This week marked a positive turn for the non-fungible token (NFT) market, with sales increasing by over 17% following a period of decline. Total sales reached $145.3 million, with nearly 230,000 active buyers and sellers participating in the market.
Leading the charge in NFT sales among blockchains was the Bitcoin (BTC) network, which saw a significant rise of 50.33% to reach $47.74 million in sales. Despite the increase in sales volume, the number of active buyers in the Bitcoin NFT space dropped by almost 96%. Ethereum (ETH) followed closely behind in weekly NFT sales volume, recording over $35 million in sales between June 2 and June 8.
Other notable increases in NFT sales were seen on the Polygon (MATIC) and Immutable X (IMX) blockchains, while Solana (SOL) experienced a slight decrease in sales. This recent uptick in activity indicates a broad interest in NFTs from collectors and investors, suggesting potential for sustained growth in the market.
The top NFT collective sales of the week included a high-priced NFT from the Cardano (ADA) blockchain, an Ethereum-based Cryptopunk, and a Polygon Matr1x Fire Weapon NFT. Additionally, the top-performing NFT collections included Bitcoin’s PIZZA NFTs, Immutable X’s Guild of Guardians, and Polygon’s Moongirl NFTs.
Overall, the growth rates among leading platforms like Bitcoin, Solana, and Polygon point to a diversifying market for NFTs. The renewed interest in NFTs may be driven by a combination of factors, including the recent market dip offering buying opportunities, the increasing utility of NFTs across various sectors, and the overall growth of the crypto market benefiting NFT markets as well.