Since the platform only takes 2.25 percent of NFT sales, GameStop NFT’s $3,753 in sales over the past 24 hours only brought in $166,800, which is not much.
Since it opened in mid-July, GameStop’s nonfungible token (NFT) marketplace has seen its daily income drop to about $4,000.
DappRadar says that GameStop NFT made almost $166,800 in revenue in the last day. Since only 2.25 percent of NFT sales go to the platform, this only brings in $3,753.
Over the past day, the number of trades for GameStop has gone up by 91.23%. The little market data we have from DappRadar suggests that this means the price has dropped to around $2000.
When compared to the project’s first full day of operation on July 13, when NFT sales volume was $1.98 million and fees were about $44,500, the most recent numbers show a big drop.
At the time of this writing, HyperViciouZ, a project by GameStop, had the most sales in 24 hours, totaling 29.78 Ether (ETH), which is about $47,841. During that time, the project that sold the most was Pudgy Penguins, which brought in $1.37 million.
Bad news, in general
GameStop isn’t the only company in the NFT industry that’s having trouble right now, though. According to data from NFT Price Floor, the Bored Ape Yacht Club (BAYC) floor price has dropped by more than 20% since August 1 to 68.48 ETH, or $109,900, as of Monday. The Mutant Ape Yacht Club (MAYC) floor price has dropped by nearly 30% to 11.2 ETH, or $17,986.
From their all-time highs in May (153.5 ETH) and April, respectively, the floor prices of the BAYC and MAYC have dropped by more than half (55%) and more than three quarters (72%), respectively.
Last week, experts on the NFT market said that BendDAO might have to sell blue chip NFTs worth $55 million.
Customers can put their NFTs on the BendDAO platform to get ETH based on the value of their assets. The amount borrowed is around 30%-40% of the NFT floor price that has been deposited. To avoid having their NFT liquidated and sold at auction if the price decreases to the point where the loan equals 90% of the floor price, depositors have 48 hours to pay off the debt.
Indicated on the platform as a “health” score below which the NFT is liquidated, this level marks a critical point below which the platform shuts down. The health indicator for at least 20 loans secured by BAYC NFTs has dropped dangerously low, below 1.01, in the last week; for Mutant Ape Yacht Club NFTs, the number is even higher.
As of this writing, two BAYC NFTs have been liquidated and placed up for auction this week, and ten more are dangerously close to doing so, with health indices ranging from 1.01 to 1.06. That’s still twice as many as we saw a week ago, but it seems to be improving.
There are now 14 loans against MAYC NFTs that are in imminent risk of liquidation, with health indices between 1.01 and 1.03. There are now 13 liquidated assets being auctioned off on BendDAO.
Since the beginning of the month, the floor price of other leading NFT projects like CryptoPunks has dropped significantly. The CryptoPunk floor retreated from a high of 77.4 ETH on August 4 to its current level of 66.45 ETH, or $106,518 on August 5.
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