The NFT market is experiencing a surge in sales, with Ethereum-based NFTs leading the way. According to data from Cryptoslam.io, sales figures rose by 9% this week compared to the previous week. The number of individual buyers also increased by 97%, reaching a new total of 722,160.
These figures represent a notable shift from recent trends, which have been marked by declining sales and mounting sell pressure. The surge in NFT sales is likely due to a number of factors, including the growing popularity of the metaverse, the increasing adoption of NFTs by major brands, and the launch of new and innovative NFT projects.
Ethereum Dominates
Ethereum-based NFTs accounted for the majority of sales this week, with a total volume of $87.07 million. Bitcoin-based NFTs followed in second place, with sales of $18.43 million. Solana, BNB Chain, and Mythos also saw significant sales, ranking third, fourth, and fifth, respectively.
Popular Collections
The top-selling NFT collection this week was “Uncategorized ordinals,” which generated $9.83 million in sales. The “Grails II” collection, auctioned by luxury house Sotheby’s, followed closely behind with $7.67 million in sales. The top five were rounded off by sales from the Bored Ape Yacht Club (BAYC), Dmarket, and Gods Unchained NFT card sales.
The Future of NFTs
The surge in NFT sales is a positive sign for the future of the NFT market. As the metaverse continues to grow in popularity, NFTs are becoming increasingly valuable as digital assets. Additionally, the increasing adoption of NFTs by major brands is helping to legitimize the market and attract new investors.
It remains to be seen whether the current surge in NFT sales will be sustained. However, the data suggests that the NFT market is still growing and evolving. As the market matures, we can expect to see even more innovative and exciting NFT projects emerge.
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*All investment/financial opinions expressed by NFT News are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
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