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.

McDonald’s Collaboration Sparks Doodles NFT Floor Price Surge
NFTs weekly sales surge 94% as crypto market continues bullish run
Virtual Real Estate Plot on 'Decentraland' Sells as NFT For Over Rs 6 Crores

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
The Rare Pearl Moon with Motion
Motion Version Part of my moon series. This super rare pearl moon has just washed ashore on a remote tropical island beach, fining one of these rare Jems is like a total worldly treasure! These moons, only fall to earth once in a few million years! When I found this one I felt the luck that is said to come with this pearl moon.
#81947
By OthersideDeployer
Coming into the Abyss
1 of 1. Collage on repurposed album cover. Physically backed ERV. Contact artist to burn NFT and pay 1ETH to receive physical copy shipped anywhere. Purchaser also will receive mystery heistmask shipped anywhere made from vinyl record.
Fuku-Shiva
The term “Fuku” refers to fortune or good luck. “Shiva” refers to the Hindu deity who represents strongly polar qualities, both severe and delicate. On a beach inspired by adventures on Phi Phi island in Thailand, three youths cavort. Two are representational figures and the third is psychologically rendered. A dynamic relationship ensues between the triad; a reciprocity of active and passive states. The boy on the right engages in maneuvers of evasion, defense, and is dressed in a speedo which reiterates the colors and symbolism of the caution tape on the left and upper right frame of the composition. In concurrent reaction the psychedelic figure shoots out a rocket powered paper airplane. The nude boy seated in the froth and sand approaches in passive repose, and is met with active attention but equal physical reserve by the psychedelic being. Perhaps the most naked figure is also the least representational. Looming large, dynamic, and active, it engages its companions playfully. Various symbols interject into the otherwise naturalistic scene, most notably a beach ball and two contaminated barrels nested in the sand. The upright barrel reads “FukuShima” in Kanji. The barrel laying down reads “Dharma”. To the left the scene is bounded by caution tape, reiterating the danger of the nuclear waste while also hosting alien archetypes, whose presence, as is the nature of these entities, runs up and just behind the consciousness of the psychedelic figure’s eggshell-like skull.
Cypher::Prophet
Cypher::Prophet is an artwork dedicated to the punk origins of blockchain designed and realized by hackatao and hex6c. In the transposition into images we started from the iconographic canons of the hacker (hoodie, laptop, cryptographic elements) and associated them with the figure of the prophet, thus highlighting the predictive nature of the works of Eric Hughes (Cypherpunk Manifesto, 1988) and Timothy C. May (Crypto Anarchist Manifesto, 1993) as well as of the blockchain inventors Stuart Haber and Scott Stornetta (How to Time-Stamp a Digital Document, The Journal of Cryptography, 1991). Read the full story on https://medium.com/@hex6c/cypher-prophet-the-punk-origins-of-blockchain-1e8fce311e72