NFT Sales Slid More Than 74% Lower Than the Month Before in the Digital Collectibles Industry
While digital currencies have been hit hard this month, non-fungible token (NFT) sales have fallen by 74.44 percent in the last 30 days. NFT sales have dropped 17.33 percent in the last seven days compared to the previous week, according to data. In terms of Ethereum value, NFT floor values for popular collections have recovered this week, but with ether’s exchange rate so low, blue-chip NFTs are selling for a lot less than they were last month. NFT sales and interest have been lagging in tandem with the crypto bear market. According to Google Trends (GT), the search phrase “NFT” gets a score of 21 out of 100 this week. The last time a GT score of 100 was achieved for the search phrase “NFT” was during the week of January 16-22, 2022. The previous month was severe for NFT sales, with $4.18 billion recorded the month before and $1.07 billion reported 30 days later per cryptoslam.io measures.
The total amount of NFTs sold this week across 18 distinct blockchains was $184,417,851, which is 17.33 percent less than the $223,085,710 recorded the week before. The Ethereum blockchain network accounted for $151 million in NFT sales this week, although ETH-based NFT sales fell by 18% this week. Monthly sales of ETH-based NFTs are down by 76.38 percent. Solana Beach had the second-highest number of sales this week, with $22.31 million sold, up 3.56 percent from the previous week. With $3.16 million in sales, Binance Smart Chain (BSC) was the third most popular, however BSC-based NFT sales fell 32.45 percent this week.
Meanwhile, Bored Ape Yacht Club (BAYC), with a floor value of 90 ETH, is the NFT collection with the highest floor value. The BAYC floor value was 95.5 ETH 30 days ago, which is almost the same amount in terms of ether price. The Cryptopunks NFT collection’s floor value increased by 40% in the last 24 hours to 66.65 ETH. 30 days ago, the Cryptopunks floor value was 51.9 ETH, which was worth $111K, and today’s floor value is 66.65 ETH, which is worth $71K. While BAYC 7,537 was the most expensive NFT sale this week and for the entire month, Cryptopunk was the second most expensive NFT sale in the last seven days.
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