Statistics recorded this week show that the aggregate number of non-fungible token (NFT) sales, settled across more than a dozen different blockchains, has officially surpassed $36 billion. While there are 18 competing blockchains offering NFTs, Ethereum-based NFT sales dominate by more than 75%. While Ronin commands the second-largest amount of NFT sales, NFTs from the game Axie Infinity have been the top-selling collection for quite some time, with more than $4 billion in global sales to date.
$36 billion in all-time NFT sales, Ethereum dominates sales by over 75%
The world of blockchain-based digital collectibles has been a force to be reckoned with as the NFT ecosystem has grown into a multi-billion dollar industry. This week’s metrics indicate that all-time NFT sales have topped $36 billion to date.
The $36 billion in sales recorded on cryptoslam.io’s NFT dashboard stems from 18 different blockchains like Ethereum, Ronin, Solana, Avalanche, Wax, Polygon, and Flow to name a few. Ethereum’s $27 billion in NFT sales, however, represents 75.02% of the total number of sales across all the chains.
Top blockchains by all-time NFT sales besides Ethereum include Ronin ($4 billion), Solana ($2.2 billion), Flow ($1 billion), Polygon ($591 million). dollars), Wax ($430 million), Avalanche ($277 million), Immutablex ($98.7 million), Palm ($50.5 million) and Tezos ($40.4 million). The all-time NFT sales of the top nine blockchains account for approximately 24.61% of non-Ethereum based NFT sales.
The remaining nine blockchains below Tezo’s position only represent 0.37% of the $36 billion in all-time NFT sales volume. Ethereum’s 1,300,118 NFT buyers and Ronin’s 1,742,207 NFT buyers are the only two chains with more than a million unique NFT buyers.
Of the $36 billion in NFT sales, the best-selling NFT collection of all time is Axie Infinity, which saw over $4 billion in sales. The second largest collection by sales is Cryptopunks, which recorded sales of $2.24 billion.
Cryptopunks is followed by Bored Ape Yacht Club (BAYC) which has recorded $2.12 billion in all-time sales. BAYC is followed by Mutant Ape Yacht Club ($1.52M), Artblocks ($1.25M), NBA Top Shot ($1M), Otherdeeds ($906K), Azuki ($756K), Clonex ($671K), and Veefriends ($538K).
The most expensive NFTs come from Veefriends, BAYC, Cryptopunks, Cyberkong – Opensea still has the most sales in an NFT market
The all-time sales stats from the cryptoslam.io dashboard indicate that the most expensive NFT sold is Veefriends’ “Thoughtful Three Horned Harpik”, which sold for 100,000 ether or $316 million. The Veefriends NFT is followed by Cryptopunk 5822 which sold for 8,000 ethers or $23.7 million.
Five of the most expensive NFTs sold out of the top ten are BAYC NFTs and two are Cryptopunks. Other collections in the most expensive NFT top ten list included Meebits 10,761 and Cyberkong VX 8252.
Of all the NFTs sold, most are bought on the Opensea NFT marketplace, with the Looksrare marketplace following the platform’s lead. Other notable NFT marketplaces include Magic Eden, Flow’s NBA Top Shot Marketplace, Mobox, Solanart, Wax’s Atomicmarket, Bloctobay, and Rarible.
While billions of dollars worth of NFTs have been sold during the last few weeks, NFT sales have been dropping significantly. Weekly NFT trade volumes are down and weekly NFT sales have also floundered during the past few weeks. If the crypto economy is truly in a bear market cycle it will be interesting to see how the NFT industry handles the downturn.
