Followin' the NFT ecosystem highlights of the week brought to you by NFTScan, the NFT infrastructure.
Period: 2024.02.03~ 2024.02.09
NFT Hot News
01/ Upbit Launches NFT New Year Challenge Event
On February 4, Upbit will hold an NFT New Year Challenge event from February 3 to February 17, 2025. During the event, participants can enjoy transaction fee rebates by trading Ethereum and Polygon-based NFTs, and can receive rewards up to 0.5ETH. New supported NFT collections include Azuki, BEANZOfficial, and more. The event rewards will be paid in ETH, and a 22% tax will be deducted for amounts exceeding 50,000 KRW. (This news flash was generated with AI assistance)
02/Crypto Czar: Viewing NFTs and Memecoins as "Collectibles", Not Securities or Commodities
On February 5, according to Cointelegraph, David Sacks, the AI and cryptocurrency "Czar" appointed by former US President Trump, stated that he views NFTs and Memecoins as "collectibles" rather than securities or commodities. Collectibles have different tax procedures compared to securities and commodities.
03/ NFT Sales Totaled Approximately $677 Million in January, Down 23.84% Month-over-Month
On February 5, data from 23 blockchain-based NFT sales showed that in January 2025, NFT sales totaled approximately $677 million, a 23.84% decrease from $889 million in December. Among these sales, Ethereum-based NFT sales accounted for 49.97%, about $338 million, ranking first. Bitcoin-based NFT sales accounted for 17.15%, about $116 million, ranking second. This was followed by Solana ($80.72 million), Mythos ($34.92 million), Immutable ($32.32 million), and Polygon ($24.95 million).
04/ MegaETH Launches NFT Series The Fluffle at 1 ETH
On February 5, MegaETH announced the launch of its flagship NFT series The Fluffle, with a total of 10,000 pieces using a soulbound mechanism, representing ownership of the MegaETH network. MegaETH stated that this NFT series will avoid the speculation and farming behavior that traditional loyalty programs or airdrops may cause, and is committed to long-term value creation. Each NFT is priced at 1 ETH, representing at least 5% ownership of the MegaETH network with a dynamic adjustment mechanism. MegaETH adopts soulbound NFTs to avoid KYC requirements, prevent Sybil attacks, and comply with anti-money laundering (AML) standards. Additionally, MegaETH team members will not hold this NFT series.
05 / Pudgy Penguins Burns 12.16 Billion Unclaimed PENGU Airdrop, Worth About $150 Million
On February 5, the NFT project Pudgy Penguins stated that the PENGU airdrop claim has ended, and the 13.69% of the total supply that was unclaimed, approximately 12.16 billion PENGU (currently worth about $150 million), has been burned.
06 /Berachain Releases Airdrop Query Portal and Discloses Token Economics
On February 6, the Berachain Foundation tweeted that it has launched an airdrop query portal and disclosed the token economics. The total supply of BERA tokens is 500 million, of which 16.8% will be allocated to initial core contributors; 34.3% to investors; 15.8% for community airdrops (see attached image for details); 13.1% for future community incentives; and 20% for the ecosystem and R&D. After 1 year, 1/6 of the allocated tokens will be unlocked, with the remaining 5/6 linearly unlocked over the following 24 months. Additionally, NFT claims will open today, and social and RFB claims will start on February 10.
07/ Berachain Mainnet Launched, Bera NFT Airdrop Now Open for Claim
On February 6, the Berachain Foundation announced the launch of the Berachain mainnet, and the Bera NFT airdrop is now open for claim, with holders needing to cross-chain their NFTs from Ethereum to Berachain.
08/Sony L2 Project Soneium Partners with Coop Records to Release Music NFT Collection
On February 7, according to Decrypt, Sony's L2 project Soneium has partnered with Coop Records to release a music NFT collection. The collection is hosted on Soneium's NFT marketplace Sonova, priced at 0.000777 ETH ($2.11), and minting will continue until the end of this month, with approximately 124 of the 999,999 NFTs minted so far.
