Category: NFT News

NFT Market Today: Ethereum Dominates with $10M+ in Sales; ERC-404 Pandora Takes the Lead

TL;DR

  • Pandora leads daily sales in the NFT market with US$1.6 million.
  • Ethereum experiences a notable drop in sales.
  • Collections such as Bored Ape Yacht Club and Azuki show a significant increase in transactions.

On a day marked by surprising moves in the non-fungible token (NFT) market, Pandora, an Ethereum-based collection and pioneer of the experimental ERC-404 token standard, stood out by leading daily sales with an impressive total of US $1.6 million.

This achievement was even more notable due to the significant drop that Ethereum experienced in NFT sales during the same period.

The ERC-404 standard, which allows the creation of semi-fungible tokens by combining features of fungible tokens and NFTs, has fueled Pandora’s success.

According to Pandora’s account, this standard has allowed NFTs to stay relevant in the “memecoin” cycle, allowing projects to release both an NFT collection and a “memecoin” at the same time.​

However, despite Pandora‘s dominance, Ethereum suffered an apocalyptic drop in sales according to data from Snapshot.

This situation has led some users to observe with concern the collapse of the leading cryptocurrency in the non-fungible token market.

Meanwhile, other collections such as Bored Ape Yacht Club and Azuki also stood out in the market.

The Bored Ape Yacht Club collection, known for its prestige in the market, achieved second place with sales worth US$1.5 million.

For its part, Azuki, an anime themed collection, experienced a spectacular increase of 1,322%, reaching sales worth US$1.3 million.

This increase was attributed to the announcement of Kinu Nishimura’s participation in the Azuki anime anthology series.

NFT Today: Ethereum Dominates with Sales of Over $10M; Pandora ERC-404 Takes the Lead

NFT sales continue to reactivate in the most notable collections

Although popular collections like CryptoPunks, owned by Yuga Labs, failed to break into the top 10, one asset, CryptoPunk #7446, sold for US$182,998, standing out as the best-selling asset of the day.

In the case of Solana, the Froganas collection saw a slight increase in sales, while Mad Lads, another Solana collection, suffered a 44% decrease in sales.

NodeMonkes was the only Bitcoin collection in the top ten list, coming in fifth place with sales of at least $1 million.

While Pandora and other collections showed impressive performance in the NFT market, Ethereum faced significant challenges, suggesting major changes in the NFT ecosystem.


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