Ethereum Name Service Tops NFT Market, Hits $4.27M in Sales

In the NFT market, the Ethereum Name Service (ENS) took center stage with revenues exceeding $4.27 million. The Ethereum Name Service uses NFT technology in its decentralized URL method on the Ethereum blockchain, even though it isn’t an NFT collection per se. Users may convert addresses on Ethereum into formats that are simple to read with this method. In essence, an ENS domain registration grants you a distinct NFT that is linked to the domain name of your choice, which you can then transfer or sell as with any other NFT.

Diverse Range of Top Sellers

Following closely behind ENS, the $PIZZA BRC-20 NFTs, hosted on the Bitcoin blockchain, secured the second position with $2.18 million in sales. Even though it topped the charts on Sunday with $7.12 million, sales of this collection fell. With $1.24 million in sales, Guild of Guardians Avatars on the Immutable network took third place.

With sales of $987,910, the Blast’s Fantasy Top collection came in fourth place, and with $635,539 in sales, the Genesis Fanta Field collection on Solana made its debut in the top 10. With $583,411 in sales, the DMarket collection, a component of the Mythos network also left its impact, coming in sixth.

With $470,907 in sales, the Bored Ape Yacht Club, a flagship NFT from Yuga Labs and the second-highest seller ever, finished the day in eighth place. The OKX NFT Creation series, based in Polygon, came in just behind, taking eighth place with $414,817 in sales. With sales of about $350,000 apiece, two more Polygon collections Matr1x Fire Weapon and TTAvatars rounded out the top 10.

Blockchain Breakdown

Regarding the blockchain, Ethereum, under the leadership of ENS, commanded the most daily sales amounting to $8.45 million, a notable rise over $4.51 million the day before. The daily sales volume on the Bitcoin blockchain was $4.11 million, a decrease from the $11.03 million that was reported on June 9. Sales on the Solana blockchain were $2.68 million, however transactions on the Polygon blockchain totaled $2.44 million, which was a greater volume. Immutable recorded $1.56 million in sales, while the Blast blockchain recorded $988,646 in sales. 

In summary, ENS’s surge in NFT sales, alongside a diverse range of collections and blockchain activity, underscores the growing prominence and dynamism of the NFT market.