Ethereum NFT marketplaces continue to shine
Art Blocks, a marketplace for programmable, generative content that is stored immutably on the Ethereum Blockchain, has seen a 105% increase in transaction volume in the last 7-days taking it to $925,000. Furthermore, in the same time scale, the number of sales has increased by almost 35% to 460 while traders are up over 17% now at 398. Looking at the number of sales and the transaction volume data we can work out the average cost of a sale on Art Blocks at approximately $2,000.
The performance of Art Blocks is put into more perspective when compared to other NFT marketplaces currently tracked by DappRadar over the last 7-days. A sea of red has appeared of late as seemingly interest cools for digital collectibles after an incredible start to 2021. Only, Rarible seems to still be pulling in the sales recently with 5,516 sales-generating almost $9 million in volume. Giving an average sale price over the last 7-days of $1,631.
Looking at the top 100 NFT sales occurring on Art Blocks in the last 24 hours using the DappRadar NFT rankings reveals more insight. We see that 2 big sales have occurred that add almost 20% to the total volume generated in the last 7-days. Furthermore, this obviously bucks the average price considerably.
Art Blocks is a storefront for genuinely programmable on-demand generative content that is stored immutably on the Ethereum blockchain. Users pick a style that they like, pay for the work, and a randomly generated version of the content is created by an algorithm and sent to their Ethereum account. The resulting piece might be a static image, 3D model, or an interactive experience. Each output is different and there are endless possibilities for the types of content that can be created on the platform.