DappRadar – a top NFT and Defi dapp store – recently released a report analyzing the trading behaviors of three top NFT whales. It identified some collections and projects that the whales have pronounced exposure to, including Adidas Originals and Doodles.
What are Whales up to?
According to the report, the three whales discussed – Pranksy, Dingaling, and Wilcox – have a net worth $242.7 million across their wallets. Each appears to employ different trading strategies, however. While Pranksy is a more active trader (5000 NFTs minted, 5200 flipped), Wilcox is far more passive (1000 minted, 100 flipped).
Pranksy is the wealthiest collector among the three, with over $120 million in NFTs stored in his wallet alone. He holds 101 pieces of the Doodles collection, making him its fourth-largest holder. He also owns 2100 crypto kitties and 1450 Avastars. Over the past 6 months, the investor has minted over 54,000 NFTs and gathered over 2100 pieces.
A thread tying together all three collectors is their interest in Metaverse NFTs. Each holds large plots of land in “The Sandbox ”, a 3D-open world blockchain-based video game. Dingaling shows particular love for NFT avatars, holding 157 Voxies, and 150 VoxoDeus. Meanwhile, Wilcox owns CryptoVoxel land, Meta Key NFTs, and five CyberKongz VX.
Among these whales, The Adidas Originals NFTs have proven especially popular. The collection dropped in December as part of a collaboration between Bored Ape Yacht Club, Pixel Vault, and GMoney.
These NFTs were available to mint by any holders of the aforementioned collections for 0.2 ETH. Pranksy minted 4,700 items, followed by Dingaling with 476, and Wilcox with 99. So far, none of these individuals have flipped them.
Growth of NFTs
NFT trading has been remarkably active as of late, even in the face of a declining crypto market early this year. They’ve amassed $6.7 billion in trading volume within the first 40 days of 2022, which is already 60% of the Q4 volume of 2021.
This is partly thanks to the influx of celebrities buying and promoting NFTs in the past few months. To kick off the year, rapper Eminem bought a Bored Ape for $462,000. At the end of January, Justin Bieber claimed part of the same collection for $1.3 million, with a follow-up purchase of $470,000 days later.