Non-fungible token (NFT) sales increased 41.96% over the previous month, based on data recorded on February 1, 2023. NFT sales reached nearly $1 billion in 30 days, totaling approximately $997, 53 million. Additionally, the number of transactions for digital collectibles increased by more than 22% in the past month.
Bored Ape Yacht Club dominates, Ethereum leads with 78% of total NFT sales in January 2023
NFT sales mirrored those of crypto assets in January 2023, reaching $997.53 million, an increase of 41.96% over December 2022. Data from cryptoslam.io shows that out of 20 blockchain networks, Ethereum led NFT sales with $784.87 million, or 78.681% of the total for the month.
Solana followed with $150.4 million in NFT sales in the last 30 days, representing 15.07% of the total. The other top five blockchain networks in terms of NFT sales are Cardano, Immutable X, and Polygon, respectively.
In terms of the best-selling NFT collections in January 2023, Bored Ape Yacht Club (BAYC) NFTs generated $71.24 million in sales. BAYC sales are up 45% since December. Mutant Ape Yacht Club (MAYC) sales increased 47.91% last month, generating $58.85 million in NFT sales.
Bored Ape Kennel Club (BAKC) NFT sales increased 309% over the prior month, with total sales of $42.33 million. The remaining major NFT collections in order are Azuki, Otherdeed, Art Blocks, Sorare, Degods, Captainz, and Hausphases.
The top five NFT collections generated $242.56 million in sales in January, representing 24.31% of total sales. The top ten NFT projects combined generated $336.26 million in sales, which is 33.70% of the $997.53 million in total sales for the month.
The most expensive NFT sold over the past month was BAYC #5,840, which sold for $796,444 four days ago. BAYC #4,025 sold 17 days ago for $613,501 and BAYC #8,483 sold for $581,845 three days ago. The fourth and fifth most expensive NFTs sold were Cryptopunk #9,092, sold for $496,903, and BAYC #8,483, sold for $490,333.
In terms of 30-day sales volume, Opensea led the pack with 40% of last month’s sales executed on the NFT marketplace. The NFT Blur marketplace captured 32% of 30-day sales and X2Y2 recorded 8% of sales for the month. Magic Eden NFT sales were around 7% of the settled transactions for the month, and Looksrare accounted for 2% of NFT sales in the last 30 days, according to dappradar.com statistics.
What do you think about the increase in NFT sales last month? How do you see the evolution of the future of NFTs and blockchain technology in the coming months? Let us know what you think about this story in the comments section below.
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