Over the past week, the non-fungible tokens (NFTs) market has seen a decline, with sales dropping 12.67% compared to the previous week, totaling $255.22 million. Ethereum took the lead in NFT sales, raking in $133 million, while Solana followed with sales of over $46 million, relegating Bitcoin to third place with sales of $40.9 million.
7-day NFT sales slump follows last week’s surge
This past week, NFT sales fell by 12.67% compared to the previous week, with the volume of NFT transactions also down by more than 11%. Of the top five blockchains by NFT sales volume, four experienced a decline in sales from week to week, ranging from an 11.27% decline for Ethereum to a 21.61% decline for Bitcoin.
Polygon, which ranks fourth in terms of revenue, brought in $6.52 million, down 21.59% from the previous week. Mythos, on the other hand, bucked the trend and registered a 3.38% increase to secure $6.51 million in revenue and take fifth place, according to cryptoslam.io statistics.
This week, Pandora led the way in sales, with sales of $39.93 million, despite a decline of 33.41% from the previous week. Solana’s Transdimensional Fox Federation took second place, earning $6.95 million, a remarkable 28.22% increase within a seven-day span.
Pudgy Penguins saw a significant increase in revenue of 38.34%, bringing in $6.64 million. Dmarket posted revenue of $6.31 million, marking a modest increase of 3.16% from the previous week. Meanwhile, Uncategorized Ordinals landed in fifth place, with revenue totaling $6.24 million, a steep drop of 53.04% from the previous week’s revenue.
This week’s spotlight also shone on other notable NFT collections such as Mad Lads, Doodles, Moonbirds, Bored Ape Yacht Club (BAYC) and Gods Unchained, which rounded out the top ten list. Top sales honors were claimed by Pandora No. 54,222, which grossed a whopping $1.48 million a day ago.
Cardano’s Happy Hoppers Club Poster #09281 had the second highest sales, reaching $863,409, while Ordinal Maxi Biz (OMB) #a3b668 earned $162,150. The fourth most expensive transaction was for gUSDC Locked Deposit #15, which changed hands for $99,999 USDC. Rounding out the list, BNB-issued Lockdealnft #33254 was purchased for $90,743.
This past week has been a bit of a mixed bag in the NFT world. While the broader market took a downturn, highlighting the volatile nature of the NFT market, certain highs still managed to keep the pulse of the market alive.
Notably, Moonbirds surged 1,057% this week following Yuga Labs’ acquisition of its intellectual property. Similarly, Yuga’s BAYC collection saw an increase of 23.36%. Conversely, Bitcoin’s presence in the NFT sector has declined significantly, culminating in this week’s low, which has relegated sales to third place in the rankings.
What do you think of the NFT sales numbers this week? Share your thoughts and opinions on this topic in the comments below.