NFT sales surge by 11% this week, ETH dominates with $85.43 million
In an impressive departure from recent trends, the web3 marketplace is experiencing a surge in non-fungible token (NFT) sales. The latest data highlights a distinct shift with a 9% uprise of overall NFT markets, with Ethereum-based NFT sales leading the way and buyer demographics expanding at a remarkable rate.
NFTs are growing again
The world of web3 is witnessing a flurry of activity as recent data reveals a surge in non-fungible token (NFT) sales. Sales figures rose by a modest yet significant 9% this week compared to the previous week. Coupled with this, the past week saw an astounding 97% increase in the number of individual buyers, reaching a new total of 722,160.
The figures that can be verified in the latest data from Cryptoslam.io on June 21. The figures go in line with the current uprising trend on the overall web3 ecosystem, which is also noticeable in the NFT niche. Despite a slight drop of 1.93% in NFT transactions last week, a sharp rise in the buyer demographic has boosted the overall health of the market.
These figures signify a notable shift in trend from the previous reports on NFT markets, where the trend was leaning towards mounting sell pressure in recent weeks.
Ethereum volume dominates
Ethereum (ETH)-based NFTs dominated the sales figures with a whopping $87.07 million worth of transactions, clearly illustrating the robust preference for ETH in the NFT space. Simultaneously, Bitcoin (BTC)-centric NFT sales have dropped in volume but have held their own, maintaining the second spot in blockchain popularity for several consecutive weeks with sales reaching $18.43 million.
The past week saw an impressive performance by ETH-based NFTs, which experienced a 22.68% spike in sales. On the other hand, BTC-based NFTs noticed a brief decline in sales of around 14%. Behind ETH and BTC, Solana, BNB Chain, and Mythos are making their mark in the top five blockchains for weekly NFT sales.
Highlighted projects
In terms of specific collections, the leader in NFT sales was ‘Uncategorized ordinals‘, raking in an impressive $9.83 million. The ‘Grails II’ collection, auctioned by luxury house Sotheby’s, followed closely behind with approximately $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.
Two of the five most expensive NFT sales this week were from Sotheby’s ‘Grails II’ collection, with the top sale reaching a staggering $5.4 million. Two more NFTs from the ‘Uncategorized ordinals’ collection and one from the BNB chain also made it onto this prestigious list.
While many are celebrating this week’s 11% rise in NFT sales and the associated surge in buyers, the conversation continues about how these digital assets will shape the future of the internet and digital art markets.
