This week, the world of non-fungible tokens (NFTs) continued its recovery in terms of sales volume, adoption and initiatives.
A new week goes by the NFT market with continuing increase in sales volume. For several days now, the blockchain-based collectibles sector has been regaining traction among investors.
The fresh air of a possible bull market for Bitcoin and the rest of the cryptocurrencies revives investors. Big brands and collectors are slowly waking up and stimulating a sector that until a few weeks ago seemed lost. In fact, NFTs were undoubtedly the market hardest hit by the winter.
After hitting rock bottom, positive news now seems to be coming from several directions. In this work, we present you a brief summary of the highlights of the last 7 days.
NFT Sales Volume Continues to Recover This Week
The best thing about this week, as already said, is the continuation of the recovery in NFT sales volume. Although this indicator is still very far from the 2021 peaks, experts consider the recovery trend to be consistent.
According to data published by the analysis firm, Nansen, the sales volume in recent weeks continues to grow. In fact, there is talk of a jump from just over $50 million in the last week of October to nearly $150 million during the most recent week.
For experts like Jonathan Perkins of the trading platform, SuperRare, the recovery trend will last several months. With this in perspective, enthusiasm seems to return to the forefront and the most popular collections once again raise their minimum prices.
Certainly, this week’s results in the NFT market with its increase in sales volume remain low. Consequently, experts warn that victory cannot be declared prematurely either, given that the cryptocurrency bull market is not a fait accompli. It should not be lost sight of that Bitcoin continues in a constant fight against volatility.
Solana Projects Grow Nonstop
Solana’s top apps dedicated to NFT trading are experiencing an astonishing pace of growth. In just one week, the growth of the main projects accumulates 100%. The latter translates into a maximum of 18 months.
In that sense, this multi-purpose network reinforces the belief of a recovery of the non-fungible token market. Capital flows in overwhelming amounts to blockchain protocols thanks to many of its advantages related to scalability and low fees for traders and developers.
Mad Lads is one of those with the greatest growth and in fact it is the main platform in terms of the best minimum prices. This particular protocol shows a growth of 122%, according to specialized media. In this way, this week was presented as another of good results for the network thanks to NFTs.
Paris Saint-Germain Launches Collection
European football giant Paris Saint-Germain announced the launch of an NFT collection in partnership with Blvck Paris. The alliance seeks an original fusion between sport, fashion and digital art, as reported by the two companies in the middle of the week.
According to the parties, the collection consists of some clothing items. In this way, by purchasing digital arts, users also acquire the right to claim the physical equivalent of the certain garment.
On the other hand, it was known that the collection consists of 1,000 tokens, which are valued at $50 dollars per unit. Likewise, 10% of NFTs are collectible, which means that they are unique and have the characteristic of appreciation. Thus, the week of recovery in NFT sales volume closes with a flourish.
By Leonardo Perez