According to the DApp statistics trackers report on DappRadar, NFT had the best month on record in February. Sales from the first three platforms rose to $ 342 million in February, up nearly 400% from $ 71 million in the previous month.
The sports relics platform NBA Top Shot has dominated the sector and is now responsible for 67% of total NFT transactions. Other NFT DApps in the top three are OpenSea, a public marketplace for buying cryptocurrency, and CryptoPunks, an Ethereum-based collectibles network. CryptoPunks sold a very high price of $ 79 million, with the lowest price for the bad guys going from 10,000 to 32,000 on average.
The DappRadar report also mentions the massive rise in popularity of generative art, an art that, at least in part, was created by autonomous systems.
Higher gas fees on the Ethereum network led many DeFI and NFT projects to leave the platform in February, favoring those with less expensive transactions. Binance Chain recently surpassed Ethereum in transaction volume and unique number of active wallets, and the report noted the rapid growth of several NFT projects copied to Binance Chain such as Binance Punks and Bashmarks.
Despite higher gas fees, CryptoSlam statistics show that seven of the top 10 best-selling NFT products last month are still listed on Ethereum. NBA Top Shot uses the Flow blockchain and the other two are hosted on WAX.
The fastest growing brand out of the top 10 is CryptoKitties, which has grown in popularity with more than 1,300% monthly sales growth. The latest player on CryptoSlam’s Top 10 Selling List is the Capcom Street Fighter II series, which is currently ranked eighth with $ 1.26 million in sales since its launch on February 16.
The NFTs received a lot of attention in the first six weeks of the year as CoinMarketCap added a cult section on February 15th.
A single record NFT selling price was set on February 26, when the NFT Beeple Crossroads sold for $ 6.6 million, more than 100 times the original price.
On March 2, a new NFT sales record was set when electronic music artist 3LAU sold $ 11.6 million in NFT from his website in one night. A few hours earlier, musician Grimes sold $ 5.8 million in NFT in 20 minutes.
Not everyone was impressed by the rapid growth of the NFT. On March 2, Litecoin creator Charlie Lee compared the rise in popularity of NFTs to the obsession with ICOs that has been going on for most of 2017. He believes that its relative simplicity and low barrier to entry will encourage widespread adoption of cryptocurrencies, but it will ultimately be a few NFTs that you need and have value. “