The NFT market continues to face challenges. Final week gross sales decreased 12%, after a 16% decline the week earlier than. Gross sales over the past seven days have come to simply beneath $100 million by CryptoSlam. Over 785,000 merchants had been concerned in 1.4 million transactions.
Ethereum Leads NFT Gross sales
Supply: CryptoSlam
Ethereum continues to be the main blockchain for NFT gross sales. It recorded $38.4 million in transactions final week. Nonetheless, Ethereum additionally noticed a big rise in wash buying and selling, with earnings from this exercise rising by practically 9.5% to $37.69 million.
Final week, Polygon produced a terrific efficiency. With an 11.2% enhance in revenues, it surpassed the Bitcoin (BTC) community to take second place. Moreover, wash buying and selling on Polygon shot up. It elevated by 46% to $14.9 million, nearly twice as a lot as the quantity reported the week earlier than.
Bitcoin dropped to the third place in gross sales quantity. Its revenues fell by 40%. Solely Fantom (FTM) and Blast (BLAST) fared worse, with dips of 87% and 74%, respectively. Wash buying and selling on Bitcoin additionally surged practically 200%, though the $63,072 from this exercise is minimal in comparison with Ethereum and Polygon.
With the fourth-highest gross sales quantity of the week, Solana maintained its rating. After rating fifth the week earlier than, Immutable (IMX) fell to sixth place as Mythos Chain (MYTH) surpassed it with gross sales of round $4.5 million. Necessary exhibits had been additionally given by Panini, BNB Chain, and Zora. Zora had a greater than 50% acquire in gross sales quantity and Panini the corporate finest recognized for his or her NFT sports activities buying and selling playing cards noticed a 22% enhance in earnings to $135,000.
Prime NFT Collections
Amongst NFT collections, CryptoPunks made a robust comeback. It registered a 155% leap in gross sales quantity, incomes $5.26 million and turning into the top-selling NFT assortment of the week. DMarket from Mythos noticed a 9.21% dip in gross sales however nonetheless managed to earn over $4 million. With nearly $3.5 million in gross sales, Bored Ape Yacht Membership (BAYC), an Ethereum-based firm, got here in third place, up 73.66% from the earlier week.
Supply: CryptoSlam
Different collections additionally carried out nicely. Ethereum’s Pudgy Penguins and Solana’s DogeZuki Assortment earned $3.69 million and $2.43 million, respectively.
Prime-Promoting NFTs of the Week
The costliest NFT final week got here from Ethereum, promoting for $204,066. Nonetheless, that is considerably decrease than the earlier week’s high NFT, which offered for $587,194. A Bitcoin Ordinal offered for $113,465, taking second place. Mad Lads #4575 from Solana got here in third, promoting for $110,917.
Supply: CryptoSlam
Gross sales of fan tokens elevated final week attributable to necessary soccer competitions in Europe and the Americas. With Turkey’s first Euro 2024 victory, the Galatasaray (GAL) fan token noticed the largest enhance in gross sales quantity, rising an astounding 70,149% to $280.5 million. Additionally, the token’s value jumped by 2,542%, to $2.87 per unit. Gross sales of fan tokens for FC Barcelona, PSG, and Juventus additionally skilled a notable surge, with rises starting from 22,903% to eight,670%, as Spain, France, and Italy efficiently started their Euro 2024 campaigns.
