Over the past few weeks, sales of non-fungible tokens (NFTs) have remained flat, and data for the past seven days has shown that NFT sales have declined by 8.11% from the previous week. Despite the slowdown, a few NFT collections saw significant percentage increases in sales, as collections like Electricsheep, Moonbirds, and Moonbirds Oddities soared between 90% and over 16,000%.
NFT sales drop 8% as Ethereum-based NFTs command 83% of this week’s $159 million sales volume
- Data for the past seven days indicates that $159.24 million in NFT sales were recorded, down 8.11% from the $173.29 million in sales the previous week. $133.45 million or 83% of the total NFT sales settled this week came from Ethereum-based NFTs.
- The remaining sales came from 17 different blockchain networks. While Ethereum has taken the lion’s share, NFT sales from the ETH chain are down 8.16% this week. The blockchain that saw notable gains in seven days is the Palm network up 60.50% and the Flow blockchain up 40.12%.
- In addition to Flow and Palm, blockchain networks Fantom, Arbitrum and Cronos have also seen gains in NFT sales over the past seven days. The biggest loser in terms of NFT sales last week was Waves, as the channel’s NFT sales were down 61.44% from the previous week.
- Most of NFT’s sales this week came from the Bored Ape Yacht Club (BAYC) NFT Collection, but BAYC’s sales were down 5.06% this week. BAYC is followed by the Potatoz compilation, Sorare Football, Otherdeed and Moonbird Oddities.
- Moonbird Oddities posted a significant seven-day gain of 266.10% in weekly sales, but the NFT Electricsheep collection jumped 16,591.74% this week. Interest in Moonbird Oddities this week also fueled sales of the original Moonbirds collection, which increased 92.27% from the previous week.
- The most expensive NFT sale this week was Bored Ape Yacht Club #5,555 after being sold for 270 ethers or $427,000 six days ago. BAYC #5,555 was followed by Cryptopunk #9,650, which also sold for 169 ethers or $264,000 six days ago as well. The two most expensive NFT sales were followed by Otherdeed #89,944, BAYC #6,775 and BAYC #4,814 respectively.
- The NFT markets with the most sales this week come from Opensea, X2Y2, Magic Eden and Looksrare, according to dappradar.com statistics on Tuesday. Opensea is approaching $32 billion in all-time sales worldwide with $31.51 billion, and Looksrare Market follows Opensea in all-time sales records with $1.57 billion.
What do you think of this week’s NFT sell action? Let us know what you think about this topic in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons, Moonbirds
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