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Hard-Hit NFTs See Surge in Sales After Ethereum Merge

  • Bored Ape Yacht Club, CryptoPunk sales soar as demand jumps
  • Global NFT sales declined 675% in August from last year
Bored Ape NFT graffiti in the Wynwood neighborhood of Miami, Florida.

Bored Ape NFT graffiti in the Wynwood neighborhood of Miami, Florida.

Photographer: Eva Marie Uzcategui/Bloomberg
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The price of the world’s second-largest cryptocurrency by market value, Ether, and other digital assets are down, but it’s a different story for nonfungible tokens following the long-awaited upgrade of the Ethereum blockchain.

Sales and prices of NFTs have surged, according to crypto data tracker DappRadar. The upgrade, known as the Merge, also seems to have benefited marketplaces that sell NFTs based on Ethereum, which is the most popular blockchain for this type of token.