by Jamie Redman
On Monday, Dec. 5, 2022, market data shows that non-fungible token (NFT) sales dropped 5.23% lower than last week’s sales despite a 15.16% increase in NFT buyers. Out of the $112.70 million in NFT sales volume over the last week, Ethereum-based NFTs accounted for $86.59 million or 76.8% of the $112 million in sales volume.
Roughly $112.70 million in NFT sales volume was recorded during the last seven days, according to cryptoslam.io stats. The volume is 5.23% lower than last week’s sales volume and metrics show there was a 2.4% increase in NFT transactions.
Most of the sales volume stemmed from Ethereum-based NFTs as there was $86.59 million in ETH-based NFT sales during the last seven days. However, ETH-based NFT sales are 10.06% lower than the NFT sales stemming from the Ethereum blockchain.
Solana NFT sales saw a 29.57% increase and recorded $16.11 million in NFT sales over the past week. Algorand saw a much steeper increase at 55.15% higher than last week’s ALGO-based NFT sales, but ALGO NFTs only saw $93,242 in total sales during the last week.
Arbitrum also saw an increase this week jumping 50.10% higher than the network’s NFT sales recorded last week. Arbitrum NFT sales, however, only account for $269,453 of the total $112.70 million in NFT sales.
The fourth-largest blockchain, in terms of weekly NFT sales, was Cardano with $1,680,901 in NFT sales. Cardano NFT sales increased 8.89% higher than the blockchain’s NFT sales volume last week.
Immutable X captured the third-largest number of sales with $4,128,023, but sales slipped 2.73% lower than the week before. Over the last seven days, the NFT collection with the highest number of sales was Otherdeed as it captured $8,632,529 in sales across 3,990 transactions.
Otherdeed was followed by Bored Ape Yacht Club (BAYC) sales which saw $6,448,670, and Mutant Ape Yacht Club which recorded $5,872,336 in seven-day sales. The collections Clonex, Light Years Mint Pass, Sorare, Y00t, Gods Unchained, Cryptopunks, and Azuki followed respectively in terms of seven-day sales.
The most expensive NFT sold during the last week was Cryptopunk #4,181, an ETH-based NFT that sold for $187K two days ago. Cryptopunk #4,181 was followed by BAYC #276 which sold for $179K and Azuki #9,143 that sold for $174K. At the time of writing, between the Cryptopunks collection and the BAYC compilation, BAYC has the most expensive floor price value on Dec. 5, 2022.
What do you think about the last seven days of NFT sales action? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons, editorial photo credit: cryptoslam.io data, BAYC, Cryptopunks, Azuki
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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