Despite the Drop in Crypto Prices, Weekly NFT Sales Reach $4.7 Billion, Increasing 81%

While crypto markets shed billions over the past seven days, non-fungible token asset gross sales are nonetheless up 81% since final week. Statistics point out $4.7 billion in NFT gross sales had been settled in seven days amongst 326,733 patrons, and Ethereum noticed a continued rise in NFT gross sales quantity.

NFT Sales Remain Strong Despite Crypto Market Price Reversal

Bitcoin, ethereum, and a myriad of digital property have seen deep losses this week by way of spot market worth towards the U.S. greenback and different fiat currencies. Despite the crypto market carnage, NFT gross sales proceed to increase with $4.7 billion in gross sales since final week.

The week prior, NFT gross sales throughout roughly ten blockchain networks amounted to $2.5 billion in international gross sales. NFT gross sales quantity over the past seven days has elevated 81.4%, in accordance with statistics.

Out of the ten blockchains recorded, Ethereum gross sales jumped 84.04% this week whereas Ronin NFT gross sales elevated by 29.99%. The third and fourth largest blockchains by way of NFT gross sales, Solana and Flow, have seen gross sales drop this previous week.

Solana NFT gross sales are down 10.26% and Flow NFT gross sales have decreased by 13.17%. However, the largest drop in NFT gross sales was Polygon’s 23.57% drop this previous week. Theta noticed a drop in gross sales this week however solely misplaced 4.56%. Binance Smart Chain (BSC) noticed the biggest enhance in seven-day gross sales with a 279.67% enhance.

Meebits and Terraforms Reign, Older NFT Projects Drop Down the Weekly Sales Ladder

Last week, the NFT assortment Meebits was the highest contender by way of NFT gross sales and nonetheless is that this week. During the final seven days, Meebits has recorded $1.9 billion in gross sales, up 104.40% since this time final week.

Terraforms noticed $1.2 billion in gross sales final week up greater than 298%, and Loot recorded $468 million up 79% since final week. Cryptophunks V2 gross sales are up 88% this week and Azuki NFT gross sales elevated over 141%. Collections that had been as soon as high contenders by way of NFT gross sales like Bored Ape Yacht Club (BAYC) have seen gross sales slip. BAYC gross sales are down greater than 34% over the past seven days.

Mutant Ape Yacht Club (MAYC) gross sales are up greater than 4% however the MAYC assortment has slid to the tenth largest NFT compilation after being a high 5 contender. Furthermore, The Sandbox NFT gross sales have decreased by over 31% after the metaverse mission’s vital rise two weeks in the past.

Overall, NFT markets and gross sales have managed to stave off the crypto market carnage that crypto property have been experiencing in current instances. Those funds, whereas decrease in worth, are nonetheless buying NFTs in nice numbers and the billion-dollar NFT business stays worthwhile.

What do you consider the final seven days of NFT gross sales and the truth that they’re nonetheless up regardless of cryptocurrency markets shedding numerous worth? Let us know what you consider this topic within the feedback part beneath.

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