After a significant spike in February, sales of non-fungible tokens (NFTs) in the last seven days are 32.32% lower than last week. Of the 19 different blockchains, Ethereum accounted for $148.56 million out of the total $186.20 million in NFT sales settled this week.
NFT Sales Decline Following February Spike in Digital Collectible Purchases
During the past seven days, NFT sales totaled $186.20 million among 760,857 buyers. Although the number of buyers increased by 55.41% last week, sales volume decreased by 32.32%, and NFT transactions fell 91% compared to the previous week. Ethereum dominated the market, capturing $148.56 million or 79.78% of the total. However, sales of ETH-based NFTs decreased by 37.78% compared to last week. Solana (SOL) NFT sales increased by 12.93% this week, reaching $17 million, and Polygon recorded just over $6 million in sales, a decrease of 17.34% from the previous week.
The top five NFT collections in terms of sales this week are all Ethereum-based. The best-selling collection over the past seven days was MG Land, with just over $10 million in sales, an increase of 25.49% compared to last week. The second best-selling NFT collection is Momoguro Holoself with $8,848,317 in sales, followed by Sewer Pass, which generated $7,268,598 in sales over the last seven days. The NFT collections Bored Ape Yacht Club ($6.2M) and Otherdeed ($5.35M) follow MG Land, Momoguro Holoself, and Sewer Pass.
Top five most expensive NFT sales during the past seven days.
Interestingly, Bitcoin-based NFTs, or Ordinal inscriptions, have made their way into this week’s market data via Emblem Vault. Data from cryptoslam.io shows that Emblem Vault version four (v4) is a collection with a significant number of Ordinal inscriptions, including Bitcoin Punks and Counterparty-crafted collections such as Rare Pepe blockchain trading cards. Emblem Vault v4 is the eighth-largest collection in sales this week, rising 287% compared to last week and reaching $4.25 million. The most expensive NFT sold this week was Sewer Pass #21,915, which sold six days ago for $1.63 million.
In terms of NFT marketplaces, Blur is still the top market this week, capturing 79.7% of the market share. The NFT marketplace Opensea recorded 14.9% of the market share over the last week. Thirty-day metrics indicate that more than $2 billion in NFTs were sold, with Blur capturing 74.5% of the market share and Opensea obtaining 22.4%. X2Y2’s market share was around 2.5%, and the marketplace Looksrare recorded 0.7% market share last month.
Tags in this story
Bitcoin Punks, Blockchain, Blur, Bored Ape Yacht Club, Buyers, Collections, crypto market, Cryptocurrencies, Decentralized, Digital Collectibles, Emblem Vault, ETH-based NFTs, Ethereum, February spike, looksrare, Market Data, Market Share, MG Land, Momoguro Holoself, NFT market trends, NFTs, online marketplaces, Opensea, Ordinal inscriptions, Otherdeed, Polygon, Rare Pepe, sales, Sales Volume, Sewer Pass, Solana, Top 10, Trading Cards, transactions, virtual assets, X2Y2
What do you think about this week’s NFT sales sliding 32% lower than the previous week? Share your thoughts about this subject in the comments section below.
Jamie Redman
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
