Ethereum NFTs Drive $304 Million in Weekly Sales, Led by Pudgy Penguins and Azuki

Ethereum-based non-fungible token (NFT) collections saw a remarkable surge in sales last week, helping to push total digital collectible sales to $304 million. According to data from CryptoSlam on December 21, Ethereum NFTs alone accounted for $201 million in sales, a 76% week-on-week increase. This figure represents a dominant 66% of the total NFT sales volume across all blockchains during the past seven days.
In contrast, Bitcoin-based NFTs brought in $40 million, while Solana-based collections recorded $29 million in sales. Other blockchain platforms, including Mythos Chain, Immutable, Polygon, and BNB Chain, contributed a combined $25.9 million in weekly volume. The latest sales figures have surpassed the $296 million NFT sales record set in September, marking a significant rebound after a slowdown earlier in the year.
Ethereum Collections Dominate Sales Charts
Ethereum-based collections continued to dominate the NFT rankings, with seven of the top 10 NFT projects by sales volume last week being Ethereum-based. The Pudgy Penguins collection took the lead, generating an impressive $54.4 million in sales, making it the top-performing NFT collection for the week. Close behind, the LilPudgys collection, also from Pudgy Penguins, recorded nearly $20 million in sales.
The Azuki NFT collection saw a notable surge, increasing 130% week-on-week to reach $18 million in sales. Azuki Elementals, a sub-collection within the Azuki project, posted an even more impressive 226% growth, recording $7 million in sales.
Other popular Ethereum-based collections, such as Doodles and CryptoPunks, also made strong showings. Doodles recorded $13 million in sales, while CryptoPunks brought in $7.4 million, securing spots among the top 10 collections for the week.
Strong Momentum for NFTs in December
NFT sales volumes have been consistently strong throughout December. In the first week of the month, digital collectibles achieved $187 million in sales, with Pudgy Penguins once again leading the charge with $25 million in sales. As of December 21, total NFT sales for the month have already reached $678 million, surpassing the previous month's total of $562 million. This marks December as the highest-performing month for NFTs since May, when sales hit $602 million.
Despite the success of Pudgy Penguins' NFT sales, its associated cryptocurrency token, Pudgy Penguins (PENGU), has faced challenges. After its launch on December 17, the token saw a sharp decline, dropping more than 50%. According to CoinGecko data, the token is currently trading at $0.03, more than 55% below its peak price.
Conclusion
The strong performance of Ethereum-based NFT collections is driving the current surge in the digital collectible market, with Pudgy Penguins, Azuki, and Doodles leading the way. As December continues to show impressive sales figures, it’s clear that NFTs are in the midst of a significant rebound, with Ethereum collections continuing to dominate the market. However, challenges remain in the broader NFT ecosystem, with some associated projects, like Pudgy Penguins' token, facing hurdles in their broader market performance. As the month progresses, all eyes will be on whether this momentum can carry through into the new year.
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