For the seventh week in a row, non-fungible token (NFT) sales have continued to decline. In the past week alone, NFT transactions totaled $66.11 million, down 11.65% from the previous week.
NFT Sales Are Running Out: The Ruthless Seven-Week Descent
While the broader crypto market saw some uptick, NFT sales did not reflect this positive trend. Over the past seven weeks, NFT sales volumes have fallen week over week.
Seven-day NFT sales according to cryptoslam.io data.
Despite this week’s sales being 11.65% lower than the week before, there is a bright spot: the number of NFT buyers rose 17.77%, while the number of sellers rose 15.82%. Data sourced from cryptoslam.io shows that NFT sales on the Ethereum platform accounted for the lion’s share, accounting for $38.10 million of the weekly revenue.
This indicates that 57.63% of all NFTs sold during the week were based on Ethereum. However, sales of ETH-based NFTs fell slightly this week by 0.84%. In the rankings, Mythos NFT transactions took second place, raising $8.79 million – a 12.29% increase from last week.
Solana rounded out the top three with revenue of $6.86 million, up 8.87% for the week. The Mythos-linked Dmarket collection topped this week’s NFT sales charts, hitting $8.72 million, up 12.32%. Close behind was Bored Ape Yacht Club (BAYC) with $4.13 million, up 25.18%.
Meanwhile, Polygon’s Draftkings took third place, raking in $3.28 million, although it suffered an 18.24% dip. Sorare followed closely, earning $2.87 million – an increase of 3.87%. Cryptopunks wasn’t far behind, amassing $2.79 million, a staggering 61.41% increase from the previous week.
The top five NFT sales this week, according to data from cryptoslam.io.
The standout sale of the week was Cryptopunk #2367, which raised a whopping $143,062 just three days ago. BNB’s Starcraft Planets #1498 was auctioned just 24 hours ago for $32,880, and Bitcoin’s Ordinal Maxibiz was priced at $30,646 on Magic Eden three days ago.
In a notable and similar trend, today’s blue-chip NFT collectibles experienced a marked decline in rock-bottom prices. Cryptopunks have fallen to 45 ether, and BAYC NFTs plummeted to 26.30 ether, according to nftpricefloor.com. This dip reflects a broader downward trend seen in the market values of blue-chip digital collectibles.
What do you think of the last seven days of NFT sales? Share your thoughts and opinions on this topic in the comments below.