NFT Sales Slide for Third Consecutive Week Amid Crypto Downturn

Sales of non-fungible tokens (NFTs) have taken another hit, declining over 10% from the previous week, with transactions totaling $85,046,840 since Saturday, August 26, 2023. This marks the third consecutive week of falling $NFT sales, reflecting the broader crypto economy’s downturn and its significant impact on the $NFT marketplace.

Can NFTs Rally in September? Recent 3-Week Sales Trend Casts Doubt

Cryptoslam.io reports that in the past week, $NFT sales have seen a 10.71% decline, while the volume of $NFT transactions has fallen by 17.15% compared to the previous week. Interestingly, the number of $NFT purchasers surged, showing a 20.35% increase from the week before. Data compiled on September 2, 2023, at 9 a.m. (ET), spanning the last seven days since August 26, reveals that Ethereum-based NFTs dominated the market, raking in $47,876,781. However, it’s worth noting that ETH $NFT sales have decreased by 18.75% this week.

The top six $NFT collectible sales over the past seven days.

Following Ethereum in $NFT sales were Mythos, Solana, Polygon, and Immutable X, completing the top five blockchains. Solana experienced the most significant drop, with sales plummeting by 24.19%. In contrast, Mythos witnessed a 12.85% surge this week. Over the past seven days, Polygon’s sales dipped by 12.14%, while Immutable X led the top five with a 36.46% increase. Bitcoin (BTC) NFTs maintained their seventh spot, registering a 6.43% uptick in sales. Although Arbitrum enjoyed a 57.71% surge this week, it only amassed $667,646 in $NFT sales.

Over the past week, the Mythos collection named Dmarket clinched the top spot in $NFT sales, raking in a whopping $6,485,157. Bored Ape Yacht Club (BAYC) NFTs secured second place with sales totaling $5,451,001, although they’ve seen a 47.59% dip from the previous week. Sorare, with its impressive $3,777,522 in sales, claimed the fourth position, while Mutant Ape Yacht Club (MAYC) garnered $2,936,718. Sorare’s sales surged by 13.09% this week, whereas MAYC experienced a 6.16% decline.

In the high-stakes world of NFTs this week, Mega Zombie stole the show with a sale price of $809K. The second largest was BAYC #7485 for $172K. Following closely was an $NFT property titled “332 Montclaire Ln, West Columbia, SC 29170,” fetching $204K. Cryptopunk #1123 clinched the fourth spot with a sale just above $165K, while Cryptopunk #1603 secured the fifth position at $143K.

Rounding out the top sales, the $NFT named “RBX Vesting Voucher #15” went for $136K clinching the sixth position. Though September typically sees a resurgence in the broader crypto realm, it remains to be seen if NFTs can bounce back from the recent slump in sales.