NFT Market Revival: This Once Dead Ethereum NFT Has Sold For + $110K

Updated: 26 August 2024

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Despite a sluggish start, the non-fungible token market has shown potential signs of revival in the second half of 2024. In the past several days, the global NFT market has experienced a remarkable revival, with NFTs, once pronounced dead, starting to resell again in the secondary market. Deathless is a perfect example of an NFT collection, reselling for over $110,000 in the past 24 hours.

GM

This dead ETH NFT sold for $110K pic.twitter.com/fntjZUgjN0

— Da Vinci 🧵 (@davincithreads) August 26, 2024

Deathless #4 NFT Collection Sells For $110K

Data compiled by Dappradar, an on-chain crypto market data aggregator and non-fungible token, shows that Deathless #4/20 has sold for 40ETH( $110,058) on the OpenSea non-fungible token market platform. Deathless is a non-fungible token collection from the digital artist XCOPY featuring a limited supply of 20 NFTs hosted exclusively on the Ethereum blockchain network.

XCOPY is a London-based crypto artist who has been a part of the crypto art community from the start. For the past four years, XCOPY has partnered with various NFT marketplaces, such as SuperRare and OpenSea, and has released over 100 NFTs on these platforms. His continued success on various crypto art platforms has made him a legendary figure in the NFT space.

Other NFT collections launched by XCOPY include Mortal, a NFT collection featuring a limited supply of 10 Ethereum NFTs and Otherload, another NFT collection featuring a limited supply of 20 NFTs hosted on the Ethereum blockchain network. In his Deathless NFT collection, XCOPY fused death, disorder, and crypto themes in chaotic visual loops. Emerging from the Tumblr golden age, a distinct aesthetic formed.

The NFT Market Health Check: Are NFTs Back?

The non-fungible token market, which used to be the talk of the town in late 2021 and early 2022, has been facing a shocking downfall that has left most NFTs shielding over 70% of their value. Last year, a study from DappGambl found that more than 95% of NFT investments were worthless. The data analytics firm found that 69,795 out of the 73,257 NFT collections had seen their market capitalization drop to nearly zero Ether.

Fast-forward to 2024. The global non-fungible token market has recorded a positive surge in the past several days, showcasing that NFTs are back after a prolonged bear market. The recent Deathless mega sale is a substantial testament that the NFT market is back in action. The increased attention to Solana-based NFTs further evidences the NFT market’s revival.