Wednesday, May 29, 2024

Over $2.5 billion in NFTs were sold in the last seven days.

NFTs have recorded impressive growth during the year. This is despite the extreme volatility witnessed in the crypto space during the same period.

Just over the last week, NFTs recorded 161% growth. NFTs also recorded sales amounting to $2.5 billion during the week.

Data available on cryptoslam.io shows that on the Ethereum blockchain, NFTs dominated sales figures.

On the Ethereum blockchain, a total of 574 buyers participated in transactions that exceeded 2000. NFTs dominated the bulk of these sales. NFTs such as Meebits alone experienced sales of $1.23 billion.

NFT Sales Trends

If the other minor blockchains such as Theta, Wax, etc., were to be considered, even their NFT sales recorded impressive growth. The sales on Theta showed a 490% rise. NFTs on the Wax and Flow blockchains, NFTs recorded growth of 17.10% and 1.04%, respectively.

On the bigger blockchains, such as Solana and Polygon, NFT sales were down. On Solana by 36% and on Polygon by 11.5%. On Binance, NFTs depreciated by 80%.

Meebits was not the only NFT to gain. Loot enjoyed a good run and witnessed sales of more than $280 million. Another one, CryptoPhunksV2 witnessed sales of more than $140 million.

However, unexpectedly the popular NFTs such BAYC, MAYC and Phantabear – all experienced declining sales of 20%. Despite this, they remained in the top 10 by sales.

The NFT marketplace is dominated by OpenSea. However, LooksRare is gaining ground fast. Although only launched recently, based on sales data for the last week, it zoomed ahead of OpenSea. LooksRare recorded sales of $444 million to OpenSea’s $120 million. In comparison, Magic Eden, the Solana-based marketplace, had sales of $8 million.

However, despite this, OpenSea is still far ahead of LooksRare in overall sales. In overall sales, it is also much ahead of other marketplaces such as Axie and Magic Eden.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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