The cumulative amount of non-fungible token (NFT) sales across more than a dozen different blockchains has reached $36 billion, according to figures revealed this week.
While there are 18 competing blockchains that offer NFTs, Ethereum-based NFT sales account for over 75% of all sales. While Ronin has the second-highest number of NFT sales, NFTs from the game Axie Infinity has been the best-selling collection for a long time, with over $4 billion in global sales.
Ethereum leads NFT sales by more than 75%, with total sales of $36 billion
Ethereum, Ronin, Solana, Avalanche, Wax, Polygon, and Flow were among the 18 blockchains that contributed to the $36 billion in sales recorded by cryptoslam.io's NFT dashboard. However, Ethereum accounts for 75.02 per cent of total NFT sales across all chains, with $27 billion in sales.
Aside from Ethereum, the top blockchains in terms of all-time NFT sales are Ronin ($4 billion), Solana ($2.2 billion), Flow ($1 billion), Polygon ($591 million), Wax ($430 million), Avalanche ($277 million), Immutablex ($98.7 million), Palm ($50.5 million), and Tezos ($40.4 million). NFT sales from the top nine blockchains account for about 24.61 per cent of all non-Ethereum-based NFT sales. The remaining nine blockchains are responsible for only 0.37 per cent of the total $36 billion in NFT sales volume. Ethereum (1,300,118 NFT) and Ronin (1,742,207 NFT) are the only two chains with over a million unique NFT purchasers.
Out of the $36 billion in NFT sales, Axie Infinity has the greatest all-time sales collection with about $4 billion in sales. Followed by Cryptopunks in the second place with sales of $2.24 billion.
Bored Ape Yacht Club (BAYC) has $2.12 billion in total sales, BAYC is followed by Mutant Ape Yacht Club ($1.52 million), Artblocks ($1.25 million), NBA Top Shot ($1 million), Otherdeeds ($906 thousand), Azuki ($756 thousand), Clonex ($671 thousand), and Veefriends ($538 thousand).
Most Valuable NFTs Stem from Veefriends, BAYC, Cryptopunks, Cyberkong — Opensea Still Prompts the Most Amount of Sales by an NFT Marketplace. Veefriends' "Thoughtful Three Horned Harpik," which sold for 100,000 ether or $316 million, was the most expensive NFT sold. Following the Veefriends NFT, Cryptopunk 5822 sold for 8,000 ether, or $23.7 million. Five of the top ten most expensive NFTs sold are BAYC NFTs, while two are Cryptopunks. Meebits 10,761 and Cyberkong VX 8252 were among the top ten most costly NFT collections.
Despite having sold billions of dollars worth of NFTs in recent weeks, NFT sales have been gradually falling. Weekly NFT trade volumes have decreased, and weekly NFT revenues have also decreased in recent weeks. It will be intriguing to observe how the NFT industry manages the slowdown if the crypto economy is genuinely in a bear market cycle.
