The world of digital assets has come crashing down in recent weeks. NFT markets took the brunt. However, markets are trying to turn around with the recent surge in NFT sales.
Now you may ask who will be the new winner of the renewed NFT market? The shining light in this pool of crimson is the BNB blockchain.
Build and build!
Among the new leaders of the NFT world is the BNB blockchain from Binance. Nowhere near the top before the Terra and 3AC crashes, BNB has risen radically in recent weeks. Call it luck, call it good timing, but BNB has managed to step up its game at great timing in the crypto space. In last week’s ranking, it ranked third in NFT blockchain sales behind Ethereum and Solana.
Headwinds across the cryptosphere played in BNB’s favor. The BNB chain reached its sales record on May 31 when sales peaked at $2.25 million. Remarkably, it was able to hold its own during the fall in June. At the end of the month, BNB recorded more than 4,000 unique customers and more than $1.6 million in sales. The data here shows a very positive chart for BNB with new web3 ambitions.
Two NFT collections on BNB have stood out in the past week. ‘Day of Right club token’ and “FGDNFT” increased sales to rank in the top 15 NFT collections this week.
The Day of Right club chip collection increased by a whopping 195% during the week. Sales of the collection totaled $2.85 million, pushing it into the top 10 on the list. This collection was launched in early June 2022, but in its first month it made a decent $3.15 million.
On the other hand, FGDNFT is another BNB collection that has made huge strides in the market. It was up a whopping 532% for the week with sales of over $1.86 million.
This collection is also in its infancy as it was only launched in May. However, it has increased manifold during the past weeks. Average sales in July, at $3.7 million, are already higher than in May and June.
The BNB ecosystem had a breakout year in 2022. It comes at a time when the broader crypto market is reeling under bear pressure.