NFT Sales are Down More Than 65% From Last Month
Non-fungible tokens (NFTs) have become very popular in the last two years and a billion-dollar
industry in a relatively short period of time. However, in recent times, NFT
interest and sales have dipped significantly, and monthly NFT sales
metrics show a gradual decline during the past few months.
A 30-day NFT sales statistics from the analytics web
portal cryptoslam.io reveal that NFT sales have dropped 65.43% since
last month. In the previous month, $4.6 billion in NFT sales were recorded across
17 different blockchains, but over the last 30 days, only $1.59 billion in NFT
sales were settled.
The NFT sales
stemming from the Ethereum blockchain were the most dominant,
capturing $1.31 billion out of the $1.59 billion settled. However, ETH-based
NFT sales are down 67.99% among 250,925 buyers and 1,047,363 transactions.
Many other
blockchains have seen massive NFT decline in sales over the last 30 days,
as Polygon NFT sales dipped 70.86%, Ronin’s non-fungible token sales
dropped by 70.26%, Wax blockchain NFT sales saw a decline of around 43.89%, and
Avalanche’s non-fungible token sales are down 91.43%.
Cronos has lost
76.09% in non-fungible token sales since last month. Arbitrum NFT sales have
slid 66.74% since last month. The top NFT collection last month in terms of
overall sales volume was Otherdeed’s $143,562,582 in sales, but that metric is
down 82.25% lower than last month.
Bored Ape Yacht
Club (BAYC) was the second largest collection in terms of NFT sales, with $119
million recorded. But BAYC’s overall NFT sales have dropped 62.44% lower than
the month before. Out of the top five, the Azuki and Goblintown NFT collections
were the only projects that saw 30-day gains.
Goblintown sales were not recorded last month, and Azuki sales climbed 31.56% higher. The Mutant Ape Yacht Club was also a top-five contender, but the $74.5 million in sales were down 76.77% lower than the month before.
Google Trends
(GT) data worldwide indicates that this week the search term "NFT"
has slid to its lowest point since the first week of October 2021. Weekly
statistics for the week of May 29 through June 4 show the search term
"NFT" has dropped to a score of 23 out of 100. The last time NFT interest
was this low, at least according to GT query metrics, was during the week of
October 3 through October 9. The search term "NFT" tapped a high
score of 100 during the week of January 16 through January 22, 2022, but search
interest has been dropping lower ever since.
Three of the
five most expensive NFT sales during the past 30 days was recorded from the
Otherdeed collection. The sales include Otherdeed
#17,164 which sold for 601 ether or $1.14 million, Otherdeed #66,813 which sold
for 303 ether or $776K, and Otherdeed #55,197 which sold for 214 ether or $563K.
Other NFTs included in the most expensive NFT sales during the last month include Ken Hicks that sold for 332.52 ether or $849K, and Bored Ape #1,725 which sold for 250 ether or $584K. Of the top-20 most expensive NFTs sold in 30 days include Clonex and Ken Hicks, but 18 of the 20 most expensive NFTs sold come from the Otherdeed and BAYC NFT compilations.
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