Non-fungible tokens or NFTs are digital collectibles that have grown immensely popular over the previous 2 years. However, NFTs have really broken through in 2021, and their total sales volume of $12 billion reflects the NFT craze among entrepreneurs and investors. These irreplaceable, unique, and almost-always-digital collectibles rely on blockchain tech to keep ownership records digitally, which makes them akin to cryptocurrencies.
NFTs were first launched on the Ethereum blockchain, which has grown from strength to strength over the years along with its native crypto token, Ether. Even though nowadays different blockchain platforms are used to buy and sell NFTs, the majority of transactions happen on Ethereum, with payments mostly being accepted in Ether (ETH).
In the previous week, NFT sales hit a whopping $292 million, and the following were the best-sellers.
1. Art Blocks
Art Blocks’ 7-day sales volume was $13.2 million, while 2,737 NFTs were sold. The average sales price of this NFT was $4,822.
2. Decentraland
Decentraland’s 7-day sales volume was $6.6 million, and 339 NFTs were sold. The average sales price of this NFT was $19,469.
3. The Sandbox
Sandbox’s 7-day sales volume was $33.1 million, and 2182 NFTs were sold. The average sales price of this NFT was $15,169.
4. CryptoPunks
CryptoPunks’ 7-day sales volume was $17.5 million, and 38 NFTs were sold. The average sales price of this NFT was a whopping $460,526.
5. Bored Ape Yacht Club
Bored Ape Yacht Club’s 7-day sales volume was $52.2 million, and 695 NFTs were sold. The average sales price of this NFT was $76,107.
