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.

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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.

Arts

https://news.bitcoin.com/7-day-nft-sales-increase-by-37-bitcoin-based-collections-lead/

Interesting NFTs
Auto-Erotic Sphinx with Toys
In this image, a giant sphinx spoons itself in erotic play within an aquatic styled environment littered by various denizens. These creatures include symbols and archetypes both current and nostalgic–each inhabiting a rootedness within mass cultural adolescence. Among the roster are Servbots, video game inspired mushrooms, a Pacman-like creature, a distant sea faring rubber duck, creatures sporting the symbols reminiscent of popular anime, and a Pokemon-like rabbit (a novel incarnation of Ganesha indicated by the Shiva trident on its nose). In addition, a few sea creatures partly inspired by sea monsters of western antiquity conglomerate along the mid left side of the composition. The Sphinx itself is an amalgam of aquatic, fetishist, ancient Egyptian, and 80’s style adornments, both living, as in a clown fish, or material, such as a cassette tape. Nautically colored antennae receive somatic signals from the atmosphere, perhaps from the 8 Ball moon or giant ringed planet beyond.
Wink
The eye of providence blinks. Originally posted to tumblr June 26, 2012.
Magnetic Forces v3
"El imĂĄn humilla al hierro. Es una teorĂ­a sobre el amor. Magnets humiliate iron. It's a theory about love." --Marco Denevi
The Scion
A young figure caught in a moment of distraction, aware only ephemerally of his unconscious being, as it engages in psychological and psychedelic layer spaces. His right arm casually cradles a moray eel; the figure is comfortable but not truly aware of the potentials for danger in such negligence. His shirt reads “Bello” in Pokemon style font, harkening back to a childhood straddling the millennial threshold. To his right side, out of the unconscious deep, shrouded alien heads propagate as a fractal totem, each new iteration a more sophisticated rendering of emotional masking over the cold mystery of the greys. As the scion of the Budgie-Sattva, the young man, in his distraction, is also simultaneously aware of higher levels of self discovery. To his left a psychological topology sets beneath the oracle side of an 8 ball ,hovering; its message a purest concept of acceptance. The “Scion” lettering is in 80’s HeMan style bold declaration. The lower right side of the painting is like a hybrid of melon, feathers, and seeds. The crystals in the background bring light; conducted, refracted, reflected, and dispersed, to balance the dark shadow of the figure’s physical body. The aura of the scion succeeds in layers to point, with a finger, and the crown chakra, toward a center of a mandala existing as nigh pure application of strokes, in essence painterly abstraction, but also revealing hints of the Aura of migraine, and the bi-hemispherical nature of the brain–noting concerns of the possibility of inherited mental disease. Yet the flourish of chakra as it sets against that center is robust, active, coherent, and reveling against all fear. Fundamentally, the piece speaks to the activation of one’s potential to begin to “Know Thyself”, and find greater awareness out of the enigmas of the mind–as an inculcated seed given to the rich soil of one’s own birthright.
CryptoKitties
Hi-ya! I'm Kitty #418365. All you need to know about me is I hate chocolate with a passion. I am 6% fairy, 4% Culinary Sanitation Specialist, and otherwise bad at math. Can't wait to eat hamburgers with you!