NFT Market Booms: Sales Surge 17% to $130.7 Million Amid New Collection Success
May 20
2 min read
The NFT market has experienced a significant resurgence, with sales climbing 17% to reach $130.7 million. This growth is fueled by a remarkable 470% increase in sales from the new collection, XSY Deposit, alongside a notable rise in buyer participation across various blockchains.
Key Takeaways
NFT sales volume increased by 17.16% to $130.7 million.
Buyer participation surged by 138.96%, reaching 259,264.
Ethereum remains the leading blockchain for NFT sales, totaling $41.3 million.
New collection XSY Deposit saw a staggering 470% increase in sales.
Courtyard maintains its top position despite a 31.02% drop in sales.
NFT Market Overview
According to data from CryptoSlam, the NFT market is witnessing a revival despite fluctuations in the broader cryptocurrency market. The number of NFT buyers has surged by nearly 135%, while sellers have increased by about 94%. This uptick in activity has led to a slight increase in NFT transactions, totaling approximately 1.52 million.
Blockchain Performance
Ethereum continues to dominate the NFT landscape, generating $41.3 million in sales, marking a 21.47% increase from the previous week. Following Ethereum, Bitcoin has made significant strides, with sales rising 53.53% to $22.6 million. Polygon, however, has seen a decline, dropping to third place with $14.5 million in sales, a decrease of 22.85%.
Blockchain | Sales ($ Million) | Change (%) |
|---|---|---|
Ethereum | 41.3 | +21.47 |
Bitcoin | 22.6 | +53.53 |
Polygon | 14.5 | -22.85 |
Mythos Chain | 13.3 | -19.62 |
Solana | 8.9 | +17.31 |
Collection Rankings
In terms of collections, Courtyard on Polygon remains the top performer, despite a 31.02% decline in sales to $11.7 million. DMarket follows in second place with $8.2 million, while Bitcoin's BRC-20 NFTs have surged to third place with $7.1 million in sales, reflecting a 107.81% increase.
CryptoPunks has also shown impressive growth, moving to fourth place with $7 million in sales, a 97.09% increase. The newcomer, XSY Deposit, has made a remarkable entry into the rankings, achieving $6.8 million in sales, a staggering 469.59% increase.
Notable Sales
This week has also seen some high-value NFT transactions, including:
Known Origin #30101 sold for 410,532.56 USDC ($410,532)
CryptoPunks #3281 sold for 148 ETH ($384,286)
CryptoPunks #1507 sold for 80 ETH ($204,711)
CryptoPunks #9460 sold for 81 ETH ($202,324)
Mutant Ape Yacht Club #30001 sold for 194,815.05 USDC ($194,815)
Conclusion
The NFT market's resurgence is indicative of a growing interest in digital collectibles, driven by new collections and increased buyer engagement. As the market continues to evolve, it will be interesting to see how these trends develop and what new opportunities arise for collectors and investors alike.
Sources
NFT Sales Climb To $130.7M, New Collection Dominates With 470% Rise, TronWeekly.
NFT sales jump 17%, Newcomer collection boasts 470% spike, Crypto News.
NFTs Surge 69% to $4.8B as Web3 Gaming Recalibrates Utility, CCN.com.
Doodles NFT sales surge 97% ahead of DOOD token airdrop, Cointelegraph.