Investors Still Find Value in NFTs
Despite recent claims that the non-fungible token (NFT) market is nearly worthless, institutions and investors still see digital collectibles as valuable assets. In a recent sale, a CryptoPunks NFT was sold for over $1 million, demonstrating the continued value of these digital assets.
A CryptoPunks NFT Sells For $1.1M
Data from Etherescan.io confirmed that CryptoPunks #7458 was sold for 600 ETH or $1,127,520. The buyer paid a $6.94 transaction fee and a 37 Gwei gas fee. This sale comes after a study found that 95% of NFTs were nearly worthless, leaving many investors with worthless assets.
However, the recent sale indicates a resurgence in the NFT market and renewed interest from investors.
The NFT Market Health Check
According to data from CryptoSlam.io, the NFT market has shown signs of recovery. In the past 24 hours, the NFT market recorded a trading sales volume of $18 million, representing a 45% increase from the previous day.
Ethereum-based NFTs have seen a significant increase in trading sales volume, while other platforms like Mythos Chain, Solana, Polygon, and Cardano have also experienced growth in NFT trading.
Five Most Selling NFTs Right Now
1. CryptoPunks
CryptoPunks, an NFT collection featuring 10,000 assets on the Ethereum network, has amassed a trading sales volume of $4.0 million in the past 24 hours.
2. DMarket NFTs
DMarket on the Mythos chain network has recorded a trading sales volume of $1.1 million in the past 24 hours.
3. Mutant Ape Yacht Club NFTs
Mutant Ape Yacht Club’s NFT collection hosted on Ethereum has recorded a trading sales volume of $653,828 in the past 24 hours.
4. Cryptoadz NFT
Cryptoadz has garnered a trading sales volume of $639,515 in the past 24 hours.
5. Bored Ape Yacht Club NFTs
Bored Ape Yacht Club’s NFT collection hosted on Ethereum has recorded a trading sales volume of $638,231 in the past 24 hours.
Hot Take: The Future of NFT Investments
The recent surge in NFT sales volumes demonstrates that these digital assets continue to hold value for investors. As more platforms and collections emerge, it’s clear that there is still significant interest and potential for growth in the NFT market.
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