Axie Infinity is about to end its bear cycle- assessing the odds
Is AAVE on the way to surpassing Lido DAO’s $6.4b TVL
The A to Z of why crypto funding numbers fell during H1 2022
Likelihood of XRP repeating history from this resistance level
Chainlink: This is the true impact of this week’s integrations on LINK
Expect sluggish Bitcoin [BTC] hashrate growth in 2022 unless…
Are Bitcoin holders back to action after marrying the sell-off decision
Bitcoin miners sold nearly 400% of their production in June but…
Profits are down by 58%, but how are Bitcoin and miners coping after June
Bitcoin [BTC] maximalists are closely looking at these factors with $21k in sight
ETH Merge hopium or an expensive price/earnings level – Take your pick
Here’s when Ethereum investors can expect reversal from ongoing rally
Ethereum [ETH]: The true meaning of >130 ‘millionaire’ whales coming back
stETH-ETH Curve pool transactions show a buying spree for ETH despite…
Identifying what Ethereum [ETH] needs to push itself to $2K again
Over two weeks ago, Sorare NFTs were subduing the mighty BAYC collection in daily sales.
Now, much to the investors’ excitement, the CEO of Sorare, Nicolas Julia is set to launch the second edition to add to the fanfare surrounding the NFT. The Sorare MLB collection would be launching on 19 July.
Now the question remains- Will this be a hit or miss for the community?
The Sorare NFTs have made quite an entrance in the NFT marketplace. It is a fantasy football game where you can trade official blockchain player cards.
The game has over 250 officially licensed clubs including Liverpool and Real Madrid. In May, Sorare confirmed a deal with Major League Baseball to launch a fantasy baseball NFT game.
We have something big coming next week 🔥⚾🔥 pic.twitter.com/nWJnTxZkkZ
— Nicolas Julia (@ni2las) July 15, 2022
The Ethereum-based collection has performed brilliantly in the past month as seen in Sorare’s ranking.
Over the 30-day chart, at press time, it was placed #5 in the NFT rankings by sales volume totaled at $25.2 million.
The total owners of the collection reached a count of 17,248. While Sorare has shown a lot of promise recently, the daily sales volume is still far behind the all-time high (ATH) of $2.05 million in February 2021.
Despite the wider market crisis, the collection is still treading high in rankings. This factor will prove to be crucial when Sorare faces the bears.
Interestingly, the collection saw an uptick in price when the crypto market entered a relief period.
Well, the NFT markets responded jubilantly to the crypto relief rally and saw trading volumes getting back on track. Undeniably, Sorare faces a rising threat from other growing NFT collections such as Art Blocks and the already fancied CryptoPunks and BAYC.
The question arises, whether Sorare can survive in vicious market conditions. The improving market structure can provide relief. But, historically, we have seen such collections taking a southward journey when FUD sweeps into the market.
That being said, Sorare holders should take these points into consideration as they look to ramp up purchases with the new launch.
Loopring [LRC] – Up by 15% and $5.7M in GameStop NFT trades, but…
Australian Central Bank bats for private solution to cryptos if…
Kanav is a journalist at AMBCrypto. He has a Masters in Media and International Conflict and is interested in areas of digital society, crypto developments in the political sphere and the socio-cultural impact of a crypto-society.
Solana: Reasons why SOL holders can celebrate over the weekend
Art Blocks NFTs see sales shoot up by 300% after latest release
CryptoPunks tops weekly charts as it surges by 558% amid a recouping NFT market
How and Why of this NFT collection garnering more sales than BAYC
Punks and Dogs – Here’s what’s doing well in the NFT market
Solana [SOL] NFTs stand to be the undisputed king of trading volumes in Q2 2022 as per latest report
Your email address will not be published.
document.getElementById( “ak_js_1” ).setAttribute( “value”, ( new Date() ).getTime() );
Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.