Non-fungible tokens (NFTs) sales increased 13.2% in value from October, despite the fact that cryptocurrency prices fell precipitously in November as a result of the collapse of the Bahamas-based crypto exchange FTX.
According to the 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.
Additionally, the data shows that the average sale jumped from roughly $95.20 last month to $134.12 in November and remarkably to $173.90 at the beginning of the current month.
Out 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 Ethereum-based NFT collection with the greatest sales over the last month was Bored Ape Yacht Club, which brought in $64,907,645 over the past 30 days and rose by an astounding 97.52%. Additionally, the Mutant Ape Yacht Club (MAYC) NFTs brought in $29.14 million, an increase of 83.22%, and Otherdeed around $24,182,503, up by about 60%.
Bored Ape Yacht Cub NFTs November Significant Sale
Even in the depths of the cryptocurrency winter in November, specific Bored Apes creations were fetching 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. Additionally, following the sale of BAYC #232 on November 24th, BAYC #1268 was sold for 780 ETH, or about $940,000 at the time of sale, between two undisclosed wallets.
However, the NFTs sold much over the collection’s current floor price, which has been declining over the previous few months, making these sales noteworthy in the month.
Moreover, according to the latest update by LedgerInsights, owners of Bored Ape Yacht Cub NFTs or the sister brand Mutant Apes will be able to purchase rare one-of-a-kind watches and digital twin NFTs from The Timex watch company.
Nevertheless, the BAYC NFTs’ loose intellectual property rights, which include granting the NFT holder the freedom to exploit their NFT commercially, make this sort of service viable.
With modifications to the case, strap, and etchings, only 500 unique watches will be produced following the NFT owners’ design. Many Bored Ape members and web3 company Daz3D collaborated.
Related Reading | Coinbase Decry Apple’s Ban On NFT Transfers