Last week, sales of digital collectables reached $304 million, with a significant increase in collections based on Ethereum’s non-fungible tokens (NFTs) According to data tracker CryptoSlam, the sales volume of Ethereum NFTs reached $201 million on December 21, a 76% week-on-week rise. Over the past seven days, this accounts for 66% of the total volume of NFT sales.
Sales of Solana-based collections came to $29 million, and Bitcoin-based NFTs reached $40 million. Mythos Chain, Immutable, Polygon, and BNB Chain transactions totalled $25.9 million each week. Digital collections had their lowest monthly sales volume since 2021 in September, but this week’s record-breaking performance beats that by a wide margin.
Ethereum Leads Top NFT Sales with Pudgy Penguins
Seven out of the ten most popular NFT collections in terms of sales volume last week used Ethereum. The Pudgy Penguins collection topped the charts for the week with a volume of $54.4 million. ThePudgy Penguins Top which was part of the initiative, came in second with about $20 million in sales. Ethereum-based collections comprise seven of the week’s top ten NFT collections. Thanks to CryptoSlam,
With $18 million in sales, the Azuki NFT collection experienced a 130% jump compared to the previous week. Following a sales volume of $7 million, the Azuki Elementals collection saw a 226% growth week-on-week.
Doodles and CryptoPunks, two popular NFT collections, were also among last week’s top ten collections based on sales volume. While CryptoPunks’ volume was $7.4 million, Doodles’ was $13 million.
NFTs maintain early December momentum
Weekly volumes of NFTs have been consistently positive since the beginning of December. In the first week of the month, digital collectables made $187 million. With $25 million in sales, Pudgy Penguins Top Penguins collection also topped the charts for the week.
Although Pudgy Penguins NFTs have more volume than any other NFT, their crypto coin is underperforming. After launching on December 17, the collection’s Pudgy Penguins (PENGU) token experienced a precipitous 50% price drop. According to CoinGecko, the cryptocurrency currently trades at $0.03, around 55% lower than its all-time high.
After only 21 days, NFT sales volumes for December surpassed $562 million, reaching $678 million. With these record-breaking December sales, NFTs had their best month since May, when they made $602 million.
FAQs
Which blockchain is most popular for NFT sales?
Ethereum is the leading blockchain for NFT sales, with the highest volume of NFT transactions, followed by Solana, Bitcoin, and others.
What is the Pudgy Penguins NFT collection?
Pudgy Penguins is a popular NFT collection that consists of adorable penguin-themed digital collectibles. It has gained significant traction and recorded high sales volume.
Why did Pudgy Penguins' cryptocurrency token (PENGU) drop in value?
Despite strong NFT sales, the Pudgy Penguins' native cryptocurrency, PENGU, experienced a 50% drop in price following its launch on December 17. The drop may have been influenced by market fluctuations or investor sentiment.
How did Ethereum-based NFTs perform recently?
Ethereum-based NFTs saw a significant increase in sales, with $201 million in sales volume on December 21, marking a 76% week-on-week rise, making up 66% of the total NFT sales.
