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.

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 Harvest
An anthropomorphic figure stands, wide eyed, staring at the viewer; its body masculine, muscular, and humanoid. Its “mind” dissociates into a conglomerate of structures resembling feathers, grain, teeth–as well as a radial flower “node”, casting linear rays throughout the composition. To his left, a vat of bodies gesture and writhe in a kind of amniotic soup, attended by a video game robot. The bot's red display reads “uWu”. Behind the robot and filling the left side of the composition is an archaic figure composed of a variety of vintage objects and symbols. Among them are a hardbound book with ancient cuneiform scripts, indicating barley, beer, bread, ox, house, and sky, behind which is a grimacing, salivating jagged toothed maw; and an old Commodore floppy drive. The figure’s head tilts toward an illuminated crescent moon, suggesting the Egyptian Sacred Bull. The archaic figure is composed of a variety of mutating cells, which shift in color, and pattern; eventually breaking free into an ephemeral broadcast of bubbles which move across the background. The work came into being against a psychological introspection, which included associations to pop culture such as alien abduction and pod people, as well as quite a bit of reflection on grains as a symbol of civilization, agriculture, sustenance, life, and imbibing (mainly whiskies).
Alex in Wonderland
A figure, Alex, stands mostly naked in the midst of a physical and psychological maelstrom. He is clad only in nostalgic 80’s era socks, on a tenuous island between active waters and a variety of shark denizens. Sharks on the right side of the image are all beached, including a shark with a quartz crystal snout, an orange shark wrapped in a life buoy, and a shark further in the distance wearing an 80’s style shirt with the number “88”. On the left side is the largest shark, wearing bright glossy red lipstick and brandishing prominent teeth with braces. She is cordoned off from the figure by a roped float divider, and within her thought bubble is a warning symbol. Behind the figure, hovering in the air, are Grey aliens emerging from the distance, out of a series of elliptical UFO shaped interdimensional membranes. The Greys take on the visual form of spermazoa ostensibly impregnating the interdimensional thresholds. As is typical, these Greys inhabit a zone just behind the unconscious topology of Alex’s dissociative mind. Though Alex’s bottom half is representative, his top half mutates into a psychological cornucopia. In a manner akin to “Auto-Erotic Sphinx”, a predecessor work, the figure has self suctioned—an act of sensual infatuation, enjoyment, and exploration. Upward exists the figure’s primary conscious eye, adorned with a revolutionary beret emblazoned with a Bitcoin badge. The figure’s summit features the nose of a fighter jet facing off against video game Bullet Bills, one of whom is marked by a communist North Korean star. A cropped section of a UFO observes the contest. Alex’s mind branches both left and right. To the left is more singular embodied consciousness, manifesting two eyes and a Ganesh trunk grasping crayons. The right branch dissociates upward diagonally, emerging into an array of eyes, faces, teeth, tail, a unicorn horn, and much more—all of which participate in expressing his unconscious being; a democracy of psychic factions representing thought impressions and associations. All illumination and darkness– fernal, infernal, high consciousness and corporeal underbelly–reside in this realm. In the distance are relatively languid, light clouds, and against the firmament hovers a colossal distant eye peering over the scene and far beyond. This painting possesses underlying genetic traits with previous works such as “Auto-Erotic Sphinx with Toys”, “Dionysus”, and “Fuku-Shiva”. The work serves also as a nod to an earlier period of art inspiration during late teens and early twenties— born out of the nakedness, vulnerability, curiosity, and wonder inherent to coming of age and all subsequent psychedelic revelation.
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By OthersideDeployer
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