The non-fungible token (NFT) marketplace has seen a drop in sales volume on OpenSea, an NFT marketplace for buying and selling items.
The highly anticipated Coinbase Global Inc COIN NFT marketplace had a slow start but could be bringing more people into the sector.
The declining price of cryptocurrencies, including Ethereum ETH/USD, continues to be a big story in the world of NFTs.
Every week, Benzinga looks at the top 10 NFT projects by sales volume, as reported by CryptoSlam:
Bored Ape Yacht Club: $14.9 million, +20.6%
CryptoPunks: $9.6 million, +122.2%
Sorare: $7.7 million, +29.7%
Mutant Ape Yacht Club: $7.1 million, +26.6%
Otherdeed: $6.7 million, -29.2%
ENS (Ethereum Name Service): $6.0 million, +46.5%
Art Blocks: $6.0 million, +90.1%
Moonbirds: $3.9 million, +50.9%
CloneX: $3.1 million, +3.4%
Doodles: $2.4 million, -30.3%
What Happened: The big story for the week may be that eight of the top 10 NFT collections saw an increase in their sales volume. CryptoPunks led the way jumping from third to second and seeing a 122% increase in sales volume.
Otherdeed for Otherside fell from second place to fourth and was one of the only two in the top 10 to see declines. The project from Yuga Labs is nearing the $1 billion sales milestone. Doodles, which fell from seventh to tenth place was the other volume decliner for the week.
Ethereum Name Services jumped into fifth place with interest and volume in securing Web3 domains continuing to rise.
Art Blocks made a reappearance in the top 10 at seventh place with a 90% increase. The popular generative art project has seen recent increases in volume and discussion in the NFT community.
Overall, this week’s top 10 list contained eight of the same collections from last week’s top 10 list.
Outside the top 10, Bored Ape Kennel Club ranked 12th with a 216% jump in sales volume.
Azuki ranked 13th and saw an 18% jump in sales volume.
Former list topper Axie Infinity ranked 18th with a 196% increase in sales volume.
Only one Solana SOL/USD-based project ranked in the top 20 NFT collections by sales volume with Degen Degen ranking 19th at $1.3 million.
After several weeks of nearing the top 10, NBA Top Shot fell to 20th place but saw a 5% increase in sales volume.
Photo: ArtMediaWorx via Shutterstock
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