The non-fungible token (NFT) marketplace has seen a drop in sales volume on OpenSea, an NFT marketplace for buying and selling items.
NFT marketplace launches by Coinbase Global Inc COIN and GameStop Corp GME have likely brought more people into the NFT space over the last few months, but volume remains down from the 2021 time period.
A pullback in the price of Ethereum ETH/USDthe second largest cryptocurrency, in the first half of 2022 could have also impacted the volume of NFT sales.
Every week, Benzinga looks at the top 10 NFT projects by sales volume, as reported by CryptoSlam. Here were last week’s top 10 NFT collections (Monday to Sunday).
1. Bored Ape Yacht Club: $10.9 million, -7.2%
2. Ledger Market Pass: $8.5 million, N/A
3. Sorare: $6.6 million, -29.0%
4. Mutant Ape Yacht Club: $6.0 million, +28.1%
5. Otherdeed: $5.5 million, -35.1%
6. ElectricSheep: $5.2 million, +5,518.6%
7. Potatoz: $3.9 million, -51.9%
8. Moonbirds: $3.9 million, +24.8%
9. CryptoPunks: $3.8 million, -50.1%
10. YOLO Bunny: $3.5 million, +93.8%
Related Link: How To Buy NFTs
What Happened: Bored Ape Yacht Club topped the list for the second straight week and one of many in 2022.
Seven of the same NFT collections from the prior list were once again in the top 10.
Newcomers to the top 10 were the Ledger Market Pass, ElectricSheep and Yolo Bunny.
The Ledger Market was a new NFT collection from well-known hardware wallet company Ledger. The Ledger Market distribution platform will hold curated NFT drops from brands and artists.
YOLO Bunny is a collection of 9,999 NFTs centered on music. The collection will provide access to a token airdrop, plots airdrop and a headphone NFT offering listen-to-earn rewards in the future, according to the company’s OpenSea profile.
Potatoz, one of three newcomers last week, held up well, seventh ranking on the week after last week’s fourth place debut.
After cracking back into the top 10 last week at 10th place, Moonbirds moved up to eighth place.
Outside the top 10, CloneX ranked 12th with $2.7 million in sales volume, continuing a trend of coming close to re-entering the top 10.
After several weeks in the top 10, Art Blocks fell to 13th place with $2.7 million in sales volume, down 39%.
NBA Top Shot ranked 14th with $2.4 million in sales volume.
Meebits gained 72.7% on the week with $2.4 million in sales volume.
One of the previous week’s new mints that cracked the top 10 fell to 17th with Isekai Meta Seeing $1.7 million in sales volume.
Photo: Courtesy of opensea.io