NFT Market Sees Recovery, Records 17.23% in Weekly Sales, Guild of Guardians Leads Sales with $29.61 Million

Fresh data reported today by market analyst Phoenix Group highlighted top NFT collections that recorded highest sales volume this week. The data listed top 12 NFT collections by sales gain over the last seven days.

NFT Collections with Top Sales This Week

Guild of Guardians Heroes

As reported by the data, Guild of Guardians Heroes emerged on the top of the list. The Immutable-ZK based NFT collection drew in $29.61 million sales volumes over the past week, representing a 75.92% sales increase compared to the previous week. A total of 2,409 buyers made NFT purchases in the collection during this week, indicating the platform is experiencing significant user demand.

Courtyard

Courtyard secured the second position. The Polygon-based NFT collection recorded $18.69 million in NFT sales over the week, an increase of 23.25% from the past week. The NFT collection attracted 5,378 buyers on this platform this week, suggesting increased user confidence in the platform.

DMarket

DMarket settled on the third spot. The Mythos-based NFT collection pulled in $9.26 million in sales volume, a rise of 3.85% from the previous week. The collection attracted 18,493 buyers during the period, indicating user trust in the platform.

Gods Unchained

Fourth on the list is Gods Unchained. The Immutable-ZK-based NFT collection pulled in $8.36 million in sales volume in the last seven days, an increase of 69.32% compared to the previous week.

CryptoPunks

The popular NFT collection, CryptoPunks, secured the fifth place, with a sales volumes of $1.97 million, an increase of 21.15% from the previous week.

Other top collections with outstanding NFT sales this week include Pudgy Penguins, Bored Ape Yacht Club, Mad Lads, Mutant Ape Yacht Club, Lil Pudgys, Penini, and Milady Maker as highlighted in the data above.

Why NFT Market Sees Positive Growth

This week, NFT collections recorded weekly sales volumes of $139.65 million, an increase of 17.23% compared to the previous week, as per the data.

According to the data, the NFT market displayed signs of resurgence this week, registering an increase in sales. As digital collectibles gain renewed traction, an increase in buyers has led to this upturn trend.

The surge in sales is because of an interplay of multiple factors like rejuvenation in the wider crypto market, heightened interest in particular NFT collections, and the rise of new NFT utilities and niche platforms. Some market analysts believe that the current increases in weekly NFT sales suggest that the end of protracted bear market could be underway.

The NFT market is strongly connected with the wider crypto market. As crypto assets including BTC and various altcoins record gains, they trigger positive results on the NFT sales.

Some emerging, alternative NFT collections, (like Guild of Guardians, Courtyard, DMarket, and many others) witness increased sales because of varied catalysts like renewed user interest, business collaborations, and advanced utilities. For instance, Courtyard, which mints physical trading cards into digital collectibles, has experienced a tremendous sales rise in recent months.

Lastly, the rise of new platforms and utilities for digital collectibles beyond the use of digital art has led to growth in sales volumes. Niche applications (like gaming, digital real estate, and many others) have attracted users in the NFT market.