Forkast 500 NFT Index slides, Polygon blockchain NFT sales jump nearly 250%

The Forkast 500 NFT Index fell in Asia trading on Friday morning to a near two-month low, with sales on the Ethereum and Solana blockchains, the two biggest for non-fungible tokens, slipping back. Polygon, the third biggest, saw a sales surge. The index dipped 1.12% to 4,187.01 in the 24 hours through 9:00 a.m. in Hong Kong. The index by Forkast.news data partner CryptoSlam is a measure of the performance of the global NFT market based on 500 eligible smart contracts.

See related article: Most of NFT industry working on recycled liquidity, says Forkast Labs’ co-founder

Fast facts

• Global NFT sales slipped 1.58% to US$27.3 million, while the number of unique buyers rose 9.75% to 80,017, according to data from CryptoSlam.

• Sales on Ethereum, the leading blockchain network for NFTs, slumped 46.71% to US$21.1 million in the past 24 hours, but the total number of on-chain transactions increased 5% to 104,849. The Forkast ETH NFT Composite – which measures the performance of the Ethereum NFT market through 250 smart contracts – edged down 1.36% to 1,395.69.

• Solana, the second largest NFT blockchain, saw sales decline 33.7% to US$2.59 million. The Forkast SOL NFT Composite — measuring the performance of the Solana NFT market through 100 smart contracts — lost 2% to 1,160.70

• NFT sales on the third largest Polygon network jumped 246.45% to US$2.56 million. .

• Sales by NFT type were led by Coinllectibles, the art and auction-focused NFT project on Polygon, with over US$2 million from 25 transactions in the last 24 hours.

• Ethereum-based Otherdeed NFT sales surged 131% in the last 24 hours to US$1.57 million, recording the second highest in volume with 288 transactions and 451 unique buyers. Otherdeed NFTs represent virtual plots of land within the Otherside metaverse.

• The Bored Ape Yacht Club (BAYC) NFT collection placed third in sales, rising 104% to US$1.4 million in the 24 hours leading up to Friday morning in Asia. It had 13 transactions and 35 unique buyers.

• Garden Point Issue 1, the Ethereum-based NFT collection from Web3 comic publishing platform Kometh, was the most traded collection during the last day with 19,912 transactions worth US$338,781 and including 6,289 unique buyers. “Garden Point” is the latest web-comic published on Kometh, where NFT holders get exclusive access to the content, according to the platform’s website.

See related article: CFTC chair calls Ethereum a commodity, in contrast to SEC chair Gensler’s position