12/04/2024 7-Day NFT Sales Increase by 37%, Bitcoin-Based Collections Lead

7-Day NFT Sales Increase by 37%, Bitcoin-Based Collections Lead

7-Day NFT Sales Increase by 37%, Bitcoin-Based Collections Lead
Sales volumes of non-fungible tokens (NFTs) recorded a more than 37% increase to $277 million in the seven-day period ending April 11. Six of the top 10 collections with the largest sales volumes were Bitcoin-based NFTs. Some experts attribute the renewed interest in NFTs to the rise of real-world assets and NFTs with built-in utility.

Wash Volumes, Transactions Decrease

According to the latest data from Cryptoslam, the seven-day sales volumes of NFTs as of April 11 were $277 million, a more than 37% increase from the sales recorded in the previous period. During this period, the Uncategorized Ordinals compilation led the NFT collections ranking by volumes with sales of just over $10 million. PUPs BRC-20 NFTs were ranked second with sales nearly topping $4.5 million.

Seven-Day NFT Sales Increase by 37 Percent; Bitcoin-Based Collections Lead

In total, six Bitcoin-based NFTs were among the top ten collections with the largest volumes. Two Solana-based collections, one each for Avalanche and Mythos, completed the top ten collections for the seven-day period under review. Bored Ape Yacht Club (BAYC), ranked 11th, was the highest-ranked Ethereum-based NFT with sales volumes of $794,500.

Meanwhile, the Cryptoslam data further shows that despite the surge in sales volumes, the number of transactions decreased by 21.65% to 1,676,393. In the same period, both wash volumes and wash transactions fell by 28.03% and 32.13%, respectively.

NFTs With Built-in Utility

As reported by Bitcoin.com News, NFT sales volumes had been declining before the uncharacteristic surge. Some experts believe the rise of real-world assets and NFTs with built-in utility may explain investors’ renewed interest in NFTs. Alina Krot, CEO of 10101.art, also linked the renewed interest to NFT innovations promising even better returns.

“Owning such NFTs grants access to exclusive communities, events, or in-game items, making them more attractive for individuals. Also, innovations, such as collective ownership of NFTs and integration with the Metaverse are drawing investor interest by offering new financial opportunities with a potential for higher returns,” Krot said.

Regarding the general decline of the NFT market, which has led some traditional companies and institutions to scale back or abandon NFTs, Krot attributed the cool-off to what she termed as oversaturation. The CEO added that as the NFT market matured, prices fell back to more realistic levels.

Looking ahead, Krot said the NFT market is anticipating a revolution in real-world assets, where art tokenization will become the trend.



Interesting NFTs
By OthersideDeployer
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.
Inner fountain
I'm connected to an infinite source of creative energy. Digital painting - Gif
Rare Apepe #6893
This Rare Apepe is an homage to Bored Ape #9128
The King
Part of a series of three artworks entitled "The Rulers". Inspired by the rulers of the animal kingdom, african mandalas & diamonds. A very complex digital illustration, each lion consists of hundreds of custom diamond shapes. Each background is an intricate custom mandala that compliments the lions facial features.