25/12/2023 NFT Sales Dip — Bitcoin Dominance and Solana's Rise Challenge Ethereum’s NFT Authority

NFT Sales Dip — Bitcoin Dominance and Solana's Rise Challenge Ethereum’s NFT Authority

In the last week, sales of non-fungible tokens (NFTs) have fallen by 12.26%, totaling $463.87 million, marking a decrease from the previous week. NFTs centered around Bitcoin topped the chart, amassing $265.61 million in sales, despite a 13.71% decline from the preceding week. Meanwhile, Solana NFTs climbed to the second rank, relegating Ethereum to third place in this week’s sales.

NFT Market Update: Digital Collectible Sales Slide 12.26% Lower Than Last Week

As NFT sales began climbing once more with Bitcoin surging to the forefront since early November, this week witnessed a 12.26% dip in sales, according to figures from cryptoslam.io. Conversely, the count of NFT buyers surged by 72.05%, and sellers increased by 56.61%.

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This week’s priciest NFT, “Deep Vision #05128” on Cardano, fetched $551,750. Ethereum’s “Frxethredemption T” followed with a $369,208 sale price, and BNB’s “Lockdealnft #91” closed at $329,824.

Bitcoin’s “Bitcoin Frog #8518” garnered $137,957, while Avalanche’s “Nodeldnft #126” and Solana’s “#3524” realized $51,312 and $39,492 respectively, rounding off the top six most expensive NFT sales by blockchain.

Among the ten leading NFT collections over the past week, nine hailed from the Bitcoin blockchain, with only Solana’s “Open Solmap” compilation breaking in as the fifth highest, amassing $10.24 million in sales.

Previously, Ethereum-based ‘blue chip’ NFT collections like Cryptopunks and Bored Ape Yacht Club (BAYC) dominated sales charts. Yet this week, BAYC dropped to 27th, and Cryptopunks to 45th, as Bitcoin led the pack again with $265.61 million in sales, representing 57.25% of all NFT transactions this week.

NFT Sales Dip — Bitcoin Dominance and Solana's Rise Challenge Ethereum’s NFT AuthorityThe top four blockchain networks in terms of NFT sales according to cryptoslam.io.

Solana recorded $88.42 million in sales, while Ethereum pulled in $75.91 million. A while back, Ethereum previously enjoyed the majority of NFT sales, but this week saw Solana’s share at 19.06% and Ethereum’s at 16.36%.

Additionally, NFT transactions on the BNB chain surged by 118.84%, with Arbitrum seeing a 39.48% spike and Avalanche enjoying a 28.74% increase compared to last week. Despite the modest dip in NFT sales this week, the rise of Bitcoin-centric NFTs, highlights the dynamic and ever-changing nature of the digital collectibles space.

Solana’s ascent to the second spot further underscores the changing landscape, as Ethereum takes a step back in the rankings. The recent drop in rankings for BAYC and Cryptopunks certainly raises an intriguing question: Are these once-dominant ‘blue chip’ NFT collections facing a significant shift in the NFT landscape, or is this just a temporary setback?

Arts

https://news.bitcoin.com/nft-sales-dip-bitcoin-dominance-and-solanas-rise-challenge-ethereums-nft-authority/

Interesting NFTs
Who is Satoshi Nakamoto?
"Who is Satoshi Nakamoto?" is dedicated to the mysterious creation of Bitcoin, and acts as the showcase artwork within Javier Arrés’ exploratory series "Bitcoin, The Origin". "Who is the creator of Bitcoin?" The artist, Arrés, explores this question, and the feelings of doubt and mystery that accompany it, through his unique artistic language. An unknown, an enigma. It should be remembered that the name Satoshi Nakamoto is a pseudonym of Bitcoin's author or authors and gives us little insight into its true creator. For this Visual Toy, Arrés uses the signature claw machine, his famous half-operation, to symbolize our collective ignorance and unconfirmed belief: As soon as it has the stuffed animal within its grasp and appears to have solved the puzzle, the animal escapes again, and again. At present, there are three more public and studied possibilities who are either believed to be the creators of the currency or who directly claim the creation of it. It may be all or none of them, yet these three personalities leave us clues which are an important part of this interesting enigma. For this moment, it will remain unknown... In this artwork, Arrés elevates the claw machine from the apparatus, to an iconic pop art object serving as an important element to the Bitcoin creation narrative. Action is everywhere, with each movement serving an iconographical or metaphorical purpose related directly to cryptocurrency: Various ups and downs, roller coasters, mining points, robot, coins and more speak to a sense of hope, risk, mystery, randomness and possibility of pay out. Hundreds of manically thought out details make this creation one of the artist’s most complex Visual Toys to date. ------- "Bitcoin, The Origin" is a set of two Visual Toys, titled "Who is Satoshi Nakamoto" and "It’s Alive!" which reflect and explore the mystery and enigmas behind the creation of Bitcoin. Arrés presents these proposals to us in his signature style, full of iconography, fantasy, maniacal animations and a panoply of details (both subtle and overt) which simultaneously fascinate, hypnotize, and narrate this historical milestone through the singular vision of the artist. Through this series, Arrés freezes a crucial moment of cryptocurrency history, taking a still photo under his vision and turning it into two unique crypto artworks. ---- More info about Javier Arrés: https://javierarres.com/about.html
The dirty cape
Personal project
Stay Free (Edward Snowden, 2021)
This unique, signed work combines the entirety of a landmark court decision ruling the National Security Agency's mass surveillance violated the law, with the iconic portrait of the whistleblower by Platon (used with permission). It is the only known NFT produced by Snowden. Produced using open source software. This auction is on behalf of Freedom of the Press Foundation. https://www.aclu.org/press-releases/appeals-court-strikes-down-nsa-phone-spying-program-aclu-lawsuit
Miss Cattypuss
Ugh! My name's Miss Cattypuss. I once peed on Mother Theresa's cat. They had it coming. In my free time, I can usually be found wondrous or talking about how much I lift. Can you make my brilliant dreams come true?
#46782
By OthersideDeployer