NFT Market Flying in Crash: These Explode!


Global NFT sales have exploded over the past 30 days despite the deep correction in the crypto markets. Despite the recent sales of the crypto market, the global sales volume of non-tradable tokens (NFTs) is reaching all-time highs.

NFT sales soar

Global sales of NFTs smashed previous records with sales of $8.6 billion in January, according to CryptoSlam, the data aggregation site for NFTs. The previous record was the $4.5 billion figure set in August. New data from blockchain research platform Dune Analytics reveals that leading NFT marketplace OpenSea has also broken transaction records. The data shows that OpenSea has sold approximately $4.74 billion worth of NFTs so far this month, already surpassing the previous record of $3.42 billion set in August. The number of monthly active traders on the platform also increased from 362,679 in December to 454,417 in January.

CryptoSlam also found that its Ethereum-based pixelated 3D avatar collection, Meebits, had the highest sales in the last 30 days with $3.3 billion, an astonishing 34,856% increase in the same time frame. It’s followed by Terraforms, a collection of land art for $2.02 billion, and community-owned gaming platform Loot, which sells $731 million worth of NFTs. Top performing NFT-based crypto projects include Bored Ape Yacht Club ($243.99M), Mutant Ape Yacht Club ($243/05M), Axie Infinity ($155M), and Doodles ($115M). The record-high volume of the NFT space comes amid a massive dip that has seen Bitcoin (BTC), the largest digital asset in the crypto market, drop below $35,000, almost half of its all-time high.