The non-fungible token market continues to heat up with strong sales volume on OpenSea, an NFT marketplace for buying and selling items.

A waitlist for the highly anticipated Coinbase Global Inc (NASDAQ:COIN) NFT marketplace has more than two million people signed up, which could increase the valuation and demand for NFT projects.

Every week, Benzinga takes a look at the top ten NFT projects by sales volume. This week’s list featured three of the most popular projects of all time topping the list. An NFT based on a popular cryptocurrency also joined the top ten list.

Here is a look at the top 10 NFT projects by sales volume from the past week, as reported by CryptoSlam.

Axie Infinity: $113.2 million, -4.3%

CryptoPunks: $37.1 million, +2.9%

Bored Ape Yacht Club: $21.1 million, -21.1%

Farming Tales: $17.8 million, +181.5%

Farmers World: $14.8 million, +26.9%

Art Blocks: $10.5 million, -9.9%

The Shiboshis: $9.7 million, +125.2%

NBA Top Shot: $8.8 million, -13.0%

Doodles: $8.3 million, -81.5%

Mutant Ape Yacht Club: $8.1 million, +8.6%

Related Link: 11 NFTs With A Halloween Theme To Watch Ahead Of The Holiday 

What Happened: Axie Infinity topped the list once again and remains the weekly leader over the last two months. The popular play to earn NFT game has a sales volume of over $2.7 billion in its lifetime and over $500 million in the last 30 days.

CryptoPunks saw a slight increase in sales volume, helped by a record breaking controversial sale for 124,457 Ethereum (CRYPTO: ETH).

Farming Tales and Farmers World saw big gains this week. Both NFT projects trade on the WAX Blockchain and aren’t as well-known as top Ethereum based projects.

The other big gainer this week was Shiboshis, a 10,000 NFT project celebrating the Shiba Inu (CRYPTO: SHIB) cryptocurrency. The Shibs have traits like laser yes and party hats and will be used in an upcoming Shiboshi Game. The NFTs can be purchased at ShibaSwap. Shiboshis have a floor price of 1.7 Ethereum on OpenSea at the time of writing.

NBA Top Shot remained in the top ten again with the NBA season fully underway and new pack drops happening for the popular sports based NFT project.

Photo: Courtesy of boredapeyachtclub.com

A non-fungible token project built to honor the Shiba Inu coin is climbing up the sales volume leaderboard. Here’s what you should know about the Shiboshis.

What Happened: In mid-October, the Shiboshis were offered to investors with varying prices.

The NFTs were offered using Doge Killer (CRYPTO: LEASH), the second coin in the Shiba Inu (CRYPTO: SHIB) ecosystem, for the first 24 hours. The 10,000 NFT project featured a sliding scale for pricing with the first 3,000 available for 0.1 Ethereum (CRYPTO: ETH) each, the next 5,000 available for 0.2 ETH each and the last 2,000 available for 0.3 ETH each.

The Shiboshis saw strong sales prior to the public mint and sold out in under an hour with high gas fees due to strong demand.

“Shiboshis are 10,000 lovable Shiba Inu generated non-fungible tokens eternally written on the Ethereum blockchain,” the company’s OpenSea profile says.

Each Shiboshi has traits that correspond to an upcoming Shiboshi Game.

“The Shiboshi Game will allow Shiboshi holders the ability to use their NFTs in strategic gameplay,” according to the company’s website.

As the first NFT project featured using ShibaSwap and corresponding to Shiba Inu coin and Doge Killer, the project could continue to be popular.

See Also: How To Buy Shiba Inu (SHIB)

Rising Valuation: Shiboshis have a floor price of 1.94 ETH at the time of writing. Top sales for Shiboshis include two 50 ETH sales and several ranging from 25 ETH to 30 ETH.

The top sales for Shiboshis feature the rare steelhead and bat headwear traits corresponding to looking like Iron Man and Batman, respectively.

As of Monday afternoon, Shiboshis’ sales volume is $1.5 million in the past 24 hours, ranking seventh on CryptoSlam’s daily rankings and up 10% to the previous day.

Over the past seven days, Shiboshis had sales volume of $10.5 million, ranking sixth on the list. Shiboshis appeared in the weekly top 10 for the first time last week. 

Despite being available only half the month of October, Shiboshis rank 16th in sales volume at $28.6 million.

Photo: Shiboshis at ShibaSwap.

Hoping to replicate the success of NFT collections such as CryptoPunks and Bored Apes, Shiba Inu is set to launch Shiboshis.

The initial Shiboshis drop will be available only on Shiba Swap. But no firm release date has been confirmed as of yet.

In a post dated October 5, Project Lead Shytoshi Kusama mentioned, “we are so excited to bring them to you next week (or earlier).” However, more than a week after the post, the relevant link currently shows a holding page with a coming soon message.

Some say Shiba Inu is a smash and dash intending to leave investors holding bags. Others, including Michael Burry, point out its one quadrillion (1,000,000,000,000,000) total token supply makes it a poor investment choice.

However, Shiboshis is an indication the team is looking to build for the long term. Is it time the community gave Shiba Inu a break?

Get your Shiboshis

As the official website has yet to come online, details of Shiboshis are somewhat thin on the ground at the moment.

We do know the collection consists of 10,000 “lovable creatures,” presumably, in line with other NFT collections, they’ve been algorithmically generated based on a set of variable attributes. But there is no information on what these attributes consist of.

What we do know is that pricing follows a tiered system. The first 3,000 will cost 0.1 ETH ($340), the next 5,000 will cost 0.2 ETH ($680), and the final 2,000 will cost 0.3 ETH ($1,020).

However, the Shiboshis can only be purchased using $LEASH, one of three major tokens in the Shiba Inu ecosystem. The others are $SHIB and $BONE.

While Burry slated $SHIB’s one quadrillion maximum token supply, $LEASH has a circulating supply of just 107,647. But there is no data on its maximum supply.

As an added twist, Kusama said Shiboshis aren’t just NFTs; they’ll also form characters in an up-and-coming game. Different attributes will yield particular functions. For example, Kusama spoke of laser eyes giving long-distance attack abilities.

“The Shiboshi Game will allow Shiboshi holders the ability to use their NFTs in strategic gameplay. Some Shiboshi properties will have corresponding gameplay elements attached.”

Is Shiba Inu all hype no substance?

Shiba Inu may have started as a Dogecoin copy, looking to cash in on the hype. But the project has “evolved” into something much more useable than the original.

$LEASH was initially meant to be a “rebase” token (elastic supply) linked to Dogecoin’s price. But somewhere down the line, devs decided to drop that idea and use it as an ERC-20 token in its own right, without tracking Dogecoin.

In July, when Ethereum co-founder Vitalik Buterin sold the 50% supply of $SHIB he was gifted, many thought it was game over. But the Shiba Inu team has spun the incident into a positive event.

“VB has since utilized SHIB in the largest crypto donation in history, and then actually burned 40% of its total supply to a dead wallet, ensuring our long-term success and stability.”

Love it or hate it, there’s no getting away from Shiba Inu surpassing Dogecoin in useability.

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