Floor price up by over 2,800% in the past week

In the past seven days, the Rare Apepes NFT collection has broken out as one of the best-performing project on the market. What makes this breakout so surprising is that Rare Labs, the studio behind the collection, gave away lots of the NFTs in a free mint less than two weeks ago due to a lack of interest. Quite why the price has increased so dramatically is still up for debate.

Summary

  • All on-chain analytics for Rare Apepes show sharp increases over the past week. Floor price, average sale price and trading volumes in particular have all gone to the moon. Check our NFT Collections rankings to see how it’s performing now.
  • The collection is based on Rare Pepes and Bored Ape Yacht Club, two of the biggest collections in NFT history.
  • Rare Designer is the artist behind Rare Apepes. He heads up the Rare Labs studio and was the brains behind the original Rare Pepes phenomenon. Rare Pepes launched on the bitcoin blockchain in 2015 and predates the CryptoPunks OG collection.

What are Rare Apepes?

The Rare Apepes collection launched on March 5th, 2022 and is built on the Ethereum blockchain. The original mint price was 0.05 ETH and the project arrived without fanfare. So, no whitelist. No money-grabbing bonding curve. And the roadmap, though existing, was undefined..

On July 31st, presumably because uptake was slow following the original launch, Rare Labs decided to make the Rare Apepes free to anyone who wanted one. Eventually they minted out. But there was no mad rush to grab one. No hopeful collectors were complaining about missing a great opportunity.

Fast forward less than two weeks and the Rare Apepes story has changed. Over the past week, since just after the free mint finished, graph lines for the collection’s on-chain analytics have all headed upwards.

Plenty of the important information that we track at DappRadar is showing three and four-figure percentage increases. Where this sudden surge in popularity has sprung from is anyone’s guess at the moment. But this isn’t the first collection we’ve seen in recent times that managed to latch onto a piece of untapped public interest.

Goblin Town came from nowhere in May 2022 and, since then, tens of millions of dollars worth of the ugly little gnome NFTs have traded hands. Despite well-researched claims that the NFT bubble has burst, it seems there are still gaps in the market for the right collection.

Huge surge in activity

As of writing, the Rare Apepes free mint started nine days ago. In the past week, on-chain analytics for the collection have shown stratospheric growth.

The floor price and average sale price for the collection have gone up by 2,932% and 570%, respectively. Bear in mind that these numbers are liable to change though. With collections that are going through acute periods of intense popularity, on-chain data can change drastically from minute-to-minute.

It’s probably best for you to check for yourself how the collection has performed by going to our NFT rankings pages and see if Rare Apepes has maintained its strong growth or fallen off the radar into irrelevance.

Interestingly, you can see that sales numbers have not increased ten or a hundred-fold, like some of the on-chain analytics have. That suggests the collection has lots of committed hodlers as they haven’t rushed to sell despite the floor prices shooting up.

The 628% spike in trading volume – a measure of how much money has changed hands as people buy and sell – is a result of the newly-inflated prices rather than increased sales. The current floor price is hovering around the 0.22-0.23 ETH mark. But some of the most expensive sales are truly eye-catching.

In the past 12 hours alone, four Rare Apepes have been sold for over one ETH:

You can find all of these Rare Apepe NFTs on DappRadar’s NFT Explorer. For anyone who wants to buy into the collection before it’s too late, our Explorer is the perfect tool to find the rarest and best-value Rare Apepes.

Find the best Rare Apepe

With the NFT scene still in relative infancy, and secondary marketplaces offering varying levels of quality when it comes to search functions, our NFT Explorer is one of the best ways to find out about collections. We aggregate various on-chain data points and NFT metadata so that you can make the best decision on where to spend your cryptocurrency.

DappRadar’s NFT Explorer

To find the best Rare Apepes currently on the market for the best price:

  1. Go to our NFT Explorer.
  2. Find the Rare Apepes collection.
  3. Use the dropdown on the right-hand side to Filter Metadata.
  4. Search for the rarest Apepes with the most sought-after traits.
  5. When you click on Apply, you’ll be presented with some unique NFTs.
  6. Then you need to go to a secondary marketplace and put in an offer that you think is reasonable. Even better, if the NFT is on sale for lower than our Estimated Price, then you know you’ve found yourself a bargain.

You should note that not all NFTs have an Estimated Price. This is because some collections are so new that we haven’t fully integrated the data for them into our platform. For other collections, there may not be enough trading data to give a fully-informed estimate.



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By Scraper

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