- NFT sales had a breakthrough year in 2021, with total sales volume surging to $14 billion.
- The NFT market is dominated by a handful of standout leaders due to their popularity and rarity.
- These are the five best-selling digital collectibles that helped drive $555 million in NFT sales over the past week.
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The cryptocurrency boom over the past few years has helped propel a newer market to record heights: digital collectibles known as NFTs.
In fact, 2021 was a breakthrough year for NFTs, with total sales volume topping $14 billion as artists, investors, and entrepreneurs descend upon the nascent Web3 space.
NFTs, or non-fungible tokens, are unique, irreplaceable, mostly digital items that users buy and sell online.
NFTs use blockchain technology to keep a digital record of ownership, similar to cryptocurrencies. They were first launched on ethereum, the same blockchain that supports the cryptocurrency ether, and most NFTs can still only be purchased using ether.
Despite the ongoing sell-off in cryptocurrencies, NFT sales have held up relatively well. In the past week alone, sales of NFTs hit $565 million, according to data from NonFungible.com.
With NFT sales soaring, these are the five best-selling NFT collections over the past week, according to NonFungible.
5. FLUF World
7-Day Sales Volume: $7.9 million
Number of Sales: 670
Highest Sale Price: $99,742
Explainer:"FLUFs have been programmatically generated from 270 attributes across 14 categories to be entirely unique by at least three degrees of separation. This also excludes their expression, dance, scene, and soundtrack. FLUFs are stored as ERC721 tokens on the Ethereum blockchain."
4. Doodles
7-Day Sales Volume: $9.3 million
Number of Sales: 318
Highest Sale Price: $214,666
Explainer: "Doodles come in a joyful range of colors, traits, and sizes with a collection size of 10,000. Doodles are a funky bunch that like to role play or transmogrify themselves into delicious treats. Holding a Doodle allows you to participate in coordinating the Doodles Community Treasury."
3. The Sandbox
7-Day Sales Volume: $9.9 million
Number of Sales: 910
Highest Sale Price: $84,553
Explainer: "The Sandbox is a community-driven UGC-voxel platform where users own their LAND and host their creative magic."
2. CryptoPunks
7-Day Sales Volume: $35.3 million
Number of Sales: 183
Highest Sale Price: $951,844
Explainer: "10,000 unique collectible characters with proof of ownership stored on the Ethereum blockchain. The project that inspired the modern CryptoArt movement."
1. Bored Ape Yacht Club
7-Day Sales Volume: $75.8 million
Number of Sales: 916
Highest Sale Price: $834,938
Explainer: "BAYC is a collection of 10,000 Bored Ape NFTs -- unique digital collectibles living on the Ethereum blockchain. Your Bored Ape doubles as your Yacht Club membership card, and grants access to members-only benefits."