Non-fungible token (NFT) sales saw a slight uptick last week, recording a modest increase of about 1.46% compared to the previous week. The cumulative value of NFT sales was $149.31 million from April 29 to May 6, 2023. However, the last week exceeded expectations, with sales up 31.22%. During the seven-day period, NFT sales reached $208.17 million. The surge in NFT sales this week can be attributed to the emergence of NFTs emerging from the Bitcoin blockchain.
Bitcoin-based NFT sales are gaining momentum
Bitcoin NFT sales have emerged as a major contributor to the digital collectible sales scene, among 21 blockchains featured by cryptoslam.io data Documented on May 14, 2023. Ethereum NFT sales continue to dominate with $111.26 million in NFT sales; However, Bitcoin-based NFTs, also known as ordinal patterns, took the second place.
The data shows that Bitcoin NFT sales took in $53,433,451 and took second place regarding blockchain sales out of 21 chains. Bitcoin NFT sales jumped 187.54% compared to the previous week.
NFTs on the Mythos blockchain also saw a significant increase as NFT sales rose 69.66% to $11.73 million this past week. The rise has propelled Mythos to the 3rd highest ranking considering the highest block chains by NFT sales volume.
Solana, which previously held the second largest spot, now ranks fourth in terms of NFT sales per blockchain. In the past seven days, Solana recorded $8,789,106 – a decrease of 21.16% compared to the previous week. The fifth blockchain with the largest sales volume over the past week was Polygon’s $7.79 million, down 7.07%.
In terms of NFT pools, cryptoslam.io data reveals that “unsorted ordinal items,” which are essentially random ordinal pools that are not part of any group, had the best aggregation status in sales this week. Unrated Ordinals managed to record $15.62 million in NFT sales.
Ethereum’s Bored Ape Yacht Club (BAYC) took second place this week with total sales of $13.80 million over the past seven days. The Dmarket Group of the Mythos Chain took third place, and the majority of Mythos NFT sales originated from the transactions of the Dmarket Group.
In fourth place, ORDI BRC-20 NFTs documented $11,044,110 in weekly sales, while Ethereum’s Milady Maker NFT pool collected $10,376,102 in sales during the same time frame and ranked fifth this week. Among the notable climbers this week in terms of NFT sales was Bitcoin-based Space Pepes with $4,607,834 accumulated over the past seven days – an increase of 2,142.35% compared to the previous week.
Moreover, a single NFT of the chain was sold for $4.5 million, making it the most expensive sale this week. Interestingly, the top five most valuable NFT sales in the past week all belonged to the unranked ranking category.
What do you think of the recent surge in NFT sales and the impact of Bitcoin-based NFTs? Share your views and opinions in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons, cryptoslam.io
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