The past week’s non-fungible token (NFT) sales have dropped again, following the last few weeks of diminishing volumes. Sales across 14 blockchains supporting NFTs have fallen 29.46% compared to the previous week. NFT volume dropped by 29.46%, but sales from Arbitrum network soared by 97.53%.
NFT Sales and Interest
According to Google Trends (GT) data, interest in NFTs has dive-bombed, as the search query for the term “NFT” slid from a score of 100 on GT during the first month of 2022, to this week’s score of 42.
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. Sales volume is also down, even though NFT interest has been declining.
Over the last seven days, NFT sales have dropped 29.46% lower than last week’s sales volume. Metrics from cryptoslam.io’s seven-day records show that the largest blockchain in terms of NFT sales, Ethereum, is down 32.13%.
The Wax blockchain’s sales dropped 38.52% last week. However, Palm and Theta NFT sales suffered the greatest losses. Palm-based NFT sales are down 73.36% since last week and Theta’s NFT sales are down 78.87%.
Bitcoin.com News published a report about the hacking of Treasure DAO’s Arbitrum NFT Project and losing over 100 NFTs. Arbitrum NFT sales have increased by 97.53% this week, despite the hack.
Invisible Friends was the NFT collection with the highest number of sales in the past seven days. The ETH-based NFTs saw $46.9million in sales this week, an increase of 32.13% from the previous week. Wonderpals and Cryptopunks followed Invisible Friends’ NFT compilation sales, as did Clonex, Clonex, Clonex, Bored Ape Yacht club (BAYC).
This week’s most expensive NFT sale was Meebit #1657 for 282 wrapped ether (WETH) or $844,069, followed by Ringers #376 for $800,941 in WETH. These two NFT-sale prices were followed by Meebit #8475 (753K), Meebit #28277 (738K), Meebit #19564 (723K) and Bored Ape #8386 ($600,609 or 200 wrapped in ethereum.
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 had 220,223 NFT trader this week. However, the total number of traders has fallen 12.96% from the previous week.
What do you think about this week’s NFT sales and the interest over time stats from GT? Please comment below to let us know your thoughts on this topic.
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