January was a month of growth. But it was mainly for NFT collections. ETH is up about 2% in the past month, but some top NFT collections have grown even more. For example, Nansen NFT-500 and Blue-Chip 10 recorded value increases of 9.35% and 9.76%, respectively.
Current reports note that this is a sign of the NFT market maturing.
One category that reported positive returns in January was social NFTs. This includes the PFP set. The Nansen Social-100 index rose 13%. But other categories were less impressive. This includes Game-50, Art-20, and Metaverse-20 at -7%, -1%, and -11%, respectively. Additionally, the average price of NFTs fell 13% to $107.
Looking at ETH alone, the price of the cryptocurrency fell 1.09% in the last 24 hours, trading at $2,269.61. This reflects an increase of 1.55% over the past 7 days and a decrease of 1.38% over the past 30 days. ETH’s market capitalization and 24-hour trading volume decreased by 1.02% and 8.05%, respectively.
Recently, some NFT collections have been released that have demonstrated substantial increases in value. For example, Crypto Pop Punk’s first major art collection, Rubber, released on Solana had a mint price of $23. At that time, 23 SOL tokens rose to $2,103 in just 24 hours. SOL trading volume also reached a record high of $1.3 million.
Another Solana NFT collection that recently made headlines was that of Mad Lads. The floor price quickly rose above 200 SOL. This has been defined as: amazing achievement.
For reference, SOL is currently down 2.73% over the last 24 hours. The price is $95.94. It is up 7.91% in the last 7 days and down 7.85% in the last 30 days.
It is safe to assume that the NFT market is maturing and investors are looking to consolidate their funds around those that could be clear winners. Some collections achieved positive results, but overall prices fell. This also supports the theory that NFT enthusiasts are no longer driven by hype, but by the potential to make money in the future.
Meanwhile, EA’s CEO hinted that an EA Sports unified metaverse could be coming soon. It revolves around a sports-themed virtual world enjoyed by over 70 million EA players. This is EA’s current user base, who spend an average of 90 minutes playing the game. EA’s CEO said there is a meaningful opportunity to leverage the power of the community it has built over time. More details on this are expected to be released later.