Over the last two years, the cryptocurrency explosion has helped drive a fresh sector to unprecedented heights. The new sector that boomed while leveraging cryptocurrency is the digital collectibles, commonly known as NFTs.
The year 2021 has been a fantastic moment for NFTs, with total sales exceeding $12 billion as investors and entrepreneurs flock to the fresh Web3 market. NFTs, like cryptocurrencies, employ blockchain technology to retain a digital record of ownership. They were initially released on Ethereum, the identical blockchain that underpins the cryptocurrency ether, and most NFTs are still only available for purchase using Ether.
According to NonFungible.com, sales of NFTs reached $292 million in the last week. With NFT sales surging, NonFungible has compiled a list of the top five best-selling NFT collections in the last week. NFT sales totaled $293 million last week. These were the top five digital art collections in terms of sales.
Bored Ape Yacht Club (BAYC): BAYC is a set of 10,000 Bored Ape NFTs, unique digital collectibles that live on the Ethereum blockchain. Your Bored Ape also serves as your Yacht Club membership card, granting you access to exclusive member advantages. The BAYC had 695 sales within seven days with a total sales volume of $52.2 million, and the average sale was valued at $75,107.
The Sandbox: Users control their land and are at liberty to host their creative magic on The Sandbox, a community-driven UGC-voxel platform. The Sandbox had total sales of 2,182 within a seven-day window, with a total sales volume of $33.1 million and an average sale of $15.169.
CryptoPunks: The Ethereum blockchain stores evidence of ownership for 10,000 distinct collectible characters. The initiative that gave birth to today's CryptoArt movement. CryptoPunks had 38 sales within seven days with a total sales volume of $17.5 million, and the average sale was valued at $460,526.
Art Blocks: A marketplace for truly programmable and on-demand generative art directly stored on the Ethereum blockchain. Art Blocks had 2737 sales within seven days with a total sales volume of $13.2 million, and the average sale was valued at $4,822.
Decentraland: The Ethereum blockchain powers Decentraland, a virtual reality network. Content and apps may be created, experienced, and monetized by users. Decentraland had 339 sales within seven days with a total sales volume of $6.6 million, and the average sale was valued at $19,469.