The non-fungible token market has collapsed again, with its trading sales volume plunging 12% again this week. The NFT crash is part of the wider general crypto sector wipeout, which has left most crypto assets, including the flagship crypto, Bitcoin, down in market price value. In this article, we shall assess the state of NFTs in the past seven days.
NFT Sales Fall 12% This Week
Data fetched by CryptoSlam.io , an on-chain crypto market data aggregator and non-fungible token explorer, shows that the global non-fungible token market has plunged again in trading sales volume this week. The global NFT market has amassed a trading sales volume of $90 million in the past seven days. The NFT market crash has revealed the pitfalls and challenges of the industry.
Ethereum is a decentralized blockchain platform that establishes a peer-to-peer network and renowned in the non-fungible token market for powering most blue-chip NFT collections, is this week’s top-traded blockchain network in the NFT market. In the past seven days, the Ethereum-based NFT collections have raised a trading sales volume of $34 million. Ethereum NFT trading sales volume has surged 9.92% this week from the past week.
Solana, an open-source blockchain that supports smart contracts, including non-fungible tokens and various decentralized applications, is this week’s second most-traded blockchain network in the NFT ecosystem. In the past seven days, the Solana-based NFT collections have attracted a trading sales volume of $17 million. Solana NFT trading sales have fallen 30% this week from the past week.
Bitcoin, the same blockchain network powering the flagship crypto Bitcoin and renowned in the NFT market for hosting Bitcoin ordinals, Runes and BRC-20 non-fungible token collections, is this week’s third most-traded blockchain network in the NFT ecosystem. In the past seven days, the Bitcoin-based NFT collections have attracted a trading sales volume of $14 million. Bitcoin NFT trading sales volume has fallen 17% this week from the past week.
Polygon, an Ethereum scaling solution blockchain network, is this week’s fourth most-traded blockchain network in the NFT market. In the past seven days, the Polygon-based non-fungible token collections have raised a trading sales volume of $8.7 million. Unlike Ethereum, Polygon NFT trading sales volume has plunged by 9.80% this week compared to the past week.
Immutable X, the leading platform for building web3 games on Ethereum and BNB Chain, a blockchain network that supports smart contracts and decentralized applications from the crypto exchange Binance, are this week’s fifth and sixth most-traded NFT blockchain networks. In the past seven days, the Immutable X -based NFT collection has amassed a trading sales volume of $4.9 million, while BNB Chain-based NFT has raised a trading sales volume of $3.7 million.
Top Selling NFT Collections This Week
1. Sorare NFT Collection
Sorare, a non-fungible token collection from the play to win fantasy digital trading cards, Sorare, featuring the world’s best global football players, is this week’s most-selling NFT collection. In the past seven days, the Sorare NFT collection has raised a trading sales volume of $3.8 million. Sorare NFT trading sales volume has surged 42% this week from the past day.
2. DogeZuki NFT Collection
DogeZuki, a new non-fungible token collection featuring a fixed supply of 2,800 Shiba Inu-inspired digital items hosted on the Solana blockchain network, is this week’s second most-selling NFT collection. In the past seven days, the DogeZuki NFT collection has recorded a trading sales volume of $6.5 million. The DogeZuki NFT trading sales volume has surged 3.5% this week from the past week.
3. Guild Of Guardians NFT Collection
Guild of Guardians, a non-fungible token series from Guild of Guardians, a renowned NFT RPG that allows players to take teams of heroes through challenging dungeons to collect redeemable resources, is this week’s third most-selling NFT collection. In the past seven days, the Guild of Guardians NFT collection has attracted a sales volume of $3.2 million. The Guild of Guardians NFT trading sales volume has surged 5.52% this week from the past week.
4. Bored Ape Yacht Club NFT Collection
Bored Ape Yacht Club, a non-fungible token collection managed by the digital asset incubation studio Yuga Labs that features a limited supply of 10,000 NFTs hosted on the Ethereum blockchain network, is this week’s fourth most-selling NFT series. In the past seven days, the Bored Ape NFT collection has raised a trading sales volume of $3.2 million, up 135% from the past week.
5. CryptoPunks NFT Collection
CryptoPunks, another non-fungible token collection managed by the digital asset incubation studio Yuga Labs that features a limited supply of 10,000 NFTs hosted on the Ethereum blockchain network, is this week’s fifth most-selling NFT series. In the past seven days, the Bored Ape NFT collection has raised a trading sales volume of $3.2 million, up 135% from the past week. The NFT market is expected to retest some revival in the coming days.
Related NFT News:
- Sports Apparel Giant Adidas Sets To Launch A New NFT Avatar Collection In Q4,2024
- Yuga Labs Joins NFT Artist Cory Van Lew To Launch An Art Program For Children In Miami
- NFT Sales Fall 36% In July – Here’s What You Should Expect In August 2024
