Global NFT sales mark new records despite the correction in crypto markets

    30 Jan 2022

    In January, global NFT sales volume is hitting new all-time highs of $8.6 billion despite the crypto market’s latest sell-off.

    According to data aggregator CryptoSlam, global NFT sales have topped previous records with $8.6 billion worth of sales in January, dwarfing the previous high of $4.5 billion set in August.

    New data from blockchain research platform Dune Analytics reveals that the leading NFT marketplace, OpenSea, has also broken transaction records.

    As Daily Hodl reported, the data shows that OpenSea has so far sold about $4.74 billion worth of NFTs this month, already surpassing the previous sales 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 finds that Ethereum-based pixelated 3D avatar collection Meebits made the highest sales in the last 30 days, coming in at $3.3 billion, up a staggering 34,856% over the same timeframe. It is followed by land art collection Terraforms, which made $2.02 billion, and community-owned gaming platform Loot, which sold $731 million worth of NFTs.

    Other top-performing NFT projects include Bored Ape Yacht Club ($244 million), Mutant Ape Yacht Club ($205 million), Axie Infinity ($155 million), and Doodles ($115 million).

    The NFT space’s record-high sales volume comes amidst a massive dip in the crypto market that saw top digital asset Bitcoin (BTC) was plunging below $35,000, nearly half of its all-time high.

    As recently reported, Meta is working on plans to allow users to create and sell NFTs on the social platform, seeking to join the race of companies trying to capitalize on the digital collectibles within its planned metaverse. The social media group is hurry to enter the hot $40 billion NFT market.

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