NFT enthusiasts have been reunited with some of the rarest and oldest NFTs thanks to Emblem Vault.
According to NFT data aggregator CryptoSlam, NFT project Emblem Vault has exploded in the last month to become the second-largest NFT project by sales volume.
Emblem Vault NFTs earned almost $5 million in sales in the last 24 hours, with 607 transactions from 300 customers.
Emblem Vault is currently $9.5 million short of the most popular NFT project right now, the Pokémon-inspired blockchain game Axie Infinity, but it is more than $4 million ahead of popular NFT projects like NBA Top Shot and Bored Ape Yacht Club in terms of sales volume.
In September 2020, Emblem Finance launched the project on Bitcoin and Ethereum.
Each Emblem Vault is an Ethereum-based non-fungible token that serves as a multi-asset wallet. They allow you to trade NFT and fungible cryptocurrency portfolios as a single token, including those from different chains.
A set of blockchain addresses are generated from a single seed phrase in every Emblem Vault NFT. At any time, you can store various digital assets in each of the addresses, and only those with private keys can send tokens to other wallets.
Emblem enables collectors sell NFTs that predate the ERC-721 NFT standard since tokens are wrapped as modern ERC-721 NFTs, the same type of tokens that trade on major NFT marketplaces like OpenSea.
Pepe the Frog is one of the resurrected iconic NFTs in Emblem Vaults. A vintage RarePepe NFT showing Bitcoin pioneer Satoshi Nakomoto as a cartoon ‘Pepe’ sold for 147 ETH, or roughly $500,000 at the time, earlier this month.
EthPepe, a pepe representing Ethereum co-founder Vitalik Buterin, sold for 100 WETH (about $330,000 at the time of sale).
Emblem Vaults’ sales volume has plummeted from $6 million to $2 million in the last 24 hours, reflecting the quick increase on Thursday, when sales volumes increased to $6 million from $1.7 million.
However, Emblem Vaults’ position as the second largest NFT project on the market has not been harmed by the sudden drop in activity.