NFT Sales Jumps to Whooping 161% This Week

In the past 7 days alone, approximately 2.5 billion dollars NFT sales have been concluded which reflects a whopping increase in the sales by 161%. Almost all of the NFT sales were carried out through the Ethereum blockchain while only a fraction of the sales were hosted by Solana.

Even in 2022, the market of Non-Fungible Tokens (NFTs) is proving itself to be one of the best addition in the digital industry. In the last seven days, there had been NFT sales worth more than US$ 2.53 Billion.

There are currently more than 10 blockchain networks that are actively involved in NFT sales. However, none of them can even come closer to the Ethereum network as Ethereum is currently the top blockchain network for NFTs. Out of these US$ 2.53 Billion NFT sales, Ethereum successfully hosted sales of approximately US$ 2.45 Billion. At present, NFTs sales are up by 161% since last week while Ethereum’s NFT sales have surged by 184%.

The past week was promising for Solana also as the network was the second after Ethereum had concluded NFT sales of US$ 31.9 Million. However, Solana’s NFT sales were 36% down from the past week. Similarly, the Ronin network was able to pull off NFT sales of US$ 28 Million but sales were actually down by 22 since last week. A fourth and fifth were the blockchain networks of Flow and WAX. Both were able to host NFT sales of US$ 14 Million and US$ 3 Million respectively. They both saw their NFT sales going up by 1.04% and 17.1% respectively.

The blockchain network of Theta however was in the limelight after Ethereum in terms of NFT sales. The network sold US$ 14.88 Million worth of NFTs and saw its NFT sales going up by 490.39%.

The most expensive NFT collection past week was that of “Meebit”, particularly #13824. At Ethereum network alone, Meebit’s NFT collection was sold at a whopping sale price of US$ 15,000 Ether coins, which comes to US$ 50.61 Million. The second most expensive NFT was once again belonged to Meebit which was also sold at Ethereum for 14,730 Ethers i.e. US$49.25 Million.

For Meebits, the NFT collection saw an increase in sales by 31,948% in the past seven days. There were a total of 2,199 transactions of Meebit NFT sales which involved at least 574 traders. Out of US$ 2.5 Billion NFT sales, more than US$ 1.23 Billion stemmed from Meebit sales.

NFT market skyrocketed in the year 2021 and to date has become a multi-billion dollar market in a very short time. Most of the NFT sales have been taking place on the Ethereum network as well as against payment of Ether coins as well. The market is expecting business to grow more than double since 2021.

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