdeed? 

Otherdeed NFTs are a dynamic collection containing essential game elements that are part of the Otherside metaverse. Overall, the entire supply cap stands at 100,000.

On the day of its launch, 55,000 parcels of land were put on sale while 45,000 were reserved for Yuga Labs employees/partners and Bored Ape NFT holders.

What contributed to the soaring Otherdeed sales volume? 

When you assess the number of unique buyers from May, the spike in sales volume led to the NFTs soaring total transaction counts, with 20,541 unique buyers, and 42,098 transactions.

By the end of the month, the sales volume of approximately $943.71 million.

Source: May 2022 Monthly Sales Chart by CryptoSlam

Despite the tumble in overall sales volume of digital collectibles and NFT marketplaces in June, Otherdeed saw 3,225 unique buyers which corresponded to 6,646 transactions. By the end of June, sales stood at around $40.55 million.

Source: June 2022 Monthly Sales Chart by CryptoSlam

Although overall NFT volume was down in July, Otherdeed still saw 2,483 unique buyers patronize digital collectibles, and this resulted in 4,633 transactions. Otherdeed sales volume for July was $30.88 million.

Source: July 2022 Monthly Sales Chart by CryptoSlam

The post Otherdeed NFT Collection Becomes Quickest to Surpass $1 Billion in All-Time Sales appeared first on BeInCrypto.

Earning Passive Income With Crypto

Related Posts

Fractional NFT Markets Slide 76% in Value in 7 Months, Diced-up Doge NFT Still Leads the Pack

When non-fungible token (NFT) collectibles became popular, the fractionalized NFT market grew past the $200 million range seven months ago in December 2021. Since then, the fractionalized…

Bored Ape Yacht Club (BAYC) NFT Sales Test New Higher-Low Slipping More Than $290M

Similar to more than 90% of NFTs, BAYC saw a significant reduction in sales volume due to negative market sentiment during the seventh month of the year. …

Crypto Use in Metaverse Could Threaten Financial Stability, Says BoE

The prospective widespread use of cryptocurrencies within a fully developed metaverse could pose a systemic risk to financial stability, according to Bank of England researchers. Were the…

Troubled CoinFLEX Files for Restructuring in Seychelles

On Tuesday, the troubled Cryptocurrency exchange, CoinFlex, filed for restructuring in a Seychelles court to resolve a shortfall due to a counterparty failing to make a margin…

Elon Musk Sells Tesla Shares Worth Nearly $7 Billion — Plans to Buy TSLA Stock Back if Twitter Deal Falls Through

Elon Musk has sold nearly 8 million Tesla shares worth almost $7 billion. “It is important to avoid an emergency sale of Tesla stock” if Twitter forces…

Citadel CEO Ken Griffin Spills Beans on Why He Outbid ConstitutionDAO

Citadel CEO Ken Griffin opens up on what prompted him to outbid ConstitutionDAO last year to obtain a rare copy of the U.S. Constitution. The prized document…