NFT Market Breaks $400 Million in One Week

-->Recent data from Cryptoslam.io shows that the market for non-fungible tokens (NFTs) has grown significantly. Sales in the last seven days have reached $412,384,130, which is an increase of 35.14% compared to the previous week’s figures. This is already the third week in a row that the NFT market is growing. Are NFTs officially back? Let’s take a look at the data.

Big sales for NFTs

According to the latest data from Cryptoslam.io, $412,384,130 worth of NFTs have been sold in the past week. This increase is mainly due to bitcoin-based NFTs, which alone accounted for $154.82 million of total sales. That is more than double compared to the week before.

The Ethereum blockchain follows closely behind with $153.94 million in sales, a 10.60% increase in Ethereum-based transactions. Other blockchains such as Solana, BNB Chain and Mythos Chain also saw an increase in NFT sales.

These are the best-selling NFTs

The best-selling NFT collection of the week was “Uncategorized Ordinals” on bitcoin, selling $39,037,963. This is a huge increase of 213.99% compared to the previous week. Close behind was the “Nodemonkes” collection with $32,648,037 in sales. Other notable collections included Pandora, Creepz and Cryptopunks.

The most expensive NFT sale was a bitcoin NFT called “Burgie,” which sold for $1.44 million. There were also big sales on Solana and Ethereum, with “Composable Restaking Position” selling for $1.1 million and “Lif3 v3 Position” selling for $597,800, respectively. NFTs were also sold at high prices on BNB Chain and Polygon.

The future of NFTs

In 2021 we saw a big increase in hype around NFTs, but this quickly died down. However, there are more and more signals that the hype seems to be increasing again, for example due to the use of Binance. The trade fair has created an NFT marketplace focused on Ordinals on the bitcoin blockchain.