09/10/2024 NFTs weekly sales volumes hit highest level since August

NFT sales volumes for the week ending Oct. 6 hit nearly $85 million, the biggest selling week for NFTs since the end of August.

NFTs weekly sales volumes hit highest level since August

NFT sales volumes for the week ending Oct. 6 hit nearly $85 million, the biggest selling week for NFTs since the end of August.

Weekly sales volumes of non-fungible tokens (NFTs) hit the highest since August after weeks of lagging sales amid a broader market downturn.

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Datafrom theNFTmarket tracker CryptoSlam! shows weekly sales between Sept. 30 and Oct. 6 topped out at more than $84.9 million.

It’s the highest weekly NFTsales volume sincethe week ending Aug. 25, when it exceeded $93 million.

Artists, Tokens, Data

Weekly sales volumes for NFTs have suffered a downward trend since August. Source: CryptoSlam!

At its peak, the weekly sales volume for NFTs was over $2.2 billion, which it achieved from Aug. 23 to Aug. 29, 2021, according to CryptoSlam!

At the same time, three of thetop five blockchainsfor NFTs registered lower trading volumes, with Bitcoin BTC $62,206.50, Ether ETH $2,441.71 and Solana SOL $143.21 losing ground compared with the previous week.

Mythos Chain led the pack in gains, with a large spike to second place next to Ethereum, with over $15 million in sales, a more than 6,000% gain in the last seven days.

Polygon was also in the green, with a 210% rise in weekly sales volume.

Artists, Tokens, Data

Only two of the top five NFT blockchains were in the green for the week. Source: CryptoSlam!

NFT collection Dmarket had the highest sales in the last seven days, with over $14 million across 537,714 transactions.

Apart from the increase in total weekly volume, the number of NFT buyers also increased, with CryptoSlam! data showing more than 839,000 NFT buyers in the last seven days, an almost 22% boost from the previous week.

There was also a significant increase in transactions, with over two million total recorded, more than a 71% jump from the week before.

The broader NFT market is still struggling to regain ground and the highs of previous years.

Data from CryptoSlam! shows that NFTs recorded $303 million in sales in September, down from $373 million in August.

So far, the market’s strongest month for 2024 was March, when it recorded $1.6 billion in sales volume.

An Aug. 20 report by NFT Evening analysts suggested that 96% of about 5,000 NFTcollections they examined were dead in 2024, with over a third kicking the bucket in 2023.

The average lifespan of NFT collections was found to be just over a year.

Arts

https://cointelegraph.com/news/nfts-weekly-sales-volumes-hit-highest-level-since-august

Interesting NFTs
PERSIAN + ELK (Flamingo)
Uh, hi! I'm PERSIAN + ELK (Flamingo). I'm a Train Conductor by day, and I like volunteering at the local kitten rescue shelter by night. I'm often described as ridiculous, and I own it. We can be friends, but keep the ultra purrsonal stuff to yourself, please.
#46782
By OthersideDeployer
Finite.
⨍
Genesis
José Delbo sent me his striking pencil sketch and powerful inked work, which I then interpreted in oil on canvas. I wanted to create a very painterly piece with obvious brush marks etc, but I was also aiming for a nostalgic feel, a kind of 1980’s superhero comic book look, the kind I grew up with. My goal with this animation was to try to recreate, in part, the creative process that both artists went through with the visual information I had. I was able to showcase my painting process more accurately as I could take photographs of my progress throughout. Consecutive images could then be layered like brush strokes over José’s drawing to create the impression that this was one continuous artwork from pencil, to ink, to completed painting. The representation of the line sketch at the beginning, then pencil/ink and lastly the paint layers being applied demonstrate both artists’ struggle for the right lines, tone, form, and colour until the work is finally completed. As the oil was still wet with each photograph the glare of my studio lights can be seen in the brush strokes. Eventually, the figure emerges and as it does, our hero comes to life, looking directly at the viewer -- but is he grimacing in approval or disgust? We will never know for sure as just before he can say anything, white paint is brushed across the canvas entirely and the process begins again. Only the bat is quick enough to escape.
The Moth Catcher
In this psychologically bed-headed portrait, a creature sets in a trance; his eyes devolved and vestigal, his third eye open but hardened and in a form resembling a Sharingan. The imagery therefore expresses an awareness existing in corporeal introspection. The creature’s mind sprouts, on the left side, an emerging face, grinning. To the right side of the head, red tentacles and fingers intertwine–a collaboration of invertebrate and vertebrate consciousness cooperatively handling paint brushes of the sort used to build an oil painting. The neck and throat bristle with random thorns, as from a rose or the upper portions of a beak sprouting from its flesh. The neck itself disassociates into layers of membranous material, terminating upon an abstracted base of convoluted forms composing its body. The nose is virtually non existent, more a sinus reiterative of the shape of the third eye. Set against the exposed teeth peering out of thick, meaty cheeks, a skeleton-like impression results. That impression sets behind a visceral set of lips and tongue, which is the creature’s prime seat of awareness. Sensual, organic, the tongue organ hangs, meaty, and with consciousness of a sea cucumber. It illuminates at the tip, drawing the attraction of a nearby moth–with mystery of purpose.