NFT sales continue to rise 13% in November value despite market crash
Sales of non-fungible tokens (NFTs) rose 13.2% in value from October, despite cryptocurrency prices plummeting in November following the collapse of Bahamas-based crypto exchange FTX.
According to NFT aggregation site CryptoSlam, sales in November exceeded $532 million, compared to $460 million in October. However, individual transactions were down 18.75% in November.
In addition, the data shows that average sales jumped from about $95.20 last month to $134.12 in November and remarkably to $173.90 at the beginning of the current month.
Of the $532 million in NFT sales, $443.55 million was for Ethereum-based NFTs, while the remaining amounts are split between Solana ($68 million) and ImmutableX ($20 million).
The top-selling Ethereum-based NFT collection in the last month was Bored Ape Yacht Club, which raised $64,907,645 in the last 30 days and rose by an astonishing 97.52%. In addition, Mutant Ape Yacht Club (MAYC) NFTs brought in $29.14 million, up 83.22%, and Otherdeed around $24,182,503, up around 60%.
Bored Ape Yacht Cub NFTs November Significant Sale
Even in the depths of November’s cryptocurrency winter, specific Bored Apes creations fetched high prices. On November 23rd, an NFT from Yuga Labs’ renowned Bored Ape Yacht Club (BAYC) collection was sold for 800 Ether, or about $950,000.
Deepak Thapliydal sold BAYC #232 to fictitious NFT collector Keungz, who, based on their OpenSea profile, appears to own a number of Yuga Labs NFTs. In addition, after the sale of BAYC #232 on November 24th, BAYC #1268 was sold for 780 ETH, or around $940,000 at the time of sale, between two undisclosed wallets.
However, the NFTs sold well above the collection’s current floor price, which has been declining over the previous months, making these sales notable for the month.
Also, according to the latest update from LedgerInsights, owners of the Bored Ape Yacht Cub NFT or sister brand Mutant Apes will be able to purchase rare unique watches and digital twin NFTs from The Timex watch company.
Nevertheless, BAYC NFTs’ loose intellectual property rights, which include giving the NFT holder the freedom to exploit their NFT commercially, make this type of service viable.
With modifications to the case, strap and etchings, only 500 unique watches will be produced according to the NFT owners’ designs. Many Bored Ape members and web3 company Daz3D collaborated.
Related Reading | Coinbase rejects Apple’s ban on NFT transfers
