Following a lackluster week that saw non-fungible token (NFT) sales slip by 29.35% last week, the last seven days of NFT sales have dropped further losing more than 7%. Out of 12 different NFT-supporting blockchains, Solana was the only gainer, in terms of NFT sales during the past week.
NFT sales fall after lackluster market action last week
While cryptocurrency markets have faced extreme volatility during the last two weeks, NFT sales, in general, have felt the wrath of the storm. On February 16, Bitcoin.com News reported on sales sliding by 29.35% and nine days later, NFT sales are more than 7% lower than the week prior.
The seven-day NFT stats in this report come from metrics recorded by cryptoslam.io and dappradar.com. Over the past week, NFT’s sales volume was $546 million, down 7.71% from last week’s NFT sales. The metrics indicate that 307,508 NFT buyers made 1,540,140 transactions.
Ethereum captured a large majority of last week’s NFT sales with $474.8 million, but that’s around 3.51% less than the previous week. Among the top 12 NFT blockchain platforms, Solana saw the group’s only increase in NFT sales, jumping 3.03% over the past week.
The biggest losers this past week include Binance Smart Chain down 76.68%, and Avalanche down 54.56% in terms of weekly NFT sales. The collection with the most sales this week according to cryptoslam.io, is 3landers with $40,828,994 in sales. 3landers’ NFT sales were followed by Tubby Cats ($35.9M), Invisible Friends ($32M), Mfer ($23.7M), and Bored Ape Yacht Club (BAYC) with $23,688,179 in weekly sales.
Bored Ape #4580 sells for $1.74 million, Google search queries for NFTs drop after January high interest rate
The biggest sell in the past seven days was Bored Ape #4580 for 666 ethers or $1.74 million at time of settlement. Bored Ape #4580 sold on Opensea five hours ago and below that expensive sell was another BAYC NFT. Bored Ape #1837 was sold 13 hours ago for $1.5 million, or roughly 569 ethers.
Dappradar.com’s statistics indicate that Opensea was the top NFT marketplace, in terms of sales last week. Opensea’s sales were followed by the markets Looksrare, Bloctobay, Ronin’s Axie Infinity, and Solana’s Magic Eden.
Over the past seven days, the top five blockchains, by NFT sales volume, included Ethereum, Solana, Ronin, Flow, and Avalanche. Flow’s seven-day Bloctobay stats show that NFT sales increased by 215.66% with $73.78 million in weekly sales.
However, worldwide Google Trends (GT) data shows that interest in NFTs has slid, as far as people searching the term “NFT” on the internet. During the second week of January, the search query NFT tapped a 100, which is the highest trend score a query can get on GT. This week, worldwide GT data shows that the search query NFT has an overall score of 55.
