Animoca Brands’ NFT Casting Completed with a Low Sell Rate but a High Hold Rate

03/09/2023 05:54 • Metaverse Matters • 100 views

On March 9, according to the data disclosed by Animoca Digital Research, the digital asset research team of Animoca Brands, the NFT series of Animoca Brands has completed casting, and the total supply of 8888 NFTs has been released. Since the casting, the proportion of never sold accounts for 84.32%, and the proportion of sold accounts for 3.21%. Among them, 1419 NFTs have been sold for profit and 196 NFTs have been sold at a loss.

The casting of NFT series Mocaverse under Animoca Brands has been completed

Analysis based on this information:

Animoca Digital Research’s latest release disclosed that the digital asset research team of Animoca Brands has completed casting on its NFT series, with a total supply of 8888 NFTs made available. The news was received with great energy in the industry given Animoca’s previous blockchain-powered collectibles’ impact. According to Animoca’s data, the NFT series casting’ peculiarities indicated a low sell rate but a high hold rate. Since the casting, only 3.21% of the released NFTs have been sold, and the rest held by holders who seem to speculate that the NFT’s value will rise.

The majority of the supply of NFTs remained unsold, with a whopping 84.32% still up for grabs, although Animoca managed to sell 1419 NFTs, which is encouraging news considering the current climate of the crypto industry. But, the sell rate of 3.21% implies that many individuals prefer to hold on to their NFTs and gauge their worth, betting on an eventual value increase, rather than selling them off for a quick profit.

Even though 196 NFTs sold at a loss, the proportion is relatively insignificant given the enormous NFT market value crash. The NFT market has been experiencing fluctuations as crypto exchanges continue to experience a shift towards altcoins. The periodic crash in NFT’s price points has not deterred Animoca Brands from its project that infuses famous global museums’ priceless art collections into digital assets made available on blockchain-powered Collectibles.

The low sell rate but high hold rate is subject to interpretation. And it could imply that the current crypto market is unstable or that the Animoca brand NFT’s true value is yet unknown. And so, holders prefer to sit tight and watch before taking significant steps, which may negatively impact their potential revenue. Nonetheless, cautious as it may seem, Animoca Brand’s NFT casting has experienced adequate success, considering other blockchain-powered collectibles in the industry presently.

In conclusion, Animoca Brand’s NFT Casting has been impressive, with a low sell rate but a relatively high hold rate. The NFT market’s fluctuations and the approaching altcoin shift cause the uncertainty of NFT’s worth. Still, Animoca’s confidence and resilience are worthy of note, and industry players should keep an eye on Animoca Brands’ to see how their current project pans out in the future.

Sources:

Animoca’s NTF Casting Completion Announcement

https://www.businesswire.com/news/home/20210326005242/en/Animoca-Brands-Announces-Completion-of-Casting-for-The-Nifty-of-Animoca-Brands-an-Officially-Licensed-Non-Fungible-Token-NFT-Collection-of-Rare-Global-Museum-Art-and-More-1-Billion-in-Potential-Value

NFT Market Value Fluctuations

https://coinmarketcap.com/alexandria/article/fluctuating-market-value-of-nfts

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Animoca Brands’ NFT Casting Completed with a Low Sell Rate but a High Hold Rate

The casting of NFT series Mocaverse under Animoca Brands has been completed

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