In the wake of a surge in non-fungible token (NFT) sales last November, this trend continued in the first week of December, with sales increasing 57% compared to the previous week.
Bitcoin Outpaces as NFT Sales Skyrocket in Early December
Last week’s NFT sales were approximately $316 million. Despite this increase, the number of buyers and sellers dropped significantly, by 90.09% and 88.31% respectively, according to cryptoslam.io’s seven-day data.
The first week of December NFT sales.
NFTs linked to Bitcoin maintained their leading position in sales volume in November, a trend that continued into the first week of December. As of December 1, 2023, Bitcoin-related NFTs generated $121.34 million in sales during the week, outperforming Ethereum-based NFTs, which saw $100.83 million in sales.
Top five blockchains in terms of NFT sales and the top five collections over the past seven days, according to cryptoslam.io.
Sales of BTC-based NFTs rose 171.80%, while those of Ethereum NFTs rose a modest 6.66%. Other notable platforms in terms of NFT sales included Solana ($47 million), Arbitrum ($14.4 million), Polygon ($13.7 million), and Immutable X ($5.93 million).
With a focus on specific NFT collections, Bitcoin’s “$SATS BRC-20” NFTs topped the list with sales of $21.88 million, up 135% from the previous week. Arbitrum’s “Sentry Node License” followed, reaching $12.33 million in revenue.
Top five NFT sales since December 1, 2023, according to cryptoslam.io.
Additionally, ‘Uncategorized Ordinals’ from the Bitcoin blockchain have collected $8.69 million, completing the top three collections of the week. Interestingly, four of the top ten collections come from Bitcoin, while only two come from Ethereum.
The most notable sale of the week was a Vincent van Gogh painting embedded in the Bitcoin blockchain, which fetched $1.19 million six days earlier. Bitcoin also witnessed the sale of an ancient inscription, minted on January 15, 2023, which traded for 10.4 BTC, equivalent to $463,000 at the time of the transaction.
On the Ethereum (ETH) side, Fidenze #587 sold two days ago for $463K. Meanwhile, a Solana Boogle NFT was purchased in the past 24 hours for $149,000, and a Polygon Tribul #2 fetched $60,000.
NFTs are experiencing a resurgence after a period in which many of these cryptocurrencies have lost more than 90% in value since the start of the crypto winter. In particular, the once-preeminent NFT collections, Bored Ape Yacht Club and Cryptopunks, have seen shifts in their rankings and now rank sixth and nineteenth respectively.
What do you think of this week’s NFT sales? Share your thoughts and opinions on this topic in the comments below.