NFT Sales Surge by 7.74% This Week, Reaching $118.2 Million

04/23/2023 14:36 • Metaverse Matters • 106 views

On April 23rd, it was reported that NFT sales surged by 7.74% this week, totaling $118.2 million. The data also shows that NFT buyers increased by 41% within a week, exceeding the number of buyers recorded in the previous week. The Ethereum blockchain contributed a significant portion, reaching $124.7 million, while $22.66 million came from the Solana (SOL) blockchain. Although ETH based NFT sales slightly decreased by 1.75%, SOL based NFT sales increased by 88.19%. The top five chains with the highest NFT sales in the past 7 days include ETH, SOL, MATIC, BNB, and Immutable X. The Bored Ape Yacht Club (BAYC) became the best-performing NFT series this week, with sales reaching $16.38 million. The Cryptopunk series continues to dominate the NFT market, with the highest floor value, followed closely by Bored Ape Yacht Club.

Data: NFT sales surged by 7.74% this week to $118.2 million

The market for non-fungible tokens (NFTs) continues to show impressive growth despite doubts and criticisms. On April 23rd, reports surfaced that NFT sales surged by 7.74% this week alone, totaling $118.2 million. Data from various sources indicates that NFT buyers also increased by 41% within a week, surpassing the number of buyers recorded in the previous week. This growth is impressive, considering that the NFT market only gained mainstream attention in early 2021.

The Ethereum and Solana Blockchains Dominate NFT Sales

A significant portion of the NFT sales can be attributed to the Ethereum blockchain, which contributed $124.7 million. The Solana (SOL) blockchain also showed remarkable growth, raising $22.66 million in NFT sales. However, ETH-based NFT sales slightly decreased by 1.75%, while SOL-based NFT sales increased by 88.19%. With the growth of several blockchain platforms, the NFT market has become more diverse, offering buyers a range of options to choose from.

The Best Performing NFT Series This Week

The Bored Ape Yacht Club (BAYC) series emerged as the best-performing NFT series this week, recording sales worth $16.38 million. The Cryptopunk series continues to dominate the NFT market with the highest floor value, followed closely by Bored Ape Yacht Club. As NFT buyers continue to explore new options and collections, it remains to be seen whether these two series will remain the top choices in the market.

The Top Five Chains with the Highest NFT Sales

In the past seven days, the top five chains with the highest NFT sales were Ethereum (ETH), Solana (SOL), Matic (MATIC), Binance Coin (BNB), and Immutable X. The emergence of Matic and Immutable X in the list shows that the NFT market is not limited to a few blockchain platforms.

Conclusion

The impressive growth of NFT sales and buyers is an affirmation that the market is here to stay. Despite criticisms and concerns, buyers continue to invest in unique digital assets, which they consider valuable. As more creators and artists join the NFT space, the market is bound to grow even further. It will be interesting to observe how the NFT market evolves in the future.

FAQs

1. What are NFTs?
NFTs refer to non-fungible tokens, digital assets that represent unique and valuable items, ranging from art, music, collectible games, and more.
2. What is the significance of the growth in NFT sales?
The growth in NFT sales is a signal that the NFT market has gained mainstream acceptance, and more buyers are investing in the digital assets, leading to increased market value.
3. Can I create and sell NFTs?
Yes, you can create and sell NFTs on various blockchain platforms that support the technology. However, it is crucial to research and understand the platforms before investing your time and money.

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