NFT Market Sees 6.29% Growth

This past week, NFT sales climbed by 6.29% compared to the previous week. Out of the $95.42 million generated, Ethereum-based NFTs took the lead

Non-fungible token (NFT) sales experienced a 6.29% increase during the past seven days, rising from the $89.6 million recorded in the previous week to hit a total of $95.42 million.

Despite this uptick in sales, the number of participants in the NFT market saw a sharp decline. Buyers dropped by 86.34%, moving from 31,986 to 5,448, while sellers also experienced a significant decrease of 77.25%, going down from 22,863 to 5,161.

Examining the sales across different NFT marketplaces, showed that Looksrare took first place with $22.19 million in volume, although this marked a 21.5% decrease from the previous week. Coming in second was Opensea, which generated $17.1 million in sales, reflecting a slight 1.63% uptick. NFT marketplace X2y2 followed closely behind with $14.69 million in volume.

Breaking down the sales by chain, showed that Ethereum-based NFTs led the way with $32.46 million in sales, indicating a slight 0.06% increase from the previous week. Solana NFTs followed with $19.52 million in volume, boasting an 11.08% uptick. In third place was Bitcoin, with BTC NFTs bringing in $14.69 million in sales, although this marked a 10.03% drop.

Examining the top NFT collections in the market, showed that Mythos’ Dmarket held onto its crown from the previous week, garnering $7.22 million in sales, which represented a massive 334.87% jump from the previous week. Immutable X’s Guild of Guardians collection secured the second spot with $3.6 million, up 7.28% from the previous week. Rounding out the top three, Sorare NFTs generated $3.34 million in sales, although this represented an 11.39% decrease from the previous week.

Coming to the priciest NFT sales of the week, an Autoglyphs #172 led the pack, selling for $207,500 six days ago. Following closely behind was a BNB Lockndeal NFT, fetching $136,959, also six days ago. The third highest sale was a GUSD Locked Arbitrum NFT, which went for $123,840 on Aug. 4. Interestingly, NFTs from Bitcoin, Solana, and Polygon followed closely behind in the rankings of the week’s most expensive sales.

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