NFT SOLD FOR $92 MILLION! 🤯 Is The NFT Market Back from the Dead? 👇
NFT sales surged to $84.5 million in the week ending October 6, marking the highest volume since August! The number of NFT buyers increased by 22% from the previous week (+840'000) while the number transactions surged by 71% (+ 2 mio). In my opinion, this recent spike represents a temporary boost, NFT trading volumes on major blockchains like Bitcoin, Ethereum and Solana are still on a decline. The broader NFT market remains well below its peak, with September's total monthly sales at $300 million, down from August’s $370 million.
The peak of the NFT market occurred in late August 2021. During that period, weekly NFT sales volumes reached an all-time high of over $2.2 billion. Several high-profile NFT sales contributed to this peak. For example: The Merge NFT was $91.8 million, Everydays: the First 5000 Days was sold for $69.3 million and the CryptoPunk #5822 was sold for $24 million!
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