Welcome to the weekly summary of hot NFT ecosystem events produced by NFT infrastructure NFTScan.
Period: 2024.02.03~2024.02.09
NFT Hot News
01/ Upbit launches NFT New Year Challenge
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 placing orders for Ethereum and Polygon-based NFTs, and can receive a maximum reward of 0.5 ETH. Newly supported NFT collections include Azuki, BEANZOfficial, etc. The event bonus will be issued in the form of ETH, and a 22% tax will be deducted for the portion exceeding 50,000 won. (This newsletter is generated by AI)
02/Crypto Tsar: Treat NFTs and Memecoins as "collectibles" rather than securities or commodities
On February 5, Cointelegraph reported that David Sacks, the artificial intelligence and cryptocurrency "Czar" appointed by US President Trump, said that he regards NFT and Memecoins as "collections" rather than securities or commodities. Collectibles have different tax procedures than securities and commodities.
03/ NFT sales in January totaled approximately $677 million, a decrease of 23.84% from the previous month
On February 5, NFT sales data on 23 blockchains showed that NFT sales in January 2025 totaled approximately $677 million, a decrease of 23.84% from $889 million in December last year. Among these sales, NFT sales on the Ethereum chain accounted for 49.97%, or approximately $338 million, ranking first. NFT sales on the Bitcoin chain accounted for 17.15%, or approximately $116 million, ranking second. Next is Solana ($80.72 million), Mythos ($34.92 million), Immutable ($32.32 million), and Polygon ($24.95 million).
04/ MegaETH launches NFT series The Fluffle, priced 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 to represent ownership of the MegaETH network. MegaETH said that this series of NFTs will avoid speculation and farming behaviors that may be triggered by traditional points programs or airdrop mechanisms, and is committed to long-term value creation. Each NFT is priced at 1 ETH, representing a total of at least 5% of the ownership of the MegaETH network, and has a dynamic adjustment mechanism. MegaETH uses soulbound NFTs to avoid KYC requirements, while preventing Sybil Attacks and complying with anti-money laundering (AML) standards. In addition, MegaETH team members will not hold this series of NFTs.
05/ Pudgy Penguins destroyed 12.16 billion unclaimed PENGU airdrops, worth about $150 million
On February 5, the NFT project Pudgy Penguins stated that the PENGU airdrop application has ended, and 13.69% of the total supply of unclaimed PENGU tokens have been destroyed, about 12.16 billion PENGU (currently worth about US$150 million).
06/Berachain launches airdrop query portal and announces token economics
On February 6, the Berachain Foundation tweeted that it has launched an airdrop query portal and announced token economics. The total number of BERA tokens is 500 million, of which 16.8% will be allocated to initial core contributors; 34.3% will be allocated to investors; 15.8% will be allocated for community airdrops (see the attached picture for details); 13.1% will be allocated for future community incentives; and 20% will be allocated to the ecosystem and R&D. After 1 year, 1/6 of the allocated tokens will be unlocked; the remaining 5/6 of the tokens will be unlocked linearly over the next 24 months. In addition, NFT claims will be open today, and social and RFB claims will be open on February 10.
07/ Berachain mainnet is launched, Bera NFT airdrop is now available
On February 6, the Berachain Foundation announced the launch of the Berachain mainnet. The Bera NFT airdrop is now open for collection. Holders need to cross-chain their NFTs from Ethereum to Berachain.
08/Sony L2 project Soneium cooperates with Coop Records to release music NFT collection
On February 7, Decrypt reported that Sony's L2 project Soneium and Coop Records have collaborated to release a music NFT collection. The collection is hosted on Soneium's NFT market Sonova, priced at 0.000777 ETH ($2.11), and minting will continue until the end of this month. Currently, about 124 of the 999,999 NFTs have been minted.
09/US lawmakers intend to include legal protection for NFTs in the revised crypto bill
On February 7, two U.S. congressmen are pushing to include legal protection for NFTs in a broad bill that will create a more reasonable regulatory framework for digital assets. Congressman William Timmons said he is trying to include the New Frontiers in Technology Act (NFT Act) in a revised version of the so-called 21st Century Financial Innovation and Technology Act (FIT21), which was passed by the House of Representatives last year but has not yet been approved by the Senate.
10/ Berachain Foundation: Airdrop Part 2 will be available on February 11th
On February 9, the Berachain Foundation announced that the second part of the Berachain airdrop will be available on February 11. The airdrop recipients include: the top X (10) active users and Discord users (Berachain + Bong Bear NFT server); RFB program participants (applicants and community members). Airdrop recipients must register their wallet before 12:59 noon on February 10 to receive the allocation. Tokens will be available for collection on February 11.
NFT on-chain data
01\ NFT multi-chain data overview
As of February 10, 2024, NFTScan currently supports 26 mainstream blockchain networks including Bitcoin, Ethereum, BNBChain, Polygon, Solana, Mint, Avalanche, Arbitrum, Optimism, zkSync, Sei, Starknet, Aptos, Mantle, Linea, Base, TON, Blast, Gravity, Scroll, Viction, Fantom, Moonbeam, PlatON, and Cronos, generating a total of:
Number of NFT contracts: 5,524,128
Number of NFT assets: 2,713,486,447
Number of NFT on-chain records: 8,838,468,930
Total NFT asset market value: $25,408,317,977
NFT historical total transaction volume: $110,310,904,254
02\NFT Trading Market Trends
This week: Blur dominated the market, with the overall transaction volume reaching its highest point on February 6. At 0:00, the Blur market reached a maximum of about $10.58 million. NFTScan recorded 233 trading markets with a total transaction volume of $89.6m in 7 days. This week, Blur's transaction volume ranked first, and the market transaction volume distribution was relatively stable. The top six trading markets and their distribution ratios are as follows:
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\Top NFT Blue Chip Trends
The current total market value of the 19 blue-chip contracts is 794,976 ETH, accounting for 22.50% of the total NFT market value.
This week: The total transaction volume of blue-chip NFTs was 12.47k ETH, the total market transaction volume was 30.11k ETH, and as of 00:00 on February 3, the transaction volume reached a maximum of around 3,246 ETH.
04\TOP 10 Wallets
NFTScan analyzed the top 1,000 NFT holding value wallet addresses, and the current top 10 holding value are shown in the figure below:
Top1 Wallet:
0xab14624691d0d1b62f9797368104ef1f8c20df83
This wallet address holds 4,815 NFTs (including 3 NFT Collections), currently holds 64,785 ETH ($170,698,109.4), and has 7,459 interactions.
05\NFT Project Ranking List
The top 10 NFT projects with the highest transaction volume on the Ethereum network are shown in the figure below:
This week, Pudgy Penguins ranked first, with the floor price stable at around 9.9297e last week, and a 7d transaction volume of 3,799e; Azuki ranked second with a transaction volume of 2,530e, and the current floor price is 3.0895e; Bit Bears ranked third with a transaction volume of 2,106e, and the current floor price is 4.5e; the overall market transaction volume and floor price of most blue-chip NFTs showed a downward trend.
06\Popular NFT Express
This week’s popular NFTs are 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 transaction volume on Ethereum has exceeded 14.2k ETH. The transaction distribution in the past 7 days was mainly Blur: 1.6K (82.18%); OpenSea: 347.14 (17.82%) units of ETH, and the number of transactions in 7 days reached 185 times.
