New Year Brings Out Rushing NFT Sales as Numbers Soar in the First Week!

Massive spike in NFT sales, as overall sales increased over 26% compared to the last week of 2022.

The new year’s first week witnessed a massive spike in NFT sales, as overall sales increased over 26% compared to the last week of 2022. Trading volume reached nearly US$209 million, with the top five blockchain networks seeing an increase in sales in double digits.

Coming to the networks, BNB Chain recorded an increase of 71.35%, followed by Cardano (+35.97%), Solana (+28.8%), Ethereum (26.22%), and Immutable X (+20.83%). Surprisingly, the Theta blockchain has seen a rise of 69.82% in sales, bringing more competition to the NFT space.

From the perspective of NFT collections, sales of Bored Ape Yacht Club (BAYC) NFTs soared to 52.82% more than the last week, followed by Mutant Ape Yacht Club (MAYC), Azuzki, Bored Ape Kennel Club (BAKC), and The Captainz. CryptoPunks and MineablePunks occupied the following positions in the weekly NFT sales report.

The floor price of BAYC NFTs has been the highest this week, too, with a value of 81.49 Ether on January 8, followed by Cryptopunks, which had a floor price of 66.88 Ether on the same day. All of the top five expensive NFT sales belonged to the MineablePunks NFT collection, and the collection recorded a total value of US$ 5,498,938, although a 49.50% drop in sales compared to the previous week.

With such an optimistic beginning for NFTs this week, it is not surprising that the Web3 community has already begun believing that this year will be great for NFTs. From a business point of view, starting a venture based on a model dependent on NFTs could be an ideal option to go ahead, as a massive user influx is expected to occur as awareness of cryptocurrencies grows among the general public.

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