Non-fungible token sales hit new records in July according to nonfungible.com.According to data, the last week of the month saw the highest ever dollar sales volume.After a surge in popularity and high prices earlier in the year, the NFT market has been cooling down in recent months.Subscribe to our daily newsletter 10 Things Before The Opening Bell.According to nonfungible.com data, July saw record sales of non-fungible tokens as buyers returned to the digital collectibles marketplace in response to a wide recovery in cryptocurrency prices.A record $363.8million was spent on 157.801 NFT sales in the thirty days prior to August 1. This compares with just under $60 million (111,030) in the 30 days prior to July 1.In July, the cryptocurrency market was under severe pressure. Bitcoin fell below $30,000 for just one month. The digital token closed the month at $40,000, a gain of more than 18% thanks to a rush to buy.According to nonfungible.com data, the total NFT sales reached $208.01 Million in the week ended August 1. This is the highest amount ever. According to data, the money was spent on total 40,097 NFTs. The purchases were made using 15,840 unique wallets.NFTs are digital assets that can be used to store audio, video, or images. They are created using blockchain technology. They are unique and cannot be exchanged. They can often be viewed online by anyone. However, they can only ever be owned by one person, which makes them particularly appealing to collectors.Eighteen of the top ten sales for the week ended August 1 were part CryptoPunks' collection. This is a series featuring 10,000 virtual characters, each 24x24 pixels and 8 bits. It was inspired by London's punk scene. Larva Labs launched them in 2017 as the first NFTs for digital art. The highest sale was worth more than $5.5 million.Christie's, the world's biggest auction house, sold nine CryptoPunks earlier in the year for $17million. The rare CryptoPunks are particularly valuable. Sotheby's luxury auction house sold a single figure, 'Covid Alien', for $11.8 million in June.NFT markets gained considerable attention and traction in January. They exploded in March when digital artist Beeple sold a piece of his as an NFT for $69 million. Numerous high-profile celebrities have auctioned NFTs, including Katy Perry and Jack Dorsey of Twitter.
