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The global non-fungible token market, once characterized by meteoric rises and sudden falls, continues to showcase strong resilience and is slowly moving from a recovery mode to a strong market revival in 2024. Just a few hours ago, a Bored Ape non-fungible token collection sold for over $1.4 million, further proving that the non-fungible token market is still alive and lively.
Last month, a report from nftevening.com revealed the troubling state of the non-fungible token market, with 96% of NFTs considered dead. The report scrutinized 5,000 NFT collections and 5 million transactions to assess the current state of NFTs. This report highlighted the high rate of unprofitability among NFT holders and the fleeting lifespan of the majority of NFT collections. This report may lack relevance as the NFT market continues to record positive growth.
Bored Ape #7940 NFT Sells For +$1.4M
Data compiled by CryptoSlam.io, a comprehensive data aggregator platform that facilitates users with information about buying, selling, and trading digital collectibles, confirm that the Bored Ape Yacht Club #7940 NFT collection has sold for $1.43 million on the X2Y2 NFT market platform. This gigantic sale has pushed the total Bored Ape Yacht Club NFT sales volume up over 900% in the past 24 hours. In the past 24 hours, the Bored Ape NFT collection has raised a sales volume of $1.6 million.
Launched in April 2021, the Bored Ape Yacht Club is a non-fungible token collection from the digital asset incubation studio featuring a limited supply of 10,000 NFTs hosted on the Ethereum blockchain network. Holding a Bored Ape provides access to an exclusive Discord community and, occasionally, real-world parties. The Bored Ape NFT collection has exponentially grown to become one of the most acclaimed NFT collections in the NFT market.
NFT Market Health Check – Daily NFT Sales Jump 33%
The global non-fungible token market has recorded some remarkable positive gains today after Bored Ape and other NFT collections exploded in trading sales volume. In the past 24 hours, the global NFT market has amassed a trading sales volume of $14 million, up 33% from the past day. During this time, Ethereum is leading the NFT market with $6.5 million, up 147% from the past day.
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