The NFT Sales Were over $293 Million Last Week

NFT sales skyrocketed in 2021, with total volume reaching a whopping $12 billion. A few leaders are dominating the NFT market at the moment. Their popularity and monopoly haven’t been challenged by the market yet. But, it seems that more names will start appearing soon. Last week, only 5 famous digital art collections contributed $292 million in NFT sales.

In the last two years, the crypto and blockchain sector saw great heights, encouraging people to invest more money in it. Hence, digital collectibles, known as NFTs, became widespread. 2021 established non-fungible tokens and defined them as one-of-a-kind digital objects that are irreplaceable. Owners can trade them online.

Like cryptocurrency, NFTs also use blockchain technology to keep a record of ownership. Initially, they were released on Ethereum, the blockchain responsible for generating the token Ether. Even today, most NFTs are only available for purchase using Ether.

Decentraland

Powered by Ethereum blockchain, Decentraland is a VR platform whose sales volume accounted for $6.6 million. It allows the users to create and monetize content. The average sale price was $19,469, as 339 NFTs were sold within a week.

Art Blocks

It is an on-demand generative artwork that is stored on the Ethereum blockchain. Around 2,737 NFTs were sold last week, generating $13.2 million in sales.

CryptoPunks

It is a collection of 10,000 unique characters stored on the Ethereum blockchain. The main project that gave rise to the CryptoArt movement and fueled the NFT craze. While only 38 NFTs were sold last week, they generated $17.5 million in sales, with each NFT averaging $460,526.

The Sandbox

A community-driven UGC-voxel platform, The Sandbox lets users own their LAND and use their creative magic. The 7-day sales volume was $33.1 million, with 2,182 NFTs sold.

Bored Ape Yacht Club

BAYC are one-of-a-kind digital collectibles consisting of 10,000 Bored Ape NFTs. With the ownership of a Bored Ape NFT, you get the membership of the exclusive Yacht Club that allows you to enjoy the member benefits. By selling 695 NFTs, the company made $52.2 million last week.

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