Ethereum block chain NFT sales up 161% in last 7 days

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Ethereum block chain NFT sales up 161% in last 7 days

The non-fungible space has continued its impressive run this year despite the current sentiments about the industry.

Over the last week, the NFT space recorded $2.5 billion worth of sales. This represents a 161% growth over the last seven days.

The NFTs on the Ethereum block chain had the lion's share of sales, according to the data provided by cslam.io. The sales of the block chain were $2.45 billion, and were majorly dominated by NFT projects like Meebits, which had $1.23 billion in sales, 574 buyers and over 2000 transactions.

NFT sales on lesser-known blockchains like Theta, Wax and Flow also increased. The data shows that sales on Theta rose by over 490%, the highest increase in the last seven days, while that of Wax and Flow had a rise of 17.10% and 1.04%.

Sales on popular blocks like Solana, Polygon, and even Binance Smart Chain were in the red as they depreciated by 36%, 11.5%, and 80%, respectively.

Other NFT projects that have been raked in hundreds of millions include Loot, which saw over $280 million in sales, and CryptoPhunksV 2, which had over $140 million in sales.

More popular NFT projects like PhantaBear, Mutant Ape Yacht Club and Bored Ape Yacht Club saw their sales decline by over 20%. They have sales worth of $53 million, $33 million, and $31 million, and they are still among the top 10 as of right now.

LooksRare sales surpasses that of Open Sea in the last seven days.

A new marketplace is looking to rival Open Sea, which is the undisputed dominant NFT marNFTketplace in the sector.

LooksRare, the newly launched NFT marketplace, saw its sales statistics beat that of OpenSea for the last seven days.

According to available data, the platform had $444 million in sales while Open Sea saw around $120 million in sales. Magic Eden, the third largest NFT marketplace in the previous week, had around $8 million in sales, according to Solana-based Magic Eden.

It should be noted that OpenSea, set to $15 billion in total NFT sales, is a long way away from the impressive figure posed by LooksRare.

Axie Infinity is close to $4 billion in total sales, while Magic Eden is closer to the $1 billion mark.

The continued interest of investors like celebrities, traditional firms, and retail interest is expected to drive sales in the space for the foreseeable future.