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 drop more than 65% from previous month
Over the past couple of years, non-fungible tokens (NFTs) have become hugely popular and a billion-dollar industry in a relatively short period of time. However, lately, NFT interest and sales have been drastically reduced, and monthly NFT sales metrics show a gradual decline over 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 from the Ethereum blockchain were the most dominant, capturing $1.31 billion 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 are down 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 this metric is down 82.25% from the previous month.
Bored Ape Yacht Club (BAYC) was the second largest collection in terms of NFT sales with $119 million recorded. But BAYC’s overall NFT sales have dropped 62.44% lower than the month before. Out of the top five, the Azuki and Goblintown NFT collections were the only projects that saw 30-day gains.
Goblintown sales were flat in the previous month, and Azuki sales increased by 31.56%. Mutant Ape Yacht Club was also in the top five, but sales of $74.5 million are down 76.77% from the previous month.
Otherdeed, Bored Apes Dominate Last Month’s Most Expensive NFT Sales — Google Trends Data Shows NFT Interest at Lowest Point Since October 2021
Google Trends (GT) data worldwide indicates that this week the search term “NFT” has slid to its lowest point since the first week of October 2021. Weekly statistics for the week of May 29 through June 4 show the search term “NFT” has dropped down to a score of 23 out of 100. The last time NFT interest was this low, at least according to GT query metrics, was during the week of October 3 through October 9. The search term “NFT” tapped a high score of 100 during the week of January 16 through January 22, 2022, but search interest has been dropping lower ever since that day.
Of the five most expensive NFT sales in the last 30 days, three of the sales were from the Otherdeed collection. Sales include Otherdeed #17,164 which sold for 601 ethers or $1.14 million, Otherdeed #66,813 which sold for 303 ethers or $776,000, and Otherdeed #55,197 which sold for 214 ethers or $563,000.
Other NFTs included in the most expensive NFT sales during the last month include Ken Hicks (Token ID: 6,908) that sold for 332.52 ether or $849K, and Bored Ape #1,725 which sold for 250 ether or $584K. Out of the top-20 most expensive NFTs sold in 30 days, other collections include Clonex and Ken Hicks, but 18 of the 20 most expensive NFTs sold come from the Otherdeed and BAYC NFT compilations.
