January Blue-Chip NFT Recap

In January, blue-chip NFTs experienced a period of slightly curbed trading activity. Following a burst of optimism that thrust blue-chip NFTs into the limelight in December, attention evaporated marginally and wandered to many newcomer ventures.

Most notably, the meta-narrative of open editions, which mutated into a flood of Checks derivatives toward the second half of the month, stole the show from their more entrenched counterparts. Going head-to-head with each other, BAYC and MAYC generated 45.2K ETH and 44.3K ETH in trading volumes, respectively, corresponding to $73.5mm and $72.2mm at the current price of ETH.