09/US Lawmakers Aim to Include Legal Protections for NFTs in Revised Crypto Bill
On February 7, two US Congress members are pushing to include legal protections for NFTs in a broad-ranging bill that would create a more reasonable regulatory framework for digital assets. Representative William Timmons stated that he is trying to incorporate the "NFT Act" into a revised version of the so-called "21st Century Financial Innovation and Technology Act" (FIT21), which passed the House last year but has not yet been approved by the Senate.
10/ Berachain Foundation: Phase 2 of Airdrop to Open for Claim on February 11
On February 9, the Berachain Foundation announced that Phase 2 of the Berachain airdrop will open for claim on February 11. The airdrop recipients include: the top X (10) active users and Discord users (Berachain + Bong Bear NFT server); RFB plan participants (applicants and community members). Airdrop recipients must register their wallets by 12:59 PM on February 10 to receive the allocation. The tokens will be available for claim starting February 11.
NFT on-chain data
01\ Overview of Multi-Chain NFT Data
As of February 10, 2024, NFTScan currently supports 26 mainstream blockchain networks: Bitcoin, Ethereum, BNBChain, Polygon, Solana, Mint, Avalanche, Arbitrum, Optimism, zkSync, Sei, Starknet, Aptos, Mantle, Linea, Base, TON, Blast, Gravity, Scroll, Viction, Fantom, Moonbeam, PlatON, Cronos, and has generated:
NFT Contract Quantity: 5,524,128
NFT Asset Quantity: 2,713,486,447
NFT On-Chain Record Quantity: 8,838,468,930
NFT Total Market Value: $25,408,317,977
NFT Total Historical Trading Volume: $110,310,904,254
02\NFT Trading Market Trends
This week: Blur dominates the market, with overall trading volume peaking on February 6, reaching around $10.58 million at 0:00 AM. NFTScan has recorded 233 trading markets with a 7-day total trading volume of $89.6 million. This week, Blur ranked first in trading volume, with a stable market distribution. The top six trading markets and their market share are:
Blur: $38,164,544 (42.58%)
OpenSea: $24,633,245 (27.44%)
Element: $5,961,763 (6.65%)
CryptoPunks: $5,353,170 (5.97%)
MagicEden: $4,531,058 (5.05%)
Fragment: $2,247,609 (2.50%)
03\Trends of Top NFT Blue Chips
The current total market value of 19 blue-chip contracts is 794,976 ETH, accounting for 22.50% of the total NFT market value.
This week: The total trading volume of blue-chip NFTs was 12.47k ETH, and the total market trading volume was 30.11k ETH, peaking at around 3,246 ETH on February 3 at 00:00.
04\TOP 10 Wallets
NFTScan has analyzed the top 1000 NFT holding value wallet addresses, and the current top 10 are as follows:
Top1 Wallet:
0xab14624691d0d1b62f9797368104ef1f8c20df83
This wallet address holds 4,815 NFTs (including 3 NFT Collections), with a current holding value of 64,785 ETH ($170,698,109.4) and 7,459 interactions.
05\Non-Fungible Token (NFT) Project Ranking
The top 10 most popular and highest-trading NFT projects on the Ethereum mainnet are as follows:
This week, Pudgy Penguins ranked first, with the floor price stabilizing at around 9.9297e last week, and a 7-day trading volume of 3,799e; Azuki ranked second with a trading volume of 2,530e, and the current floor price is 3.0895e; Bit Bears ranked third with a trading volume of 2,106e, and the current floor price is 4.5e; the overall market trading volume and floor prices of most blue-chip NFTs have shown a downward trend.
06\Hot NFT Express
The hot NFT this week is the Bit Bears series:
Data shows that the current floor price is stable at 4.5 ETH, the highest transaction price is 9.88 ETH, and the total trading volume on Ethereum has exceeded 14.2k ETH. Over the past 7 days, the trading distribution is mainly Blur: 1.6K (82.18%); OpenSea: 347.14 (17.82%) in ETH, with a total of 185 trading transactions.
