Rise in NFT Sales Continues
In December, the trend of rising non-fungible token (NFT) sales continued, with a 57% increase compared to the previous week. This resulted in approximately $316 million in sales, despite a significant decrease in the number of buyers and sellers.
Bitcoin Dominates NFT Sales
NFTs linked to Bitcoin maintained their leading position in sales volume. In the first week of December, Bitcoin-related NFTs generated $121.34 million in sales, surpassing Ethereum-based NFTs, which reached sales of $100.83 million.
Surge in BTC-Based NFTs
Sales of BTC-based NFTs saw a significant surge of 171.80%, while Ethereum NFTs only experienced a modest increase of 6.66%. Other platforms recording notable NFT sales include Solana, Arbitrum, Polygon, and Immutable X.
Top NFT Collections
The top NFT collections of the week include Bitcoin’s “$SATS BRC-20” NFTs with sales of $21.88 million, Arbitrum’s “Sentry Node License” with sales of $12.33 million, and Bitcoin’s “Uncategorized Ordinals” with sales of $8.69 million. Four out of the top ten collections originated from Bitcoin.
Notable NFT Sales
A Vincent Van Gogh painting embedded in the Bitcoin blockchain sold for $1.19 million, and an old inscription on the Bitcoin blockchain traded for 10.4 BTC, equivalent to $463,000 at the time. On the Ethereum side, Fidenze #587 sold for $463,000, a Solana Boogle NFT was purchased for $149,000, and a Polygon Tribul #2 fetched $60,000.
Resurgence of NFTs
NFTs are experiencing a resurgence after a period of declining value. Previously dominant NFT collections, Bored Ape Yacht Club and Cryptopunks, have seen changes in their rankings.
Hot Take: NFT Sales on the Rise
Non-fungible token sales continue to soar, with a 57% increase in sales volume compared to the previous week. Bitcoin remains the top choice for NFT buyers, surpassing Ethereum in sales. BTC-based NFTs saw a significant surge, while Ethereum NFTs had a more modest increase. Top NFT collections from Bitcoin dominated the sales charts. Notable sales include a Vincent Van Gogh painting embedded in the Bitcoin blockchain and an old inscription sold for a significant amount of BTC. NFTs are making a comeback after a period of decline, with popular collections experiencing shifts in their standings.
Benito Cormi, the brilliant crypto analyst who has made waves in the world of cryptocurrency. With his razor-sharp analytical skills and deep understanding of the digital asset landscape, Benito has become a trusted figure in the industry and remains at the forefront, tirelessly researching and analyzing market trends to help individuals and businesses make informed decisions in this dynamic landscape.