NFT Sales Rise 18.43% This Week, Led by Ethereum’s $233.85 Million in NFT Settlements

Non-fungible token (NFT) sales rose 18.43% this week, totaling $272.68 million. However, the number of NFT buyers declined by 60.31% to approximately 195,716. Ethereum NFT sales continue to lead the market, accounting for $233.85 million of the total sales, a 25.42% increase from the previous week.

Top NFT Collection of the Week: Otherdeed Leads with $18.26 Million in Sales

NFT sales rose 18.43% this week, with $272.68 million in sales recorded across more than 20 blockchain projects that issue NFTs. Ethereum led the market, accounting for 85.76% of the total sales with $233.85 million. ETH-based NFT sales also increased by 25.42% from the previous week.

Solana ranked second in NFT sales, with $20,415,068 recorded over the past week. However, this figure represents a 25.95% decrease from the previous week. Ethereum and Solana were followed by Immutable X, Polygon, and Cardano in NFT sales, respectively. Immutable X saw $6,222,375 in sales, Polygon recorded $3,469,913, and Cardano had $3,132,714 in total sales last week.

The top-selling NFT collection last week was Otherdeed, which generated $18,260,273 in sales. Bored Ape Yacht Club (BAYC) followed with $16,520,662 in sales. The other collections in the top five were Mutant Ape Yacht Club (MAYC), Checks VV Edition, Doodles, and Sewer Pass. Of these five collections, BAYC saw the largest increase in sales, rising 31.35% from the previous week.

The most expensive NFT sold last week was Cryptopunk #5,066, which sold for $1.4 million five days ago. This sale was followed by BAYC #7,090, which sold for $1.3 million four days ago. Cryptopunk #2,886 sold for $454,744 a day ago, Otherdeed #54,421 sold for $327,796, and Otherdeed #67,782 sold for $282,219 this week. According to nftpricefloor.com stats, BAYC NFTs currently have the highest floor value at 70.97 ETH, followed by Cryptopunks at 63.29 ETH as of 9:30 a.m. ET on February 11, 2023.

What are your thoughts on the continued growth of NFT sales and Ethereum’s dominance in the market? Share your opinions in the comments below.