SuperRare has fewer buyers, but they purchase more expensive NFTs, data shows

SuperRare has fewer buyers, but they purchase more expensive NFTs, data shows
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Nonfungible token (NFT) marketplace SuperRare has set a new monthly record of $31.4 million for total sales volume with a week to spare until the end of October, according to Dune Analytics. 

SuperRare is a single-edition Ethereum NFT marketplace where collectors can purchase a blockchain deed of ownership for digital items such as memes, videos or artworks.

The monthly sales record was previously $29.5 million in March, with 929 active collectors purchasing 3,179 artworks. The average artwork price ranged between 3.0 and 5.5 Ether (ETH), or about $12,600–$23,000.

Despite reaching a higher total sales volume this month, SuperRare has half as many active collectors buying on the marketplace this month compared to March.

Genesis-mining

This month, there have been 372 active collectors, purchasing 726 items of a value ranging between 9.5 and 12.2 ETH, or about $40,000–$51,000.

In short, fewer collectors are buying fewer pieces from SuperRare. However, those who do tend to spend more money on big-ticket items.

Read more: Buyers shell out $7M for unseen NFT collection

For example, Starry Night Capital, a $100-million NFT collection fund, single-handedly accounted for nearly half of SuperRare’s total trading volume in October. Over the weekend, it purchased “Dankrupt” from artist Xcopy on SuperRare for 469 ETH, or $1.9 million.

Snoop Dogg also purchased an Xcopy piece in late September for a record-breaking 1,300 ETH, or $3.9 million.



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