The Ethereum blockchain recorded $92 million in weekly NFT sales, driven by interest in collections like CryptoPunks and Pudgy Penguins.
In this week’s newsletter, read about how sales volumes of non-fungible tokens (NFTs) kicked off December with a strong performance, find out about an investigation by the Brooklyn District Attorney’s Virtual Currency Unit that led to shutting down 40 fraudulent NFT marketplace sites, and, in other news, how Magic Eden’s token dipped on its debut and RARI Foundation’s Jana Bertram remains bullish on NFTs.
NFTs performed well at the beginning of December, recording $187 million in weekly sales in the first week. The sales volume for December’s opening week surpassed November’s best week, which hit $181 million.
Ethereum led the top blockchains for NFTs, with $92 million in weekly sales, marking a 44% week-on-week increase. Ethereum-based collectibles like CryptoPunks and Pudgy Penguins had strong performances, with weekly volumes and floor prices increasing.
