Fourth Consecutive Week of Decline: NFT Sales Dip 6.75% 

Fourth Consecutive Week of Decline: NFT Sales Dip 6.75% 

Non-fungible token (NFT) sales took yet another dip this week, marking the fourth consecutive week of decline, albeit a slight one, with a decrease of 6.75%. From September 2, 2023, to September 9, the total sales for this week amounted to approximately $80.69 million, with a notable chunk of $42.61 million originating from the Ethereum blockchain.

NFT Sales Drop 6.75% in Weekly Decline

NFT sales took a 6.75% dip this week, as reported by data from cryptoslam.io. Over the past seven days, NFT transactions also slid by 4.33%. Despite this decline in sales, the number of NFT buyers surged to 569,407, marking a 17.77% increase compared to the previous week.

Presently, Ethereum leads the pack among 22 different blockchain networks, accounting for $42.61 million in NFT sales, which represents 52.80% of the market share. Following Ethereum, we find Mythos, Polygon, Solana, and Immutable X, completing the top five blockchains in terms of NFT sales.

Although ETH-based NFT sales were at the forefront, they still experienced a 12.11% decrease, while Mythos sales soared by 25.27% compared to the previous week. Polygon witnessed a 7.21% increase in sales, while Solana NFT sales dipped by 5.58% during the same period. Immutable X, on the other hand, faced the steepest decline, with sales dropping by 17.52% from the previous week’s figures.

Among the 22 blockchains, Cronos emerged as the standout performer with a notable 24.22% increase in sales for the week. Mythos’ Dmarket emerged as the undisputed network leader in the NFT realm over the past seven days, clocking in $8.15 million in sales.

Following closely behind, the Bored Ape Yacht Club (BAYC) secured the second spot among the week’s top collections, boasting $5 million in sales. Dmarket and BAYC were shadowed by the likes of Draftkings, Gods Unchained, and the Mutant Ape Yacht Club (MAYC), forming the lineup of the top five NFT collections.

The crown for the most valuable digital collectible sold this week went to Fidenza #562, which commanded a $122,000 price tag. A close contender in the race for the priciest NFT was Cryptopunk #3028, changing hands for a substantial $111K, securing the second spot. Right on its heels, Cryptopunk #3438 earned its place as the third top-selling non-fungible token asset, fetching $105,000.

The fourth position was clinched by Cryptopunk #4233, trading at $102,000, while Cryptopunk #7542 rounded off the top five, sealing the deal at $97,000. It’s worth noting that the Cryptopunk collection’s NFT sales commanded a dominant presence in this week’s top ten sales charts.

What do you think about this week’s NFT sales trend and the prior three weeks as well? Do you see a rebound coming for NFT sales? Let us know your thoughts and opinions about this subject in the comments section below.

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