Non-fungible token (NFT) sales increased slightly last week, with a 1.46% rise compared to the preceding week. The total value of NFT sales amounted to $149.31 million from April 29 to May 6, 2023. However, this week saw sales skyrocket by 31.22%, reaching $208.17 million. The surge in NFT sales can be attributed to the emergence of NFTs from the Bitcoin blockchain.
Bitcoin NFT sales have become a major contributor in the digital collectible sales landscape, according to cryptoslam.io data on May 14, 2023. Ethereum NFT sales still dominated with $111.26 million, but Bitcoin-based NFTs, also known as Ordinal inscriptions, secured the second-place spot. Data shows that Bitcoin NFT sales earned $53,433,451 and jumped 187.54% compared to the prior week.
Mythos blockchain’s NFTs also experienced a significant raise, with sales increasing 69.66% to total $11.73 million this week. This propelled Mythos into the third-largest rank regarding top blockchains by NFT sales volume. Solana occupied the second-largest spot, but now stands at fourth, recording $8,789,106 – a reduction of 21.16% compared to the previous week. Polygon’s NFT sales amounted to $7.79 million, decreasing by 7.07%.
Regarding NFT collections, “Uncategorized Ordinals” achieved the top collection status, accumulating $15.62 million in sales. Ethereum’s Bored Ape Yacht Club (BAYC) came in at second with $13.80 million in overall sales. The Mythos chain’s Dmarket collection took third place, with the majority of Mythos’ NFT sales stemming from the Dmarket collection’s transactions. ORDI BRC-20 NFTs earned $11,044,110 and Ethereum’s Milady Maker NFT collection amassed $10,376,102, ranking fourth and fifth respectively.
Bitcoin-based Space Pepes saw a 2,142.35% spike in sales, reaching $4,607,834 in the past seven days. A single NFT from the series was sold for $4.5 million, making it the most expensive sale of the week. The remaining top five most valuable NFT sales in the past week all belonged to the Uncategorized Ordinals category.
The recent surge in NFT sales and the impact of Bitcoin-based NFTs suggest a promising future for the industry.