Weekly NFT sales plunge 64% to $505 million amid crypto bear market. These were the 5 best-selling digital collections.
NFTshave had a breakthrough year, and over the past 12 months, volume has hit $28 billion.
- But a significant decline in the cryptocurrency market has helped fuel a pullback in
- These were the top five selling digital collectibles over the past week as NFT sales plunged 64%.
The cryptocurrency boom over the past few years has helped propel a newer market to record heights: digital collectibles known as NFTs.
The craze has pushed total NFT sales volume to $28 billion over the past year as artists, investors, and entrepreneurs descend upon the nascent Web3 space.
NFTs use blockchain technology to keep a digital record of ownership, similar to
A months-long sell-off in cryptocurrencies and the implosion of TerraUSD has taken a bite out of NFT sales more recently. Weekly NFT sales had been more than cut in half from its early January peak of nearly $1 billion, according to data from NonFungible.com.
The past week has seen weekly NFT sales plunge 64% to $505 million from $1.3 billion in the prior week, as familiar NFT collections like CryptoPunks and
These were the five best-selling collections over the past week, according to NonFungible.
5. Art Blocks
7-Day Sales Volume: $16.9 million
Number of 7-Day Sales: 4,646
Highest Sale Price: $619,000
Explainer: "A storefront for genuinely programmable and on-demand generative artwork that is stored directly on the Ethereum blockchain."
7-Day Sales Volume: $28.7 million
Number of Sales: 606
Highest Sale Price: $187,000
Explainer: "Doodles come in a joyful range of colors, traits, and sizes with a collection size of 10,000. Doodles are a funky bunch that like to role play or transmogrify themselves into delicious treats. Holding a Doodle allows you to participate in coordinating the Doodles Community Treasury."
3. Bored Ape Yacht Club
7-Day Sales Volume: $80.8 million
Number of Sales: 1,145
Highest Sale Price: $1 million
Explainer: "BAYC is a collection of 10,000 Bored Ape NFTs -- unique digital collectibles living on the Ethereum blockchain. Your Bored Ape doubles as your Yacht Club membership card, and grants access to members-only benefits."
7-Day Sales Volume: $124.8 million
Number of Sales: 5,422
Highest Sale Price: $2 million
Explainer: "Otherside is a gamified, interoperable metaverse currently under development by Yuga Labs. Players will own the world, NFTs can become playable characters, and thousands will be able to play together in real time."
7-Day Sales Volume: $127.8 million
Number of Sales: 8,919
Highest Sale Price: $246,000
Explainer: "Azuki is a collection of 10,000 avatars that grant membership access to The Garden. The Garden is a corner of the internet where art, community, and culture fuse to create magic. The lines between physical and digital worlds are blurring and the rules are being rewritten."
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