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The non-fungible token (NFT) market continues to surprise crypto enthusiasts as new projects like Genuine Undead carve a niche challenging the top projects’ monopoly in the marketplace.
Genuine Undead is a project that saw its floor price shoot up overnight, so what led to this sudden uptick?
The NFT collection was released in Aug as a free mint. The picture-themed (PFP) NFTs have a limited edition of 9,999 and a market cap of 3,898.44 ETH.
Genuine Undead floor price up over 100%
Recent data from Lunar Crush showed that among NFTs that outperformed markets, Genuine Undead took the lead with a major pump in floor price, social mentions, and social engagements.
While the floor price shot up by almost 104.2%, social mentions rose by 47.47%, and social engagements were up by 31.16%.
A month back, Genuine Undead NFTs were selling at $365. However, at press time the collection’s price had rocketed to as high as $521.43, charting an all-time high floor price.
What’s all the hype about?
The pixel art collection was released by an anonymous artist as who described it as a “24×24 pixel art collection like you have never seen.” The Genuine Undead collection includes 5,995 classics, 3,996 cyberpunk, eight legendaries, and over 200 hand-drawn traits.
With a market cap of 3,898.44 ETH or $5.19 million, the collection had around 2,488 owners at press time. Notably, the project’s market capitalization saw a close to 70% rise in just one day as the floor price picked up.
Furthermore, the NFTs’ 24-hour volume at press time was around 223.48 ETH or $297,749.
Data from Crypto Slam showed that over the last seven-days Genuine Undead saw a healthy rise in sales, active wallets, total users, buyers, and sellers, as seen below. Active wallets rose by 7%, while the total number of owners noted a 13% uptick.
One of the reasons behind this recent uptick in floor price was the recognition by OpenSea that the collection received recently.
In addition to that, regular giveaways and social media interactions have acted in favor of the project’s trajectory.