PhantaBear Beats the Sales volume of Bored Ape

A new NFT collection, PhantaBear has beaten the highly coveted Bored Ape Yacht Club on trading volume in the past seven days. Backed by the Taiwanese pop star Jay Chou and Hong Kong actor Edison Chen, PhantaBear was launched on January 1 this year.

The NFT collection was jointly launched by the fashion brand of the Taiwanese pop star and the NFT platform, Ezek. The trading volume of this NFT collection surged to $63.82 million with the lowest floor price being 4 ether. 

PhantaBear is an example of the ongoing frenzy behind NFTs, digital representation of artwork, sports cards and other collectables tied to a blockchain. According to the data from NonFungible.com, NFTs recorded more than $12 billion in sales on ethereum blockchain. 

According to a 2021 year-end report of Kraken Intelligence, the NFT market boasted a diverse audience and made waves in several sectors, especially in art, collectables, DeFi, gaming, metaverse, and utility-driven NFTs by the end of 2021.