Digital collectible sales have experienced a substantial spike following a prolonged downtrend. Nansen AI, a blockchain analytics firm, reports a significant surge in sales volume within the NFT (non-fungible token) ecosystem over the past five weeks.

Nansen’s data indicates that on October 9th, the NFT sales were at their lowest, with the digital collectibles market generating only 29,704 ETH in sales, equivalent to $56 million at the prevailing market rates. However, by November 5th, this figure had surged to 68,342 ETH, representing a substantial fiat sales value of $129 million.

Within this period, Blur NFT emerged as the dominant marketplace for digital collectibles, accounting for 171,926 ETH in sales (approximately $305 million). OpenSea, a major player in the NFT space, followed with a sales volume of 37,765 ETH (less than $100 million).

Notably, NFTGo, an NFT insights platform, observed improvements in trading activities for several blue-chip digital collectibles in October. NFTs like Bored Ape Yacht Club (BAYC), Azuki, Pudgy Penguins, The Captainz, Memeland, and Meebits NFTs saw an average increase of 11% in their trading volume during that month.

BAYC led the pack with an Ether trading volume of 35,226 ETH, equivalent to around $66.5 million in October. Mutants Ape Yacht Club (MAYC) followed with 14,947 ETH in sales, and The Captainz ranked third with 9,948 ETH.

While October marked a resurgence for cryptocurrencies like Bitcoin and Ethereum, digital collectibles also saw fortunes shift. NFTs experienced a 15.2% increase in total trading volume in October, amounting to over $427 million. The total transaction count remained at 1,039,735, indicating that the broader market’s bullish momentum led to an increase in the value of individual collectible assets.

This data reflects the ongoing dynamism within the NFT space, and its potential for growth and transformation.