NFT Market Surges to $130.7M as New Collection Skyrockets 470%—Because We Definitely Needed More JPEGs

The NFT market just punched through $130.7 million in sales—proof that digital collectibles still have legs (or at least pixelated limbs). One new collection stole the show with a 470% explosion, because nothing says ’store of value’ like cartoon apes and procedurally generated punks.

Meanwhile, traditional finance bros are still trying to explain why their ’diversified portfolios’ are underperforming a jpeg of a smoking turtle. The future is weird.

• NFT market sees renewed interest with a 135% increase in buyers and a new collection, XSY Deposit, experiencing a massive 470% surge in sales.

• Ethereum remains the dominant blockchain for NFT sales at $41.3M, while Bitcoin rises to second place with a 53.53% growth in sales.

• Despite a 31.02% sales drop, Courtyard on Polygon holds its #1 collection ranking, while BRC-20 NFTs and Cryptopunks show significant growth.

The latest CryptoSlam data shows that there has been a strong renewed interest in the NFT market. Buyers of digital collectibles increased by nearly 135% to 261,548 while sellers ROSE by about 94.22% to 140,985.

In addition, there was a 1.35% gain in NFT transactions to about 1.52 million.

Ethereum Dominates NFT Market with $41.3M in Sales

With a 21.47% increase in sales to $41.3 million from the previous week, ethereum maintains its position as the leading blockchain for NFTs. The CryptoSlam data shows a 14.85% decrease in this blockchain’s wash trading to $4.5 million.

Bitcoin rose to the second place after sales grew by 53.53% to $22.6 million. Polygon occupies the third position with $14.5 million in sales, indicating a 22.85% drop in sales compared to the previous week.

Meanwhile, there was a notable increase in Polygon’s wash trading. It increased by 60,536% to almost $1.6 million.

NFT sales volume by blockchains. Source: CryptoSlam

Mythos Chain and solana occupy the fourth and fifth positions, with $13.3 million and $8.9 million in sales, respectively. While the former recorded a 19.62% drop in sales, the latter had a 17.31% increase in sales.

All the blockchains had an increase in the number of buyers. The three blockchains with the largest percentage rise in the buyer count were Bitcoin (275.4%), Immutable (266.46%) and Solana (237.33%).

Courtyard Stays #1 as BRC-20 NFTs, Cryptopunks and XSY Deposit Make Big Moves

From the collection table, Courtyard (on the Polygon blockchain) has maintained its number one position even after recording a 31.02% drop in sales. There was also a drop in all the metrics of this collection.

Number of transactions dropped by 31.82%, with buyers and sellers decreasing by 13.54% and 35.26%. Dmarket on Mythos also retained its second position with $8.2 million in sales even though it represents a 23.75% drop from the previous week.

After a 114.58% increase, BRC-20 NFTs on the Bitcoin blockchain rose to the third position with $7.1 million in sales. Cryptopunks is in fourth position after its sales grew by 97.09% to $7 million.

Like Courtyard, CryptoPunks also recorded significant positive changes in transactions, sellers and buyers. Transactions rose by 52.94% while sellers and buyers climbed by 62.5% and 45.83%.

XSY Deposit on the Avalanche blockchain was the new entrant in the top five. Its sales grew by 469.59% to $6.8 million.