Sales of non-fungible tokens (NFTs) are falling a lot. 30-day statistics indicate that NFT sales last month were just above $4.6 billion. However, today’s sales numbers are 65.43% lower at $1.59 Billion. Google Trends data shows that NFTs are in decline. This is the most dramatic drop since the beginning of October 2021.
From $4.6 Billion to $1.5 Billion — NFT Sales Slide More Than 65% Lower Than the Month Before
Non-fungible tokens (NFTs), which have been very popular in the past two years, has become a multi-billion-dollar industry within a relatively brief time. NFTs sales and interest have declined significantly in recent years. The monthly NFT sales numbers show a steady decline during these months.
According to cryptoslam.io’s analytics portal, NFT sales for the past 30 days have fallen 65.43% since December. In the month before, NFT sales totalled $4.6 billion across 17 blockchains. However, NFT sales have dropped to $1.59 Billion in the past 30 days.
NFT sales originating from Ethereum blockchain were most prominent, with $1.31 trillion of the $1.59B in settled transactions. ETH-based NFTs are still down 67.99%, despite the presence of 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 NFTs are falling 60.59%. Cronos lost 76.09% in sales of non-fungible tokens, while Arbitrum NFTs have fallen 66.74% from last month. The top NFT collection last month in terms of overall sales volume was Otherdeed’s $143,562,582 in sales, but that metric is down 82.25% lower than the month prior.
Bored Ape Yacht Club, (BAYC), was second in NFT sales at $119 Million. But BAYC’s overall NFT sales have dropped 62.44% lower than the month before. The only top-five projects with 30-day increases were Azuki NFT Collections and Goblintown NFT Collections.
Azuki’s sales increased 31.56%, while Goblintown sales did not exceed those of the previous month. Mutant Ape yacht club was another top five contender, but sales of $74.5 million are 76.77% less than last 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. GT query metrics show that NFT interest dropped to 23 out of 100 the most recent time it was. This was in October 3, 9 and 10. 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.
Three of the five most costly NFT sales in the last 30 days were from the Otherdeed Collection. Otherdeed #17,164 was sold at 601ether, or $1.14million, Otherdeed #668,813 sold for $33 ether, or $776K and Otherdeed #255,197 sold for $24 ether, or $563K.
Ken Hicks (Token id: 6,908) sold for 332.52ether or $849K. Bored Ape #1725 sold for 250ether or $584K. Clonex, Ken Hicks and other NFTs were among the most popular in the last 30 days. However, 18 of the most valuable NFTs came from Otherdeed or BAYC NFT collections.
Do you agree with the 30 day decline in NFT sales that has been more than 65% compared to the same period last month? Comment below and let us know how you feel about the subject.
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