Non-fungible token sales are booming and top marketplaces are seeing record volume levels.
The milestone was noted by crypto asset investment firm Paradigm co-founder Matt Huang, who posted a screenshot from NFT marketplace and data tracker CryptoSlam.
CryptoSlam also reported that a large portion of trading is now taking place on secondary markets indicating that crypto collectibles are changing hands more often.
CryptoSlam reports that NBA Top Shot, a basketball based collection launched in October 2020, is the top-selling NFT platform with $5.8 million shifted over the past 24 hours and a whopping $68.5 million over the past 30 days.
Top Shot represents the first time the NBA has entered into a licensing deal backed by blockchain technology. Speaking to ESPN, NBA associate vice president for licensing, Adrienne O'Keeffe, said;
“Blockchain is unique. It can deliver value to intellectual property owners downstream. We do believe blockchain technology has staying power and a lot of promise for our business."
Hashmasks and CryptoPunks are second and third in terms of sales according to the NFT data provider. Switzerland-based Hashmask hosts a collection of unique digital portraits created by a collective of over 70 artists. Over $8 million worth has been sold over the past seven days, and a rare one went for $650k in ETH earlier this month.
CryptoPunks are 24x24 pixel art images generated algorithmically and sales are through the roof with $1.5 million shifted over the past 24 hours and $13.4 million over the past week according to CryptoSlam. One of the pixelated pictures sold for a whopping 605 ETH in late January.
Virtual land sales are also booming and an NFT for plots in the Axie Infinity metaverse went for $1.5 million on Feb. 8, making another new record.
According to The Defiant, citing data from Dune Analytics, NFT marketplace SuperRare recently broke $10 million in total sales volume, with around 22% of this being secondary sales.
The leading marketplace for NFT resale, OpenSea, saw an increase of 400% in volume for February as it surged from $8 million to $32 million.
Nifty Gateway is the leading crypto art marketplace and its volumes are on track to break the previous thirty-day record of $8.7 million. So far this month, Nifty has notched up over $6 million in NFT sales.
The top 17 highest-priced crypto collectibles have all been sold in the past 30 days for a combined value of more than $100 million.