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The non-fungible token market is seeing a dramatic comeback in 2024, with recent market data indicating a significant increase in transaction sales volumes across most NFT collections. The Bored Ape Chemistry Club NFT collection is the perfect example, with daily sales volume up over 1,100%. The recent recovery of the global NFT market has emerged after a prolonged period of stagnation that left most NFTs almost worthless.
Bored Ape Chemistry Club NFT sales jump +1,100%
Data compiled by CryptoSlam.io, an on-chain cryptocurrency market aggregator and non-fungible token explorer, shows that Bored Ape Chemistry Club has significantly increased transaction sales volume. Over the past 24 hours, the NFT collection generated $276,640 in sales volume. Meanwhile, the Bored Ape Chemistry Club NFT sales volume jumped 1,170% from the previous day.
Launched in August 2021, Bored Ape Chemistry Club is a series of non-fungible tokens from digital asset company Yuga Labs. It offers a limited edition of 510 NFTs hosted on the Ethereum blockchain network. Yuga Labs is a renowned digital asset incubation studio that aims to shape the future of Web3 through storytelling, experiences, community and blockchain gaming.
The digital asset company is home to numerous non-fungible token collections, including the Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club, Kodamara, Voyager, and Twelvefold NFT. Yuga Labs also manages other non-fungible token collections, including the Otherdeed for the Otherside, CryptoPunks, and Meebits non-fungible token collections.
Other NFTs in the Yuga Labs NFT Wallet
Earlier this year, Yuga Labs acquired digital asset incubation studio Proof Collective, which encompasses large NFT collections and projects such as Moonbirds, Oddities and Grails. Yuga Labs has become an exceptionally powerful and influential organization. In 2022, Yuga Labs acquired WENEW and its flagship NFT collection and virtual community, 10KTF.
The recent increase in the Bored Ape Chemistry Club’s NFT collection is a profound testament to the growing popularity and adoption of NFTs, signaling a bullish trend in the market. The non-fungible token market also saw positive growth today, amassing a sales volume of $26 million, up 2.95% from the previous day. Ethereum, Bitcoin, Solana, and Polygon NFTs lead the daily sales volume, with over $3.1 million.
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