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$1.7 Billion in NFT sales fueled by Otherdeed Trades –

$1.7 Billion in NFT Sales Fueled by Otherdeed Trades — NFT Volume Jumps 74% Higher Than Last Week

With the Bored Ape Yacht Club’s Otherside land sales, non-fungible tokens (NFT) have increased dramatically this week. NFT sales increased 74. 77% during the last seven days, capturing $1. 71 billion in sales volume among 266,918 traders.

7-Day NFT Sales Volume Jumps 74% to $1. 71 Billion, Otherdeed NFT Collection Captures $787 Million in Global Sales

NFTs have done well this week as far as sales are concerned, and across 1,075,588 transactions during the last seven days, $1. 71 billion in sales volume has been recorded. The sales volume is 74. 77% higher than the $981 million in NFT sales recorded last week.

$1.7 Billion in NFT Sales Fueled by Otherdeed Trades — NFT Volume Jumps 74% Higher Than Last Week
7-day NFT sales on May 6, 2022. Statistics from cryptoslam.io NFT analytics.

The $1. 71 billion stemmed from 16 different blockchain networks, and Ethereum saw an 86. 30% increase in ETH-based NFT sales this week. NFT sales that derived from the Polygon blockchain jumped 87. 66% higher than the week prior as well. Fantom-based NFTs also saw a notable double-digit week-long percentage increase of around 52.47%.

Some of the most expensive NFT sales this week were sold for prices between $852.5K and $1. 12 million. The top NFT collectible sale during the last seven days was Bored Ape 17, which sold for 410 ether or $1. 12 million. The second most expensive NFT sale this week was Bored Ape 2980, which sold for 381 ether or just over $1 million.

$1.7 Billion in NFT Sales Fueled by Otherdeed Trades — NFT Volume Jumps 74% Higher Than Last Week
The top two most expensive NFT sales this week. Statistics derived from cryptoslam.io NFT analytics.

The next three sales that followed the Bored Ape Yacht Club sale (BAYC), were all Otherside deeds. Otherdeed 33 sold for 333. 33 ether or $979K, Otherdeed 24 sold for 333 ether or $952K, and Otherdeed 9 sold for 300 ether or $852.5K.

$1.7 Billion in NFT Sales Fueled by Otherdeed Trades — NFT Volume Jumps 74% Higher Than Last Week
The top five NFT collections in terms of sales volume this week. Statistics from cryptoslam.io NFT analytics.

The Otherdeed NFT Collection sales topped the charts this week in terms of sales volume. 16,384 Otherdeed NFT buyers spent $787. 55 million across 30,752 transactions. The second position was held by BAYC which captured $153.7 million in seven-day sales, up 94. 93% since last week.

Mutant Ape Yacht Club (MAYC) saw a 39. 41% increase this past week with $126.4 million in global sales. The NFT collection Beanz took the fourth spot, jumping 388. 31% and capturing $69. 59 million in sales volume. The fifth most prominent in terms of seven-day sales was Doodles, which increased 222. 34% since last week to this week’s $43.1 million in sales.

BAYC still has the most expensive floor value out of all the NFT collections today, with its 104.8 ETH floor value. BAYC is followed by Proof Collective (94.1 ETH), Cryptopunks (60. 95 ETH), Bored Ape Chemistry Club (47. 49 ETH), and Moonbirds (26.0 ETH).

All of the top five NFT collection floor values have dropped 8 to 16.1% since last week. The only NFT collection that saw a seven-day floor price increase last week was Doodles, jumping 3.1% higher to 22. 77 ETH.

What do you think about this week’s NFT sales increasing 74. 77% higher than last week’s sales? Comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, the News Lead at Bitcoin.com News, is a Florida-based financial journalist. Redman has been an active member of the cryptocurrency community since 2011. Redman is passionate about Bitcoin, open-source codes, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

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