Duo of Apes & Punks NFT Sales Going Hot At Bottom of Year

More than 350 thousand sales of NFT collections have taken place in the past 30 days only. Opensea alone sold NFTs for more than US$ 2.4 Billion and the sales at Opensea were increased roughly by 22% in the last 30 days.

Hot steam for Non-Fungible Tokens (NFTs) hasn’t ended yet. It continues to even bigger and better than ever before. While the hype for NFTs as well as for Metaverse is getting stronger and stronger. The past week also brought huge sales for Metaverse projects such as The Sandbox and Decentraland.

The stats show that in the past 7 days alone, The Sandbox project of Metaverse sold NFTs amounting to more than US$ 19.3 Million. The business of NFT sales for Decentraland was also top-notch as the project successfully generated revenues of US$ 6.6 Million. However, the 30-days sales records of Decentraland show that the project’s sales have increased by 200%. During this time, total sales of NFTs for Decentraland exceeded US$ 28 Million.

Opensea, which is an NFT auctioneer, too has seen a 23% increase in its trade volume in the past 30 days.  Similarly, projects such as Superrare and Magic Eden saw their trade volume increase. It sold NFTs worth more than US$ 148.86 Million in past 30 days. There were however reductions in the sales of NFTs at the NFT selling platform of Atomicmarket.

The most expensive NFT sales in this month belonged to ‘Bored Ape Yacht Club”. But overall the sales of collectibles of Cryptopunk were the most expensive NFT sales in the past 30 days. The purchasers collectively paid US$ 10.35 in Ether coins against their purchases of NFTs. Earlier sales of Cryptopunk collectible series involved revenue of US$ 150 Million and, in Ether coins, the seller received 400 Ethereum units. A single NFT sale of Bored Ape Yacht Club in the past 30 days turned out to be the most expensive sale which involved US$ 1.42 Million as sale proceeds.

Most of the NFT sales involve cryptocurrencies such as Bitcoin and Ethereum. However, since Bitcoin is relatively a highly valued crypto coin, the NFT market is heavily relying on Ethereum. Against Bitcoin, Ethereum is currently leading the NFT market from the front. Because of Ethereum’s being a not too expensive digital currency, therefore, Ethereum is outdoing Bitcoin in NFT sales. Almost 80% of NFT sales have been taking place against payments made in Ether coins.

At this moment, it seems that it is impossible to stop the NFT market to lose the hype. In fact, the market is growing rapidly side by side with the decentralized finance sector. Even amongst the NFT selling platforms, Opensea has left behind Sotheby as well which is the largest NFT selling platform in the world.

By Mike McIntosh
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