The past week’s non-fungible token (NFT) sales have dropped again, following the last few weeks of diminishing volumes. Across 14 blockchains that support NFTs, sales have slipped 29.46% lower than the week prior. Despite the drop in NFT sales volume, NFT sales stemming from the Arbitrum network spiked by 97.53% this week.
NFT Interest and Dive Selling
According to data from Google Trends (GT), interest in NFTs has skyrocketed as the search query for the term “NFT” slipped from a score of 100 on GT in the first month of 2022, to a score of of 42 this week.
Statistics for the search query term “metaverse” show interest there has also slid significantly, sliding from January’s high score of 88 to today’s GT score of 32. While NFT interest is sliding, sales volume has dipped a great deal as well.
Over the past seven days, NFT sales have fallen 29.46% from last week’s sales volume. Measurements from cryptoslam.io’s seven-day records show that the largest blockchain by NFT sales, Ethereum, is down 32.13%.
Wax blockchain sales have dropped by 38.52% this past week, but Palm and Theta NFT sales lost the most. Palm-based NFT sales are down 73.36% since last week and Theta’s NFT sales are down 78.87%.
Bitcoin.com News reported that the Arbitrum NFT Treasure DAO project was hacked and lost over 100 NFTs. Despite the hack, Arbitrum NFT sales increased a lot this week, reaching 97.53% from the previous week.
The NFT collection that recorded the most NFT sales during the last seven days is Invisible Friends as the ETH-based NFTs have seen $46.9 million in sales, up 32.13% since the week prior. The Invisible Friends NFT compilation sales were followed by Wonderpals, Cryptopunks, Clonex, and Bored Ape Yacht Club (BAYC).
The most expensive NFT sale this week was Meebit #1657 for 282 wrapped ethers (WETH) or $844,069, followed by Ringers #376 for $800,941 in WETH. These two expensive NFT sales were followed by Meebit #8475 ($753,000), Meebit #18277 ($738,000), Meebit #19564 ($723,000), and Bored Ape #8386 for $600,609, or 200 Ethereum wrapped.
Additionally, the “Topps Timeless Series” 1952 Mickey Mantle NFT card sold for 175 ether or $471K at the time of settlement on Opensea. The leading NFT marketplace Opensea posted the week’s top sales in terms of NFT sales volume, but sales are down 29.97% according to current dappradar.com stats. Opensea saw 220,223 NFT traders this week, but the number of traders is down 12.96% since the week before.
