‘The new way to become a millionaire’ thinking what is it? That’s NFT. The recent market trends confirm this, with the whopping sale of digital collectibles. Its weekly sales reached an impressive $108 million. This growth opens up new chances for new NFT marketplaces to establish themselves. In this blog, we will learn about this impressive growth of sales in NFTs, and why NFT Marketplace Development will be a perfect business choice now.
Solana’s Strong Performance
With $27.33 million in NFT sales, Solana is the second-most popular blockchain. This represents an 18.16% growth from the previous week. This shows Solana’s rising popularity in the NFT world, thanks to its fast transactions and lower fees compared to other blockchains. For an NFT marketplace development company, supporting Solana-based NFTs is important as more users look for efficient and affordable platforms.
Bitcoin and Other Leading Blockchains
Bitcoin, despite a 16.39% drop in sales from the previous week, still held the third spot with $17.43 million in sales. This demonstrates the lasting appeal of Bitcoin-based NFTs. Following Bitcoin, Polygon and Immutable X also made it to the top five blockchains by sales, alongside Ethereum (ETH) and Solana (SOL).
Top NFT Collections
The top digital collectible this week was Solana Monkeys, which made $4.94 million, a 16.62% increase. Mythos’ Dmarket came in second with $4.2 million in sales, up 4.97%. Solana’s Dogezuki ranked third, earning $3.24 million. These collections highlight the lively and competitive nature of the NFT market on Solana, showing the need for marketplaces that can showcase and trade popular collectibles effectively.
Immutable X’s Gods Unchained and Guild of Guardians also performed well, indicating that NFTs on Immutable X are gaining popularity. This offers a great opportunity for NFT marketplace development companies to support Immutable X, providing users with an optimized trading experience for their favorite collections.
High-Value NFT Sales
The highest NFT sale of the week was a Bitcoin-based NFT, which sold for $877,068. Other notable sales included the Arbitrum NFT GETH Locked Deposit #146, which fetched $583,047, and a BNB-based Lockdeal NFT #61765, which garnered $355,618. Ethereum-based Bull Shark #1052 and Solana-based Deeznode #034 also achieved significant sales. These high-value transactions highlight the importance of secure NFT marketplaces that can handle high-stakes trades across various blockchains.
New Trends and Opportunities
This week’s trends show that the NFT market is growing, with innovations in the industry. As different blockchain platforms compete for the top spot and new collections are released, there are many opportunities for new marketplaces to gain market share. NFT marketplace development companies should use these trends by offering features like cross-chain compatibility, updated security, and user-friendly interfaces.
Conclusion
The $108 million in weekly NFT sales shows a clear view of the growing NFT market. While there are many ways to utilize this revolution, the best way is to create a place to buy, sell, and trade NFTs. Yes, That is a user-friendly, customer-focused, and feature-packed NFT marketplace. Don’t worry about the technology behind it, just contact a reliable best NFT marketplace development company to make yours.
