Non-fungible token (NFT) sales increased 41.96% from the previous month, according to data recorded on Feb. 1, 2023. NFT sales reached nearly $1 billion in 30 days, with an approximate total of $997.53 million. Additionally, the number of digital collectible transactions rose more than 22% in the past month.
Bored Ape Yacht Club Dominates, Ethereum Leads With 78% of Total NFT Sales in January 2023
NFT sales mirrored those of crypto assets in January 2023, reaching $997.53 million, a 41.96% increase from December 2022. Data from cryptoslam.io shows that out of 20 blockchain networks, Ethereum led NFT sales with $784.87 million, or 78.681% of the total for the month.
Solana followed with $150.4 million in NFT sales over the last 30 days, accounting for 15.07% of the total. The other top five blockchain networks in terms of NFT sales are Cardano, Immutable X, and Polygon, respectively.
In terms of top-selling NFT collections in January 2023, Bored Ape Yacht Club (BAYC) NFTs generated $71.24 million in sales. BAYC sales increased 45% from December. Mutant Ape Yacht Club (MAYC) sales rose 47.91% last month, generating $58.85 million in NFT sales.
Bored Ape Kennel Club (BAKC) NFT sales jumped 309% from the previous month, totaling $42.33 million in sales. The remaining top NFT collections in order are Azuki, Otherdeed, Art Blocks, Sorare, Degods, Captainz, and Hausphases.
The top five NFT collections generated $242.56 million in sales in January, accounting for 24.31% of total sales. The top ten NFT projects combined for $336.26 million in sales, equating to 33.70% of the $997.53 million in total sales for the month.
The most expensive NFT sold over the past month was BAYC #5,840, which sold for $796,444 four days ago. BAYC #4,025 sold 17 days ago for $613,501, and BAYC #8,483 sold for $581,845 three days ago. The fourth and fifth most expensive NFTs sold were Cryptopunk #9,092, sold for $496,903, and BAYC #8,483, sold for $490,333.
In 30-day terms of sales volume, Opensea led the pack with 40% of last month’s sales executed on the NFT marketplace. The NFT market Blur captured 32% of the 30-day sales, and X2Y2 recorded 8% of the month’s sales. Magic Eden NFT sales were around 7% of the month’s settled transactions, and Looksrare accounted for 2% of the NFT sales in the last 30 days, according to dappradar.com statistics.
What do you think about the rise in NFT sales last month? How do you see the future of NFTs and blockchain technology evolving in the coming months? Let us know what you think about this story in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
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