NFT Market Sees 16.39% Surge with 320K+ Buyers Participating

• Non-fungible token (NFT) assets saw a 16.39% increase in overall sales for the third week of January 2023, with 320,580 buyers participating in the NFT market action.
• Ethereum (ETH) dominated the market, with $206.06 million of the past week’s sales coming from the ETH chain. Theta, Fantom, Palm, and Wax were the blockchains that saw the largest seven-day gains in terms of NFT sales.
• The top NFT collectible sales during the trailing seven day period included Mutant Ape Yacht Club (MAYC), Bored Ape Yacht Club (BAYC), Bored Ape Kennel Club (BAKC), Azuki, and Otherdeed.

The non-fungible token (NFT) asset market saw a surge in activity this past week, as the third week of January 2023 closed out with a 16.39% increase in overall sales. A total of 320,580 buyers participated in the NFT market action, a 43.48% increase compared to the week prior. A total of $256.69 million in NFT sales were recorded over the last seven days, with $206.06 million being Ethereum-based NFTs.

Ethereum (ETH) was the leading blockchain network in terms of NFT sales, with $206.06 million of the past week’s sales being attributed to the ETH chain. This represents an increase of 24.78% over the last week. The second-leading blockchain in terms of NFT sales this week was Solana (SOL), which had $36,378,730 in NFT sales. However, despite this figure, Solana NFT sales were down 10.44% compared to the previous week.

The blockchains that saw the largest seven-day gains in terms of NFT sales were Theta, up 239%; Fantom, up 144%; Palm, up 97%; and Wax, up 73% this week. The top NFT collectible sales during this period included Mutant Ape Yacht Club (MAYC), Bored Ape Yacht Club (BAYC), Bored Ape Kennel Club (BAKC), Azuki, and Otherdeed. The top three most expensive NFTs sold this week were an original piece of art, a rare digital collectible, and a limited edition digital art piece.

This surge in NFT asset sales demonstrates the growing interest in digital ownership, as investors, collectors, and enthusiasts continue to explore the potential of blockchain technology. NFTs provide a unique way to own, collect, and trade digital assets and are becoming more popular as blockchain technology matures and more projects are launched. With the continued growth of the NFT asset market, it is likely that more investors and traders will continue to explore the possibilities that digital ownership provides.