Latest Posts

Monthly NFT Sales Have Dropped Over 65% Lower Than the Month Prior, NFT Google Queries Sink

- Advertisement -


Sales of non-fungible tokens (NFTs) have dropped significantly as 30-day statistics show that NFT sales recorded last month were just over $4.6 billion, but today sales are down 65.43% to $1.59 billion. In addition, Google Trends data shows that interest in NFTs has fallen to its lowest level since the first week of October 2021.

From $4.6 billion to $1.5 billion – NFT sales fell more than 65% compared to the previous month

- Advertisement -

Over the past two years, non-fungible tokens (NFTs) have become very popular and have grown into a billion dollar industry in a relatively short period of time. Recently, however, NFT interest and sales have declined significantly, and monthly NFT sales figures show a gradual decline over the past few months.

- Advertisement -

For example, 30-day NFT sales statistics from an analytics web portal. cryptoslam.io show that NFT sales fell 65.43% from last month. A month earlier, $4.6 billion of NFT sales were registered on 17 different blockchains, but only $1.59 billion of NFT sales have been settled in the past 30 days.

- Advertisement -

NFT sales related to the Ethereum blockchain were the most dominant, capturing $1.31 billion out of $1.59 billion. However, ETH-based NFT sales fell 67.99% among 250,925 buyers and 1,047,363 transactions.

Many other blockchains have experienced a sharp drop in NFT sales over the past 30 days, as Polygon NFT sales fell 70.86%, Ronin non-fungible token sales fell 70.26%, Wax blockchain NFT sales fell approximately 43.89%, and Avalanche non-fungible token sales fell 91.43%.

Palm-based NFT sales fell 60.59%, non-fungible Cronos token sales lost 76.09%, and Arbitrum NFT sales fell 66.74% from last month. The best NFT collection last month in terms of total sales was Otherdeed’s sales of $143,562,582, but this figure is 82.25% lower than the previous month.

The Bored Ape Yacht Club (BAYC) was the second largest collection in terms of NFT sales with $119 million registered. But total NFT BAYC sales fell 62.44% from the previous month. Of the top five collections, Azuki and Goblintown NFT were the only projects to post 30-day gains.

Goblintown sales were unrecorded a month earlier and Azuki’s sales were up 31.56%. Mutant Ape Yacht Club was also in the top five, but sales of $74.5 million were down 76.77% from the previous month.

In other words, bored monkeys dominate the most expensive NFT sales last month – Google Trends data shows NFT interest is at its lowest level since October 2021.

Google Trends (GT) data from around the world shows that the search term “NFT” has dropped to its lowest level since the first week of October 2021 this week. Weekly stats for the week of May 29 to June 4 show that the search term “NFT” dropped to 23 out of 100. The last time interest in NFT was this low, at least according to GT’s search results, was during the week 3 to October 9th. 100 during the week of January 16-22, 2022, but interest in search queries has been declining since that day.

Of the top five most expensive NFT sales in the last 30 days, three are related to the Otherdeed collection. Sales include Otherdeed No. 17,164 sold for 601 Ether or $1.14 million, Otherdeed No. 66,813 sold for 303 Ether or $776K, and Otherdeed No. 55,197 sold for 214 Ether or $563K.

Other NFTs included in the most expensive NFT sales in the past month include Ken Hicks (Token ID: 6,908) which sold for 332.52 Ether or $849K and Bored Ape #1,725 ​​which sold for 250 Ether or $584 one thousand dollars. Of the 20 most expensive NFTs sold in 30 days, other collections include Clonex and Ken Hicks, but 18 of the 20 most expensive NFTs sold are from Otherdeed and BAYC NFT compilations.

What do you think about the decline in NFT sales in the last 30 days by more than 65% compared to the previous month? Let us know what you think about it in the comments section below.

Denial of responsibilityA: This article is for informational purposes only. This is not a direct offer or solicitation to buy or sell, nor is it a recommendation or endorsement of any products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is directly or indirectly liable for any damage or loss caused or alleged to be caused by the use of or reliance on any content, goods or services mentioned in this article.



Credit : news.bitcoin.com

- Advertisement -

Latest Posts

Don't Miss