NFT Frenzy Takes Over: $1 Billion Sold in 30 Days with a 41% Spike in January 2023

NFT sales are on fire! With a 41.96% surge from the previous month, the numbers hit close to $1 billion in just 30 days, reaching a whopping $997.53 million. And that’s not all, the trend continues as the number of digital collectible transactions rose over 22% in the past month.

BAYC Reigns Supreme, Ethereum Soars with 78% of Total NFT Sales in January 2023

January 2023 was a big month for NFT sales, reaching $997.53 million with a 41.96% hike from December 2022. According to cryptoslam.io, Ethereum dominated the NFT sales among 20 blockchain networks, accounting for an impressive 78.681% of the total, which amounted to $784.87 million. 

Solana came in close behind with $150.4 million in NFT sales, making up 15.07% of the total over the last 30 days. Rounding out the top five blockchain networks for NFT sales are Cardano, Immutable X, and Polygon, in that order.

January 2023 was a lucrative month for top-selling NFT collections, with Bored Ape Yacht Club (BAYC) leading the pack at $71.24 million in sales. BAYC saw a 45% jump in sales from December. Mutant Ape Yacht Club (MAYC) wasn’t far behind, experiencing a 47.91% increase and generating $58.85 million in NFT sales.

Bored Ape Kennel Club (BAKC) saw a massive 309% increase in NFT sales from the previous month, totaling a staggering $42.33 million. Rounding out the list of top NFT collections in order are Azuki, Otherdeed, Art Blocks, Sorare, Degods, Captainz, and Hausphases.

January was a big month for the top five NFT collections, generating a combined $242.56 million in sales, making up 24.31% of the total. The top ten NFT projects made an even bigger impact, bringing in $336.26 million in sales, accounting for 33.70% of the $997.53 million in total sales for the month.

The month saw some sky-high NFT sales, with BAYC #5,840 taking the top spot as the most expensive NFT sold over the past 30 days at $796,444. Coming in close behind were BAYC #4,025, which sold for $613,501 17 days ago, and BAYC #8,483, which sold for $581,845 just three days ago. Rounding out the top five were Cryptopunk #9,092, which sold for $496,903 and BAYC #8,483, which sold for $490,333. 

For the past 30 days, Opensea dominated NFT sales volume with 40% of total sales executed on their marketplace. Blur NFT market took second place with 32% of the 30-day sales, followed by X2Y2 with 8% of the month’s sales. Magic Eden NFT sales contributed 7% to the month’s total, and Looksrare made up 2% of the NFT sales over the past 30 days, according to dappradar.com statistics.

Joy Rice

Joy Rice is a computer science graduate and crypto writer with a strong understanding of blockchain technology. She writes about the latest developments in the crypto industry, and is passionate about educating and informing readers about the potential uses of blockchain.