The hard-hit NFT market experienced a minor revival after Ethereum’s merger last week. According to a report from Bloomberg, the purchases and prices of the big NFT names on Ethereum increased.
Just 24 hours after the merger, purchases of the popular Bored Ape Yacht Club collection were up 187 percent. With the Crypto Punks, that was at least 56 percent. The largest NFT exchange OpenSea also saw a surge in trading volume of 77 percent, while the average price for an NFT on the platform rose 227 percent to $114.
So, amid generally falling prices and activity in the NFT sector, the Ethereum merger offers a small bright spot for the crypto world. Further upgrades on the blockchain in terms of speed and lower fees should benefit NFTs.