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Sales of non-fungible tokens (NFTs) experienced a 31.26% decline in April from the revenues recorded in March. Last month, statistics show that $NFT transactions across several markets totaled approximately $1.15 billion in sales.
$NFT Revenues Shrink in April, Certain Bitcoin Collections Buck the Trend
As April concluded and May commenced, data reveals that $NFT sales for the previous month reached about $1.15 billion, reflecting a 31.26% decrease from March. The number of $NFT purchasers also fell by 51.88%, while sellers saw a 45.72% reduction in the same period.
Among the 24 blockchains that mint NFTs, Bitcoin emerged as the leader last month, generating $597.62 million in sales. Nonetheless, sales of BTC-based NFTs in April were 4.3% below those in March.
Ethereum NFTs experienced a significant drop in sales, plunging to $247.32 million, a 56.8% decrease over the past month. Solana, the third largest blockchain by monthly sales, also saw a decline, with SOL-based $NFT sales falling 39.4% to just over $159 million.
Polygon and Mythos Chain reported sales of $54.13 million and $28.68 million, respectively, marking losses ranging from 4.19% to 7.46%. Despite overall declines across the top five chains, Immutable X and Avalanche recorded upticks in $NFT sales in April.
According to metrics from cryptoslam.io, April’s most lucrative collection was Bitcoin’s Uncategorized Ordinals, which garnered $314.82 million in total sales, marking an increase of 16.91% since last month. The Bitcoin Puppets collection followed, amassing $72.47 million in April, up a substantial 2,064.97% from March.
Additionally, the Bitcoin-based WZRDs collection saw an exponential rise of 25,796%, totaling about $36.47 million in 30-day sales. Nodemonkes rounded out the top five, despite a 54.38% drop from March, with $32.70 million in sales.
Ethereum boasted the most expensive $NFT sale this month with Cryptopunk #635 fetching $12.4 million. BNB Chain’s Lock Deal $NFT sold for $651,963, and Bitcoin Ape #2,301 commanded a price of $459,437. Solana’s Boogle #037 went for $296,113, while Flow’s Flovatar sold for $210,495.
What do you think about the $NFT sales recorded in April 2024? Do you expect $NFT sales to pick up again this summer? Share your thoughts and opinions about this subject in the comments section below.