Digital Collectible Downturn — NFT Sales Slid More Than 74% Lower Than the Month Prior


While digital currencies suffered this past month, non-fungible token (NFT) sales dropped by 74.44% during the last 30 days. Data shows that during the last seven days, NFT sales have slipped 17.33% lower than the sales recorded the week prior. NFT floor values for popular collections have rebounded this week in terms of ethereum value, but with ether’s exchange rate so low, blue chip NFTs are selling for a lot less than they did last month.

Data shows NFT sales continue to decline

Coinciding with the crypto bear market, NFT sales and interest have lagged. Google Trends (GT) global data shows that this week the search term “NFT” scored 21 out of 100. The last time the search term “NFT” scored a GT score of 100, c t was the week of January 16-22. 2022. Last month was brutal for NFT sales, with the previous month registering $4.18 billion and 30 days later, $1.07 billion in sales were recorded by metrics.

This past week’s NFT sales across 18 different blockchains saw approximately $184,417,851 in sales, but that’s 17.33% lower than the $223,085,710 recorded the week prior. $151 million of the NFTs sold this past week stemmed from the Ethereum blockchain network but ETH-based NFT sales slipped over 18% this week. Monthly ETH-based NFT sales are down 76.38%.

Solana took the second highest number of sales last week with $22.31 million sold, up 3.56% from the previous week. Binance Smart Chain (BSC) was third in terms of sales with $3.16 million, but BSC-based NFT sales fell 32.45% last week.

Meanwhile, the NFT collection with the highest floor value is Bored Ape Yacht Club (BAYC) as the floor value is currently 90 ETH. 30 days ago, the BAYC floor value was 95.5 ETH, which is relatively the same amount in terms of ether price. However, 95.5 ether was $204K last month and 90 ETH today is worth roughly $97K.

Cryptopunks NFT Collection floor value jumped 40% in the last 24 hours to 66.65 ETH. 30 days ago Cryptopunks low was 51.9 ETH worth $111,000 and the current low of 66.65 ETH is worth $71,000.

The most expensive NFT sale this past month was BAYC 7,537 which sold for 1,024 ETH five days ago. BAYC 7,537 was followed by Otherdeed 90,209 which sold for 235 ETH or $465K. The top 40 most expensive NFTs sold this past month stemmed from only three collections which include BAYC, Cryptopunks, and Otherdeed.

While BAYC 7,537 took the top spot this week as well as the entire month, the second most expensive NFT sell in the last seven days was Cryptopunk 2,964 for 444 ETH or $440,000.


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