Non-fungible token (NFT) sales are down a great deal, as 30-day statistics show NFT sales recorded last month saw just over $4.6 billion settled but today, sales are down 65.43% to $1.59 billion. Furthermore, Google Trends data indicates that interest in NFTs has dropped to the lowest point since the first week of October 2021.
From $4.6 Billion to $1.5 Billion — NFT Sales Slide More Than 65% Lower Than the Month Before
Over the last two years, non-fungible tokens (NFTs) have become very popular and a billion-dollar industry in a relatively short period of time. However, in recent times NFT interest and sales have been slashed significantly, and monthly NFT sales metrics show a gradual decline during the past few months.
For example, 30-day NFT sales statistics from the analytics web portal cryptoslam.io reveal that NFT sales have dropped 65.43% since last month. The month prior, $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.
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 sales declines 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%.
Palm-based NFT sales are down 60.59%, Cronos has lost 76.09% in non-fungible token sales, and 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 the month prior.
Bored Ape Yacht Club (BAYC) was the second largest collection in terms of NFT sales with $119 million recorded. But…
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