NFT Sales Drop 32% In Last Week, Ordinals Push Into Top 10 Collections Via Emblem Vault – Markets & Prices Bitcoin News

by James · March 5, 2023

NFT Sales Drop 32% Last Week, Ordinals Push Into Top 10 Collections Via Emblem Vault

After a significant increase in February, sales of non-fungible tokens (NFT) in the last seven days are 32.32% lower than last week. Of the 19 different blockchains, Ethereum accounted for $148.56 million of the total $186.20 million in NFT sales settled this week.

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NFT sales decline after an increase in digital collectibles in February

Over the past seven days, NFT sales have totaled $186.20 million among 760,857 buyers. Although the number of buyers increased by 55.41% last week, sales volume decreased by 32.32% and NFT transactions decreased by 91% compared to the previous week. Ethereum dominated the market, taking $148.56 million or 79.78% of the total. However, sales of ETH-based NFTs decreased by 37.78% compared to last week. Solana (SOL) NFT sales increased by 12.93% this week, reaching $17 million, and Polygon recorded just over $6 million in sales, down 17.34% from the previous week.

The top five NFT collections in terms of sales this week are all Ethereum based. The best-selling collection over the past seven days was MG Land, with just over $10 million in sales, a 25.49% increase compared to last week. The second best-selling NFT collection is Momoguro Holoself with $8,848,317 in sales, followed by Sewer Pass, which generated $7,268,598 in sales over the past seven days. NFT collections Bored Ape Yacht Club ($6.2M) and Otherdeed ($5.35M) follow MG Land, Momoguro Holoself and Sewer Pass.

Interestingly, Bitcoin-based NFTs, or Ordinal Inscriptions, have made their way into this week’s market data via Emblem Vault. Data from cryptoslam.io shows that Emblem Vault version four (v4) is a collection with a significant number of Ordinal inscriptions, including Bitcoin Punks and Counterparty-made collections such as Rare Pepe blockchain trading cards. Emblem Vault v4 is the eighth biggest collection in sales this week, rising 287% compared to last week to reach $4.25 million. The most expensive NFT sold this week was Sewer Pass #21,915, which sold six days ago for $1.63 million.

In terms of NFT marketplaces, Blur remains the top market this week, taking 79.7% of the market share. NFT marketplace Opensea recorded 14.9% market share in the last week. Thirty-day calculations indicate that more than $2 billion in NFTs were sold, with Blur taking 74.5% of the market share and Opensea gaining 22.4%. X2Y2’s market share was around 2.5%, and marketplace Looksrare recorded 0.7% market share last month.

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Bitcoin Punks, Blockchain, Blur, Bored Ape Yacht Club, Buyers, Collections, Crypto Market, Cryptocurrencies, Decentralized, Digital Collectibles, Emblem Vault, ETH Based NFTs, Ethereum, February Spike, looksrare, Market Data, Market Share, MG Land, Momoguro Holoself, NFT Market Trends, NFTs, Online Marketplaces, Opensea, Ordinal inscriptions, Otherdeed, Polygon, Rare Pepe, Sales, Sales Volume, Sewer Pass, Solana, Top 10, Trading Cards, Transactions, Virtual Assets, X2Y2

What do you think about this week’s NFT sales falling 32% lower than last week? Share your thoughts on this topic in the comments section below.

Jamie Redman

Jamie Redman is the news editor at Bitcoin.com News and a financial technology journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.