NFT Market Insights: In the last 24 hours, the sales volume of Non-Fungible Tokens (NFTs) has risen by 4%, reaching $55,819,024, according to CryptoSlam. However, the number of buyers has decreased by nearly 10%, while sellers and transactions are down by 2.6% and 3.4%, respectively.
Top 10 collections by sales volume show the Pandora collection reclaiming the top spot with a sales volume of $4.6 million, marking a 141% increase in the past day. Meanwhile, Uncategorized Ordinals holds the second position with a 1.7% increase to $3.2 million, and the Seraph Soul Series has seen an extraordinary surge of 203,514% to $2.7 million in sales volume.
However, CryptoPunks experienced the most significant decline in sales volume, dropping by 43% to $1 million. In terms of blockchains, Ethereum leads with a 15% increase in sales to $26.9 million, pushing Bitcoin to second place with a 1% decrease to $15.5 million.
Additionally, the MagicEden Marketplace Ethereum has been launched, offering features like enforced royalties, aggregation, and diamond rewards. This move aims to support creators and foster a sustainable model within the Ethereum ecosystem. Yuga Labs, in collaboration with Magic Eden, introduced this marketplace with a focus on upholding creator royalties, further strengthening their commitment to supporting creators in the NFT space.
Furthermore, the approval of ERC-7231, the identity-aggregated NFT standard, by Ethereum marks a significant milestone in enabling users to own their online identities across platforms. This standard offers benefits like easier onboarding, greater interoperability, and user control over data usage, opening up new avenues for data-to-earn opportunities in blockchain gaming and beyond.
Lastly, the NFT trading card game Parallel has entered Open Beta with Season 1: Toxic Reckoning, offering players access to new cards, cosmetics, and rewards. Each season will introduce new exclusive content, encouraging player engagement and participation.