After a slow week in which non-fungible token sales dropped by 29.35%, sales of NFTs have fallen more than 7% over the past seven days. Solana, out of twelve different NFT-supporting Blockchains, was the sole gainer in NFT sales over the last week.
NFT Sales Slip Lower Following Last Week’s Lackluster Market Action
While the cryptocurrency market has been experiencing extreme volatility over the past two weeks, NFT sales have generally felt the brunt of the storm. Bitcoin.com News published a report on February 16th that sales had fallen by 29.35%. Nine days later, NFTs sales were more than 7 percent lower than the previous week.
Seven-day NFT statistics from this report stem from cryptoslam.io’s and dappradar.com’s recorded metrics. Over the last week, there’s been $546 million in NFT sales volume, which is down 7.71% from last week’s NFT sales. According to metrics, 307,508 NFT purchasers transacted over 1,540,140 transactions.
Ethereum captured a great majority of last week’s NFT sales with $474.8 million, but that’s roughly 3.51% less than the week before. Solana, which saw 3.03% more NFT sales than the other NFT platforms, was the sole increase in NFT transactions among the 12 top NFT platform.
Binance Smart Chain, down 76.68%, Avalanche (54.56%) in weekly NFT sale terms were the biggest losers. According to cryptoslam.io 3landers had $40,828,994 of sales. 3landers’ NFT sales were followed by Tubby Cats ($35.9M), Invisible Friends ($32M), Mfer ($23.7M), and Bored Ape Yacht Club (BAYC) with $23,688,179 in weekly sales.
Bored Ape #4580 Sells for $1.74 million, Google Search Queries for NFTs Fall After January’s High-Interest
Bored Ape #4580 was the most popular sale of the past seven days. It sold for 666 ether ($1.74 million) at settlement. Opensea sold Bored Ape #4580 five hours ago. Below that sale was another BAYC NFT. Bored Ape #1837 sold for $1.5million or 569 ether 13 hours ago
Dappradar.com’s statistics indicate that Opensea was the top NFT marketplace, in terms of sales last week. Opensea’s sales were followed by the markets Looksrare, Bloctobay, Ronin’s Axie Infinity, and Solana’s Magic Eden.
In terms of NFT volumes, Ethereum, Solana Ronin and Flow were the top five Blockchains over the seven-day period. Flow’s Bloctobay seven-day stats indicate NFT sales are up 215.66% with $73.78 million in weekly sales.
However, worldwide Google Trends (GT) data shows that interest in NFTs has slid, as far as people searching the term “NFT” on the internet. NFT received a 100 in the second week, which is the most trend score an query can achieve on GT. Global GT data this week shows NFT has a score of 55.
How do you feel about the weekly decline in NFT sales of more than 7 percent since last week? How do you feel about NFT interest waning from mid-January to this point? Comment below and let us know how you feel about the subject.
Images CreditsShutterstock. Pixabay. Wiki Commons. Bored Ape #4580. Bored Ape #11837.
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