CR7 NFT Collection Tops BNB Chain’s 7-Day Transaction Volume

By November 21, 2022NFT
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Image source: BNB Chain

Quick take:

  • The collection boasts a total transaction volume of 693.2 BNB with 6753 owners.
  • Its floor price has dropped below 0.01 BNB.
  • The collection sold in phases with the rarest NFTs selling out instantly after the auction ended.

Cristiano Ronaldo’s NFT collection got a good start after selling the rarest NFTs within seconds. The Super Rare (SR) — 45 NFTs and Super Super Rare (SSR) — 5 NFTs, with starting prices at 1,700 BUSD and 10,000 BUSD, respectively sold out instantly after the auction ended.

Within hours, the CR7 NFT Collection had risen to the top of the BNB Chain 7-day transaction volume. As of this morning, the collection was still top, amassing a total sales volume of 693.2 BNB, equivalent to about $174k.

The CR7 NFT collection went live on Friday morning hot on the heels of Cristiano Ronaldo’s controversial 2-part interview with Piers Morgan.

The collection features 7 statues with four rarity levels that unlock different perks and benefits. The CR7 NFTs are inspired by the football superstar’s mercurial career, starting with The First Step (Basic), which celebrates his early life and beginnings in Madeira.

The Breakout (Common) features his early career in Portugal and Manchester United all the way up to his majestic achievements with Real Madrid and in football overall.

NFTs from these two classes had different expert periods with some still having more than 4 days remaining before the doors for more bids are closed.

However, the reason behind the overstayed auction could do with what appears like a breakdown in the pricing algorithm on Binance NFT.

Some NFTs in the collection seem to be priced at billions in ETH, with one going for a whopping 9,000,000,000 ETH.

Another explanation could be that the buyers of the NFTs do not want to sell them, and thus, quoting an extremely high price puts off potential bidders, preventing an unexpected sale.

The CR7 NFT collection also debuted with over 1.5 million mystery boxes, offered exclusively to the Binance community. The offers also came with a limited promo that gave new users a chance to receive a CR7 Mystery Box for free after registration and verification of their new Binance accounts.

The CR7 NFT floor price peaked at 0.0187 BNB on Friday evening before falling to 0.0106 BNB on Saturday and 0.008 on Sunday.

The collection appears to be significantly underperforming based on expectations but still managed to rise to the top of the BNB Chain’s 7-day transaction volume ahead of SUPER APE and Bird World Mystery Box 3.

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