The Bored Ape Yacht Club (BAYC) collection rose to the top of the non-fungible token (NFT) market with sales of US$1.33 million as of July 31, according to data from CryptoSlam.
The collection fell in July and through Wednesday, not a single day had topped $1 million.
The unusual increase is attributed to Ape Finance, a project that has implemented a new contract that allows traders to lock in their BAYC NFTs to earn $100 million in fungible BAYC memecoins.
The tokens can be burned to reclaim the NFTs.
One investor who discovered the opportunity early could expect to make a profit of $150,000 in just one minute.
The BAYC NFT collection ranks second in all-time revenue with $3.17 billion, behind Axie Infinity’s $4.27.
The second-ranked collection of the day was ‘n00rdinary kind’, a new collection about Bitcoin with a total sales volume of $1.02 million.
The collection saw 6,601 unique buyers and 1,712 sellers in secondary sales on the day of its debut.
The DogeZuki collection on Solana came in third place, collecting sales of US$613,148. Although sales volume increased from Tuesday’s total of $495,472, it wasn’t enough to hold onto the top spot.
Guild of Guardians Heroes on Immutable followed in fourth place with US$420,610 and Bitcoin Puppets came in fifth with US$385,857.
The Ethereum blockchain, which is home to the Bored Ape Yacht Club, reported robust revenue of $15.65 million on the same day, a significant increase from the $3.93 million recorded the day before.
Ethereum’s market-leading performance as of July 31 contributes to its all-time sales volume of $43.91 billion, maintaining its status as a powerhouse in the NFT market.
The overall NFT market recorded sales of $430.44 million in July, up from $438.67 million in June.
Ethereum bucked the trend with monthly revenue of $142.32 million in July, up from $139.53 in June.
