NFT Sales Experience 9.91% Decline Over 6 Weeks Despite Increasing Crypto Prices

Sales of non-fungible tokens (NFTs) experienced another decline this week, dropping 9.91% compared to the previous week. Data reveals that approximately $72,767,450 worth of NFT sales were recorded between September 24 and October 1, 2023, covering the most recent seven-day period.

NFT sales continue to decline

Continuing the trend, NFT sales have now fallen for the sixth consecutive week, despite the rise of the crypto economy during the past seven days. The cumulative figure for NFT sales this week amounted to $72.76 million, representing a 9.91% decrease from the previous week. However, the number of NFT buyers increased by 17.77%, reaching a total of 569,407 buyers. Additionally, the number of NFT sellers also saw a 15.82% increase, with a total of 714,889 sellers in the last week.

In terms of NFT sales across different blockchains, Ethereum emerged as the leader among 22 networks, generating $37.27 million in sales. This indicates that a significant 51.22% of the weekly NFT trading activity originated from the Ethereum blockchain. Despite the lead, NFT sales focused on ETH experienced a slight dip, recording a modest 1.16% drop compared to the previous week.

Following closely, Mythos NFT sales secured second place, earning $7.83 million, which represents a 13.12% increase from the previous week. Polygon ranked third in NFT sales this week, accumulating $7.12 million, while Solana claimed fourth place with a respectable $5.86 million. Immutable X ranked fifth, with $5.47 million in sales between September 24 and October 1.

The title of the best-performing NFT collection this week goes to Mythos-based Dmarket, which achieved $7.76 million in sales. Following closely behind, the perennial X-hosted compilation Gods Unchained secured second place, earning a cool $5.22 million. The two leading contenders in the seven-day sales race were followed by Draftkings, Bored Ape Yacht Club (BAYC), and Sorare.

The most notable NFT purchase of the week was BAYC #591, which was valued at $177,710 on the Opensea marketplace just five days ago. On the Bitcoin blockchain, an NFT called Ordinal Maxi Biz fetched $44,217 on the NFT market Magic Eden. The top seller on Solana was Boogle #066, which raised $40,503, followed by BNB's Starcraft Planets, which generated $32,544. Cardano's Earth Node #268 completed the list of top-selling NFTs with a high price of $32,100.