- NFTs have been gaining traction in the digital asset space, with big names from the art world and tech industry throwing their hats into the ring.
- With various digital artworks, collectibles, and gaming assets being tokenized by developers every day, it's clear that this fast-moving sector has staying power.
Although the crypto market is down, NFT transactions have been soaring this year. More people are realizing the potential of Non-Fungible Tokens (NFTs) and their ability to provide ownership over digital data or media and real-world assets. But just how much of an increase has there been in NFT transactions?
According to CryptoMonday.de, the number of NFT transactions has surged by a remarkable 30% in the last 60 days. This is in line with the increased attention NFTs have been receiving worldwide, as well as their various applications.
Jonathan Merry, the CEO of CryptoMonday, spoke on the data
NFTs are quickly becoming one of the hottest topics in blockchain technology. This increase in transactions speaks to the level of interest people have in these tokens, and the potential they offer.CryptoMonday CEO, Jonathan Merry
Ever-Growing Movement of NFT
With a 52.82% surge from the prior week, Bored Ape Yacht Club (BAYC) became the most profitable NFT collection in terms of sales over the past week. BAYC was followed by Mutant Ape Yacht Club (MAYC), Azuki, Bored Ape Kennel Club (BAKC), and The Captainz. Meanwhile, Cryptopunks and Mineablepunks took the sixth and seventh positions.
The most expensive NFTs sold during this period were from the Mineablepunks NFT collection. In total, the collection made $5,498,938 in sales over the last week.
NFTs’ Potential Might Drive Their Popularity
NFT transactions remain strong despite market downturns, suggesting that the potential of these tokens is drawing attention from a wide range of crypto enthusiasts. NFTs are fast becoming an essential part of the blockchain ecosystem and could be in for a big 2023.
Cryptopunks had a floor value of around 66.88 ether at 1:30 p.m. (ET) on Sunday afternoon, which was lower than the BAYC floor value at that time. According to metrics from nftpricefloor.com, BAYC NFTs still had the most expensive floor value on Jan. 8, 2022, at 81.49 ether. This shows that the market still has potential for growth in this sector.
It's clear that NFTs have staying power and will continue to be an essential part of the crypto landscape. With the increased attention they've been receiving, more investors and traders will likely be drawn to this sector in the future.
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