SuperRare sets new monthly sales record even with fewer buyers

NFT marketplace SuperRare may have just set a new monthly record of $31.4 million for total sales volume, beating its March record of $29.5 million, according to Dune Analytics.

This record breaking comes, even with a week to spare until the end of October, so there’s absolutely enough room to do even more.

SuperRare is a digital art marketplace on Ethereum, where each artwork is authentically created by an artist in the network, and then tokenized as a collectible.

As earlier stated, the monthly sales record was previously $29.5 million in March, with 929 active collectors purchasing 3,179 artworks. At the time, average artwork price range was between 3.0 to 5.5 Ether (roughly $12,600 to $23,000).

However, despite making better sales figures this month, SuperRare presently have less than half of the number of active collectors it had on the marketplace back in March.

So far in October, there have been only 372 active collectors on the marketplace, purchasing 726 items of values ranging from 9.5 to 12.2 Ether, that is $40,000 to $51,000 in equivalence.

This only goes to show that there are fewer collectors, buying fewer art pieces on SuperRare. But even with having fewer buyers, SuperRare definitely has buyers with great purchasing power. The data show that these buyers have been purchasing more expensive NFTs.

Recall that in late September, Snoop Dogg purchased an XCOPY piece for a record shattering 1300 ETH. That’s $3.9 million for a single collection.

Another example is the Starry Night Capital, a $100 million NFT-collection fund. Starry Night Capital alone accounts for almost half of SuperRare’s total trading volume in this month of October. Just over last weekend, they also purchased ‘Dankrupt’ from artist XCOPY for 469 ETH, or $1.9 million on the SuperRare market.