The end of January 2022 saw non-fungible tokens (NFT) sales reach $4.77 trillion. However, the number has been falling month to month. NFT sales last month were $549.82m. This shows that NFT monthly sales have fallen 88% since January. Furthermore, after the search term “NFT” reached the highest score on Google Trends last January, tapping a score of 100, the last week of September’s score was 12, which is also 88% lower in terms of interest.
NFT Trade Volume and Search Queries Slide — Sales and Interest Down 88%
The non-fungible token technology (NFT), was extremely popular in the last month of 2021 as well as the first month 2022. In fact, in terms of Google Trends data (GT), worldwide the term “NFT” scored the highest score a search query can get on the GT database, which is 100.
According to GT data, this was not the first time the term searched for the region. Today, however, the score is 88% lower at 12 points during the week from September 25th through October 1st 2022. According to GT metrics, China currently ranks as the most active country. Hong Kong, Singapore and Nigeria are close behind.
NFT sales have also fallen since January, with records showing that NFT sales were only slightly above $549.82million. It is nearly 88.49% below the NFT sales of $4.77 billion eight months prior.
NFT sales in May were below $1 billion for the final time. In July, NFT sales reached $3.18 trillion. NFT sales in July saw $682million and $879 million respectively. August sales slid lower after $633 million in NFT sales were recorded that month, and September’s sales are 13.27% lower.
Through 191,175 customers, $105.22 million has been sold in NFTs so far for the October 2022 week. According to 30-day metrics, Bored Ape Yacht Club was the most successful NFT collection. Its $30,964,305 sales were the highest in 30 days.
However, that’s 37.49% lower than the sales BAYC recorded the month prior. Cryptoslam.io gathered statistics to show that QQL Mint Pass had $27.80 Million in sales, while Cryptopunks had $23.49 millions.
The generative art NFT project with artwork by Tyler Hobbs and Dandelion Wist Mané is a new collection with no prior market data, but Cryptopunks’ $23.49 million in NFT sales are up 12.27% higher than the 30 days prior.
Four specific projects saw three-digit gains this past month compared to last month’s NFT sales data which include Renga, Gods Unchained, Ethereum Name Service (ENS), and NFL All Day, respectively. The Ethereum blockchain accounted for most of the volume in the last month with sales totalling $345,633,653.
Ethereum’s sales were followed by Solana’s $114.32 million, Flow’s $20.61 million, and the $18.95 million from Immutable X NFT sales. Although Ethereum-based NFTs dominated the market, month-overmonth statistics show that ETH sales have fallen 21.26%. 30 day metrics show Solana-based NFTs are increasing by 109.23%, while Flow NFT sales have increased 40.58%. NFT sales derived from Immutable X networks saw a monthly increase of approximately 125.30%.
Coincidently, the top five most expensive NFTs sold during the last 30 days stem from Yuga Labs’ associated NFT collections like the Bored Ape Yacht Club and Otherdeeds. Bored Ape #8585 was the most valuable NFT that was sold in the last 30 days for $1.03million. Bored Ape #341 was the second-most expensive NFT, which was sold 19 days ago for $350.991.
You think the NFT monthly sales are 88% less than those recorded in January. Do you have any thoughts on the NFT-sales activity in the last 30 day? Comment below and let us know how you feel about the subject.
Credits for the imageShutterstock. Pixabay. Wiki Contents. Google Trends. Cryptoslam.io.
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