NFT Market Witnesses Weekly Sales Volume of $187M in December

• September had the lowest monthly sales volume of NFTs since 2021.
• The best week of November was surpassed in the first week of December.

Among the biggest digital collectible blockchains in terms of sales, Ethereum had the best start in December for non-fungible tokens (NFTs).

Continuing a rising trend that started in October, NFT data tracker CryptoSlam revealed on December 8 that digital collectibles had a weekly sales volume of over $187 million during the first week of December. The best week of November, when NFT sales were $181 million, was surpassed in the first week of December.

NFT Market Revival

September had the lowest monthly sales volume of NFTs since 2021, continuing a downward trend that began in March. But by October, the asset class had made a full recovery. The sales volume of NFTs surpassed $562 million in November, marking a 57% month-on-month rise.

Sales of Ethereum NFTs reached $92 million last week, up 44.69% from the previous week. Pudgy Penguins and CryptoPunks, two popular NFT collections, drove the rise with their great results.

As reported by CryptoSlam, Pudgy Penguins had a sales surge of 346%, reaching $25 million, compared to the previous week. According to DefiLlama data, the floor price of the collection increased from 13 Ether on November 30 to 20.9 ETH, or almost $83,000, as of December 8.

With weekly sales of $16.5 million, CryptoPunks was the second most popular NFT collection. The floor price of the collection spiked to 44 ETH on December 4 and then settled at 40 ETH, or almost $160,000, on December 8.

With sales of $43.8 million, Bitcoin-based NFTs came in second place, just behind Ethereum. The aggregate weekly sales volume of Solana, Immutable, Mythos Chain, Polygon, Cardano, and Flow was $47 million.

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