The nonfungible token (NFT) market saw a positive turn last October, growing for the first time in a year. This is according to a report by the analytics platform, DappRadar.
The volume of NFT sales had a notable reversal with an increase in October of 32%, compared to September. The total value of these transactions exceeded $405 million, although the number of sales decreased by 5%, the report says.
DappRadar puts a special focus on Solana. In October, the volume of NFT transactions on that network grew by 15%, from $24 million to $27.6 million, placing it in fifth place in the ranking.
It also highlights Ethereum's rollup, zkSync Era, which has seen an 88% increase in its NFT trading volume, increasing from $7.3 million to $14 million in the month of October.
However, other networks have observed a significant decrease in their sales volume. Polygon, Starkware and Flow have all seen drops of 48%, 42% and 32% respectively, notes DappRadar.
The positive performance of the NFT market has also benefited several collections. Among the highlights of October is the Bored Ape Yacht Club (BAYC) developed by the company Yuga Labs.
BAYCs saw their sales volume increase by 53% in October, exceeding $54 million, thanks to a 46% increase in the number of unique merchants and sales.
In second place is the popular video game Axie Infinity, followed by the collectible card game Gods Unchained.
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The nonfungible token (NFT) market saw a positive turn last October, growing for the first time in a year. This is according to a report by the analytics platform, DappRadar.
The volume of NFT sales had a notable reversal with an increase in October of 32%, compared to September. The total value of these transactions exceeded $405 million, although the number of sales decreased by 5%, the report says.
DappRadar puts a special focus on Solana. In October, the volume of NFT transactions on that network grew by 15%, from $24 million to $27.6 million, placing it in fifth place in the ranking.
It also highlights Ethereum's rollup, zkSync Era, which has seen an 88% increase in its NFT trading volume, increasing from $7.3 million to $14 million in the month of October.
However, other networks have observed a significant decrease in their sales volume. Polygon, Starkware and Flow have all seen drops of 48%, 42% and 32% respectively, notes DappRadar.
The positive performance of the NFT market has also benefited several collections. Among the highlights of October is the Bored Ape Yacht Club (BAYC) developed by the company Yuga Labs.
BAYCs saw their sales volume increase by 53% in October, exceeding $54 million, thanks to a 46% increase in the number of unique merchants and sales.
In second place is the popular video game Axie Infinity, followed by the collectible card game Gods Unchained.