PUNK 3493 Uses AI to "Rebirth" and Disrupt the MEME Market, CryptoPunks Drives Weekly NFT Trading Volume Up by 75.3%

The long-dormant NFT market is experiencing new vitality and innovation. Recently, the blue-chip NFT project CryptoPunks has led to a significant market resurgence, particularly with the heated discussions surrounding the permanently destroyed NFT PUNK 3493, which was "reborn" as a MEME coin by an AI Agent. Meanwhile, the traditional giant McDonald's has partnered with the NFT project Doodles to further deepen the integration of NFTs with real-world applications. The NFT market is competing for market attention. According to the latest data from CryptoSlam, NFT sales reached $180 million in the past week, an increase of nearly 75.3%. Among these, CryptoPunks' sales exceeded $23.83 million, and from the sales data of NFTs over a certain period, 95 out of the top 100 NFTs in terms of sales amount came from CryptoPunks, with prices ranging from $100,000 to $520,000. According to NFT Floor Price data, as of November 18, the floor price of CryptoPunks reached $114,000, marking the first time since June this year that it has surpassed the $100,000 threshold. Furthermore, according to crypto researcher NFTStats.eth, at least 97 independent wallets purchased CryptoPunks last week, conducting at least 150 transactions, with sales exceeding any similar period last year. Data from CryptoSlam also indicated that the trading volume of CryptoPunks surged over 549% compared to the previous week. In contrast, the market performance of other leading NFT projects is not optimistic. For example, data from CryptoSlam and NFT Floor Price show that the weekly trading volume of Bored Ape Yacht Club was only $4.90 million, and its floor price has continued to decline this year; Azuki's sales last week were merely $104,000, with the floor price having dropped to levels seen in July of last year. It is worth mentioning that while the NFT market has shown a clear short-term resurgence, collaborations between NFT projects and traditional brands are attracting more traditional users and consumers. On November 14, fast-food giant McDonald's announced a partnership with the NFT brand Doodles, launching a co-branded coffee and collectibles series. This collaboration will introduce a custom McCafé x Doodles Holiday cup and launch a marketing campaign named "GM Spread Joy," allowing customers to participate in 13,500 McDonald's stores across the United States. However, the development of the NFT market remains precarious. Bitcoin.com recently reported that the "2024 NFT Issuance Report" indicates that 98% of NFTs issued in 2024 have not seen trading activity since September, with 64% of the minted NFTs having fewer than 10 transactions, and 84% of the highest prices being equal to their minting prices, suggesting that buyers are adopting a more conservative attitude. This limited trading activity indicates a lack of enthusiasm or confidence among investors in these projects, with low user participation and low minting volumes highlighting the difficulties creators may face when launching new NFTs. This apparent market saturation corresponds with a waning interest among users in NFTs and the metaverse, as some large tech companies that actively engaged in the NFT and metaverse frenzy a few years ago are reporting significant losses, with some companies having completely abandoned or deprioritized their metaverse projects. Additionally, the report points out that only 0.2% of all NFT issuances have yielded profits for investors, highlighting the overall predicament of the industry.