Sales Trends

So what NFTs are selling? As innovators are flooding this space with a variety of different tokens, close to 90% are worth nothing more than your typical JPEG file. Let’s take a look at a few fads that have been extremely successful – arguably The Bored Ape Boat Club has seen the highest sell rates of any NFT in history with many celebrities and influencers quickly adopting and promoting this token. Owning one of these tokens allows the user to be in an exclusive desirable club of quote “bored millionaires”; however, this is nothing more than artificial adoption as the demand is driven purely by an idea of being in an inclusive club.

NFT’s are very abstract. When we look at Doodles, Art Blocks, Mfers, or Infinite Realm we notice very colorful images that are reminiscent of great works of arts or spark childhood nostalgia for millennials. As humans, we subconsciously pause on an image that sparks an emotional connection, leaving them more likely to pull the trigger and buy it. On the other hand, Gen Z has grown up at the dawn of the digital age so game tokens or images of their favorite characters are one way of infiltrating this demographic.

Fluf World and CyberKongz mimic Bored Ape. Just as we saw the rise of altcoins in the crypto space that are heavily tied to bitcoin movements, the same fads can be seen here. Familiarity sells and one way is by going off what has already seen success.

A Singapore based influencer Irene Zhao has generated S$7.5 million in 10 days by minting and selling NFT’s with the likes of Jake Paul buying significant amounts of Irene’s tokens – which brings me on to the next point YouTube and Digital Media allows for mass exposure for NFT vendors.