$1.7 Billion in NFT Sales Fueled by Otherdeed Trades — NFT Volume Jumps 74% Higher Than Last Week – Bitcoin News

News

$1.7 Billion in NFT Sales Fueled by Otherdeed Trades — NFT Volume Jumps 74% Higher Than Last Week

With the help of the Bored Ape Yacht Club’s Otherside land sale, non-fungible token (NFT) sales have increased a great deal this week. NFT sales increased 74.77% during the last seven days, capturing $1.71 billion in sales volume among 266,918 traders.

7-Day NFT Sales Volume Jumps 74% to $1.71 Billion, Otherdeed NFT Collection Captures $787 Million in Global Sales

NFTs have done well this week as far as sales are concerned, and across 1,075,588 transactions during the last seven days, $1.71 billion in sales volume has been recorded. The sales volume is 74.77% higher than the $981 million in NFT sales recorded last week.

$1.7 Billion in NFT Sales Fueled by Otherdeed Trades — NFT Volume Jumps 74% Higher Than Last Week
7-day NFT sales on May 6, 2022. Stats from cryptoslam.io NFT analytics.

The $1.71 billion stemmed from 16 different blockchain networks, and Ethereum saw an 86.30% increase in ETH-based NFT sales this week. NFT sales that derived from the Polygon blockchain jumped 87.66% higher than the week prior as well. Fantom-based NFTs also saw a notable double-digit week-long percentage increase of around 52.47%.

Some of the most expensive NFT sales this week were sold for prices between $852.5K and $1.12 million. The top NFT collectible sale during the last seven days was Bored Ape 17, which sold for 410 ether or $1.12 million. The second most expensive NFT sale this week was Bored Ape 2980, which sold for 381 ether or just over $1 million.

$1.7 Billion in NFT Sales Fueled by Otherdeed Trades — NFT Volume Jumps 74% Higher Than Last Week
The top two most expensive NFT sales this week. Stats stem from cryptoslam.io NFT analytics.

The next three that followed the two Bored Ape Yacht Club (BAYC) sales were all Otherside deeds. Otherdeed 33 sold for 333.33 ether or $979K, Otherdeed 24 sold for 333 ether or $952K, and Otherdeed 9 sold for 300 ether or $852.5K.

$1.7 Billion in NFT Sales Fueled by Otherdeed Trades — NFT Volume Jumps 74% Higher Than Last Week
The top five NFT collections in terms of sales volume this week. Stats from cryptoslam.io NFT analytics.

The Otherdeed NFT collection sales took the top position this week as far as the top sales volume is concerned. 16,384 Otherdeed NFT buyers spent $787.55 million across 30,752 transactions. The second position was held by BAYC which captured $153.7 million in seven-day sales, up 94.93% since last week.

Mutant Ape Yacht Club (MAYC) saw a 39.41% increase this past week with $126.4 million in global sales. The NFT collection Beanz took the fourth spot, jumping 388.31% and capturing $69.59 million in sales volume. The fifth most prominent in terms of seven-day sales was Doodles, which increased 222.34% since last week to this week’s $43.1 million in sales.

BAYC still has the most expensive floor value out of all the NFT collections today, with its 104.8 ETH floor value. BAYC is followed by Proof Collective (94.1 ETH), Cryptopunks (60.95 ETH), Bored Ape Chemistry Club (47.49 ETH), and Moonbirds (26.0 ETH).

All of the top five NFT collection floor values have dropped 8 to 16.1% since last week. The only NFT collection that saw a seven-day floor price increase last week was Doodles, jumping 3.1% higher to 22.77 ETH.

Tags in this story
7-day NFT sales, Beanz, Bored Ape Yacht Club, cryptopunks, cryptoslam.io, Doodles, Ethereum, floor price, MAYC, Moonbirds, Mutant Ape Yacht Club, nft, NFT collection, NFT collections, NFT sales, NFT sales volume, NFT weekly sales, NFTs, Non-fungible Token, Otherdeeds, Otherside Land Sale, sales, Sales Volume

What do you think about this week’s NFT sales increasing 74.77% higher than last week’s sales? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer
Show comments