The boom in the cryptocurrency market over the last few years or so has seen the rise of a new asset class, and that’s the digital collectibles called Non-Fungible Tokens or NFTs. 2021 was the breakthrough year for NFTs as they saw sales of up to $14 billion.
NFTs were first launched on Ethereum but have since evolved into other blockchains. However, most NFTs can only be purchased using Ether. The popularity of NFTs has continued to grow. Even as the broader crypto market slumped in January, NFTs have held steady.
In the last week alone, data from NonFungible.com shows that total NFT sales hit around $926 million. Some NFTs sold better than others.
Here are the top 5 best sellers:
Cool Cats is an NFT collection that has been attracting a lot of investment. Its 7-day sales volume is around $14.8 million with a total of over 427 NFTs already sold under the collection. Also, the highest sale price for Cool Cat was around $1.41 million, and this particular NFT is now listed for $3.69 million.
As the name suggests, these are quite latterly doodles powered by NFTs. They are available in a huge variety as well; the entire collection has over 10,000 NFTs under its name.
The 7-day trading volume for Doodle stands at around $19 million. Total sales over the last 7 days hit 580 while the highest sale price was recorded at $692,807.
These unique and randomly generated 2D and 3D NFT based avatars can be used on social media and other platforms. They come in a huge variety as well.
Over 1,308 of them have been sold over the last 7 days with the highest sale hitting a value of around $261,410. The weekly sales volume was estimated at $20 million.
There are over 10,000 unique collectibles under the CryptoPunk collection. These are simply collectible characters that are all based on the Ethereum chain.
They have a weekly sales volume of $48 million, making them a large entity in the NFT market in terms of value.
The highest sale made over the last week was at a massive $3.1 million. Over 189 NFTs were also sold during the same period.
Bored Ape Yacht Club
The Bored Ape Yacht Club was by far the main performer as far as NFTs sales go the past week or so. This collection features over 10,000 unique collectibles, all of which are stored and transferred on the Ethereum Network.
The 7-day trading volume for BAYC is around $180 million. The biggest single sale was valued at around $1.3 million. Also, over the week there were over 2,083 sales involving this collection.
NFTs are expected to continue growing and becoming more mainstream in the crypto market. The numbers we are seeing now are huge.
Besides, the fact that NFTs are growing even as the broader crypto market slows shows just how important they can be as a store of wealth in the future.