November NFT Sales Rise 13.2% Despite Crypto Price Slump

December 2, 2022

Non-fungible token (NFT) has made a strong in the market and increased its sales upto 13% in November.

It was the first NFT jump in 7 months despite sharp declines in crypto prices following FTX collapse earlier in the month.

November sales rose by 13.2% from October, despite an 18.75% decline in individual transactions, according to NFT aggregation site CryptoSlam.

In an interview with Forkast, the NFT relations strategist Yehudah Petscher said FTX collapse has been creating uncertainty in the NFT market, he said.

NFT strategist also feels enthusiastic for the NFT future in a Web3 decentralized internet built around blockchains.

Solana blockchain was among the worst hit by FTX collapse.

It had a market cap of US$11 billion at the start of the month, which had slumped to just US$4.9 billion as of Friday afternoon in Asia.