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Otherdeed NFT Collection Becomes Quickest to Surpass $1 Billion in All-Time Sales

source-logo  beincrypto.com 01 August 2022 10:05, UTC

Despite a plunge in monthly sales volume, Otherdeed continues to reach new milestones with the latest making the non-fungible token the fastest to reach $1 billion in all-time sales. 

Otherdeed has become one of the must-have digital collections since launching on April 30, reaching a total sales volume of around $1.01 billion, according to Be[In]Crypto research. 

The latest metric comes as a massive boost to the NFT sector which has seen decreased investor interest in recent months.

Otherdeed currently trails NBA Top Shot, Art Blocks, Mutant Ape Yacht Club (MAYC), CryptoPunks, Bored Ape Yacht Club (BAYC), and Axie Infinity in ranks of all-time sales volume. However, in its three-month run, its sales have surpassed older projects such as VeeFriends, Meebits, The Sandbox, and Bored Ape Kennel Club.

Source: All-Time NFT Sales Ranking by CryptoSlam

What is Otherdeed? 

Otherdeed NFTs are a dynamic collection containing essential game elements that are part of the Otherside metaverse. Overall, the entire supply cap stands at 100,000.

On the day of its launch, 55,000 parcels of land were put on sale while 45,000 were reserved for Yuga Labs employees/partners and Bored Ape NFT holders.

What contributed to the soaring Otherdeed sales volume? 

When you assess the number of unique buyers from May, the spike in sales volume led to the NFTs soaring total transaction counts, with 20,541 unique buyers, and 42,098 transactions.

By the end of the month, the sales volume of approximately $943.71 million.

Source: May 2022 Monthly Sales Chart by CryptoSlam

Despite the tumble in overall sales volume of digital collectibles and NFT marketplaces in June, Otherdeed saw 3,225 unique buyers which corresponded to 6,646 transactions. By the end of June, sales stood at around $40.55 million.

Source: June 2022 Monthly Sales Chart by CryptoSlam

Although overall NFT volume was down in July, Otherdeed still saw 2,483 unique buyers patronize digital collectibles, and this resulted in 4,633 transactions. Otherdeed sales volume for July was $30.88 million.

Source: July 2022 Monthly Sales Chart by CryptoSlam