Non-fungible tokens have showcased strong resilience this past week despite their market facing tough volatility, which has left Ethereum and Solana-based non-fungible token collections down in trading sales volume. In this article, we shall assess the state of the NFT market in the past seven days, as well as what people should expect in the coming weeks.
NFT Sales Dip 0.77% This Past Week
Data compiled by CryptoSlam.io, an on-chain crypto market data aggregator and a multi-chain non-fungible token collection explorer, shows that the global non-fungible token market has showcased strong resilience this past week. In the past seven days, the global NFT market has attracted a sales volume of $106 million, representing just a 0.77 % decrease from the previous week.
Nonetheless, the number of investors buying non-fungible token collections has somewhat risen this past week. In the past seven days, the non-fungible token market has seen more than 500,000 crypto traders buying NFTs. This figure has surged by 37% from the previous week, pushing the number of transactions above 2.7 million.
Ethereum, the blockchain network hosting Ether and renowned in the NFT market for powering the majority of blue-chip non-fungible token collections, was last week’s top-traded blockchain network in the NFT market. In the past seven days, the Ethereum-based NFT collections have raised a trading sales volume of $31 million, down 0.65% from the previous week.
Solana, a public, open-source blockchain that supports smart contracts, including non-fungible tokens and various decentralized applications, was last week’s second most-traded blockchain network in the NFT market. In the past seven days, the Solana-based NFT collections have raised a trading sales volume of $22 million, down 16.27% from the previous week.
Bitcoin, the blockchain network renowned in the NFT market for powering Ordinals and BRC-20 non-fungible token collections, was past week’s third most-traded blockchain network in the NFT ecosystem. In the past seven days, the Bitcoin-based NFT collections have attracted a sales volume of $16 million, down 20.09% from the previous week.
Polygon, an Ethereum scaling solution blockchain network, was last week’s fourth most-traded blockchain network in the NFT market. In the past seven days, the Polygon-based non-fungible token collections have raised a trading sales volume of $15 million. Unlike the Ethereum, Solana, and Bitcoin networks, Polygon NFT trading sales volume has surged by 77% this past week compared to the previous week.
Immutable X and Mythos Chain, renowned layer two (L2) networks for building web3 games on Ethereum, were past week’s fifth and sixth most-traded blockchain networks in the NFT market. In the past seven days, Immutable X –based NFT collection has amassed a trading sales volume of $6.6 million, while Mythos Chain-based NFT have raised a trading sales volume of $4.3 million.
Top Selling NFTs In The Past 7 Days
1. DMarket NFT Collection
DMarket, a non-fungible token collection from the virtual asset market platform DMarket hosted on Mythos Chain, was last week’s most-selling NFT collection, dethroning the Solana Monkey Business. In the past seven days, the DMarket NFT collection has raised a trading sales volume of $4.1 million. During this period, the DMarket NFT sales volume has surged 2.68% from the previous week.
2. Solana Monkey Business NFT Collection
Solana Monkey Business, a non-fungible token series created on the Solana blockchain network featuring a limited edition of 5,000 randomly generated 24×24 pixel monkey NFTs, was this past week’s second most-selling NFT collection. In the past seven days, the Solana Monkey Business NFT collection has amassed a trading sales volume of $3.6 million. The SMB NFT sales volume has reduced by 37% from the previous week.
3. Guild Of Guardians NFT Collection
Guild of Guardians, a non-fungible token series from Guild of Guardians, a renowned NFT RPG that allows players to take teams of heroes through challenging dungeons to collect resources, was past week’s third most-selling NFT series. In the past seven days, the Guild of Guardians NFT collection has attracted a sales volume of $3.6 million. The Guild of Guardians NFT sales have surged 202% this past week from the previous week.
4. DogeZuki NFT Collection
DogeZuki, a non-fungible token collection with a fixed supply of 2,800 Shiba Inu-inspired NFT items hosted on the Solana blockchain network, was again past week’s fourth most-selling NFT collection. In the past seven days, the DogeZuki NFT collection has recorded a trading sales volume of $3.3 million. However, the DogeZuki NFT sales volume has surged 7.91% from the previous week.
5. Sorare NFT Collection
Sorare, a non-fungible token collection from Sorare, a global fantasy football game that allows users to trade, collect, and manage a virtual team with digital player cards, was past week’s fifth most-selling NFT collection. In the past seven days, the Sorare NFT collection has raised a sales volume of $2.5 million. Sorare NFT trading sales volume has surged 35% this past week from the previous week.
6. Genesis Ape NFT Collection
Genesis Ape, a non-fungible token collection featuring a fixed edition of 10,000 created on the Polygon, an Ethereum scaling solution, was past week’s sixth most-selling NFT collection. In the past seven days, the new Genesis Ape NFT collection has raised a trading sales volume of $2.45 million.
7. Gods Unchained NFT Collection
Gods Unchained, a non-fungible token collection from Gods Unchained, a digital trading card game that allows users to trade cards, purchase, or earn for real-world currency, was last week’s seventh most-selling NFT collection. In the past seven days, the Gods Unchained NFT collection has raised a sales volume of $2.4 million. The Gods Unchained NFT sales volume has plunged 36% this past week from the previous week.
8. NodeMonkes NFT Collection
NodeMonkes, a non-fungible token collection that features a limited edition of 10,000 NFTs inscribed on the Bitcoin blockchain network, was past week’s eighth most-selling non-fungible token collection. In the past seven days, the NodeMonkes NFT collection has recorded a trading sales volume of $2.3 million. NodeMonkes NFT sale volume has surged 21% from the previous week.
9. CryptoPunks NFT Collection
CryptoPunks, a non-fungible token collection managed by the digital asset incubation studio Yuga Labs that features a limited supply of 10,000 NFTs hosted on the Ethereum blockchain network, is this week’s ninth most-selling NFT series. In the past seven days, the CryptoPunks NFT collection has raised a trading sales volume of $2.2 million, up 129% from the previous week.
10. Bitcoin Puppets NFT Collection
Bitcoin Puppets, a non-fungible collection that features a limited edition of 10,001 unique PFPs (profile pictures) hand-drawn in MS Paint by a 12-year-old hosted on the Bitcoin network, was past week’s tenth most-selling NFT collection. In the past seven days, the Bitcoin Puppets NFT collection has raised a trading sales volume of $2 million, down 7.58% from the previous week.
The NFT Market Prediction This Last Week Of July
Having showcased strong resilience this past week, the non-fungible token market is expected to experience another positive growth this week. In the coming months, revenue in the NFT market is projected to continue growing and reach $2.3 billion in 2024 at an annual growth rate of 9.10%. The average revenue per user in the NFT market is expected to reach $138.8 in 2024.
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