NFT Sales Across 18 Blockchain Networks Surpasses $36 Billion – NFT News

NFT News – According to data released this week, the total value of non-fungible token (NFT) sales across more than a dozen distinct blockchains has topped $36 billion. 

While 18 competing blockchains offer NFTs, Ethereum-based NFT sales account for over 75% of all sales.

While Ronin has the second-highest number of NFT sales, NFTs from the game Axie Infinity has been the best-selling collection for a long time, with over $4 billion in global sales.

Ethereum Dominates Sales by More Than 75%

As the NFT ecosystem has grown into a multi-billion-dollar business, the world of blockchain-based digital collectibles has become a force to be reckoned with. According to data released this week, total NFT sales had reached $36 billion.

The $36 billion in sales recorded on cryptoslam.io’s NFT dashboard came from 18 distinct blockchains, including Ethereum, Ronin, Solana, Avalanche, Wax, Polygon, and Flow. However, Ethereum’s $27 billion in NFT sales accounts for 75.02 percent of all NFT sales across all chains.

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Aside from Ethereum, the top blockchains in terms of all-time NFT sales are Ronin ($4 billion), Solana ($2.2 billion), Flow ($1 billion), Polygon ($591 million), Wax ($430 million), Avalanche ($277 million), Immutablex ($98.7 million), Palm ($50.5 million), and Tezos ($40.4 million). NFT sales from the top nine blockchains account for about 24.61 % of all non-Ethereum-based NFT sales.

The remaining nine blockchains are responsible for only 0.37% of the $36 billion in NFT sales volume. The only two chains having more than a million unique NFT purchasers are Ethereum with 1,300,118 and Ronin with 1,742,207.

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Axie Infinity, with almost $4 billion in sales, is the highest NFT collection in terms of all-time sales out of the $36 billion in NFT sales. Cryptopunks is the second-largest collection in terms of revenues, with $2.24 billion in sales.

Following Cryptopunks is Bored Ape Yacht Club (BAYC), which has made $2.12 billion in total sales. BASIC is followed by Mutant Ape Yacht Club ($1.52 million), Art blocks ($1.25 million), NBA Top Shot ($1 million), Otherdeeds (906 thousand dollars), Azuki (756 thousand dollars), Clonex (671 thousand dollars), and Veefriends (538 thousand dollars).

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Opensea Continues To Have The Most Sales Of Any Nft Marketplace.

The most expensive NFT sold, according to cryptoslam.io’s dashboard, was Veefriends’ “Thoughtful Three Horned Harpik,” which sold for 100,000 ether or $316 million. Following the Veefriends NFT, Cryptopunk 5822 sold for 8,000 ether, or $23.7 million.

BAYC NFTs account for five of the top ten most costly NFTs sold, while Cryptopunks account for two. Meebits 10,761 and Cyberkong VX 8252 were among the top ten most costly NFT collections.

The majority of NFTs sold are purchased on the Opensea NFT marketplace, with the market Looksrare following suit. Magic Eden, Flow’s NBA Top Shot market, Mobox, Solanart, Wax’s Atomicmarket, Bloctobay, and Rarible are some of the other major NFT marketplaces.

Despite the fact that billions of dollars worth of NFTs have been sold in recent weeks, NFT sales have been steadily declining.

Weekly NFT trade volumes have decreased, and weekly NFT revenues have also decreased in recent weeks. It will be interesting to observe how the NFT industry manages the slowdown if the crypto economy is genuinely in a bear market cycle.