NFT Sales Soar to Nearly $1 Billion in January 2023- Are We Really in for a Bull Run?


After having a rough 2022, NFTs (Non-Fungible Tokens) sales have started the year 2023 on an upward trend. NFT sales have surged to $997.53 million in January 2023, a 41.96% increase from December 2022. data shows that the Ethereum NFT sales were leading with $784.87 million, which translates to 78.681% of the total NFT sales for the month.

Solana came second after Ethereum in terms of total NFT sales. It generated sales worth $150.4 million in January 2023, which translates to 15.07% of the total NFT sales. Other blockchain networks in the list of top 5 in terms of January 2023 NFT sales are Cardano, Immutable X, and Polygon respectively.

Bored Ape Yacht Club topped the list of the top selling NFT collections in January 2023, generating sales worth 71.24 million. The BAYC sales rose by 45% from December. The Mutant Ape Yacht Club generated $58.85 in NFT sales, a 47.91% increase from December.

Bored Ape Kennel Club (BAKC) recorded a 309% increase in sales from December, reaching $42.33 million. Other top NFT collections in terms of January 2023 sales include Azuki, Otherdeed, Art Blocks, Sorare, Degods, Captainz, and Hausphases.

The top 5 NFT collections in January 2023 NFT sales generated a total of $242.56 million in sales, which translates to 24.31% of the total NFT sales. The top 10 NFT collections in terms of January NFT sales generated sales worth $336.26 million, accounting for 33.70% of the $997.53 million NFT sales generated in the month.

The most expensive NFT sold in January 2023 was BAYC #5,840, which fetched a price of $796,444. BAYC 4,025 was sold for $613,501 while BAYC #8,483 was sold for $581,845. CryptoPunk #9,092 and CryptoPunk #8,483 were the fourth and the fifth most expensive NFTs sold in January 2023, fetching a price of $496,903 and $490,333 respectively.

The OpenSea NFT marketplace was leading in terms of total NFT sales, with 40% of last month’s NFT sales executed on the platform. OpenSea data shows that Polygon NFT sales were many compared to Ethereum, although Ethereum beat Polygon in terms of the trading volume. 30% of the NFT sales were executed on the Blur NFT marketplace, while 8% of the sales were executed on the X2Y2 NFT marketplace. 7% of the NFT sales were executed on Magic Eden while 2% were executed on Looksrare. This is according to data obtained from

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By darnell
February 2, 2023