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NFT Sales Dip 59.35% in First Week of 2023 Despite Increase for Some Collections and Blockchains

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NFT Sales Dip
SRC: Forbes India

Are you wondering what’s happening in the world of Non-fungible tokens (NFTs)? Is there an NFT Sales Dip or an NFT Sales Rise as it was at the start of 2023?

NFT Sales Dip 59.35% in First Week of 2023 Despite Increase for Some Collections and Blockchains

Well, the latest statistics show that NFT sales have dropped significantly in contrast to the seven days prior, with a decrease of 59.35%.

But, that’s not the whole story, as some collections and blockchains were able to maintain or even increase their sales. If you’re curious to find out more, keep reading as we dive deeper into the numbers and explore the trends of the NFT market.

NFT Sales Drop 59.35% in the First Week of 2023

The world of non-fungible tokens (NFTs) has seen a significant drop in sales this week, with a decrease of 59.35% compared to the previous seven days. According to data from nftpricefloor.com, during the past week, $208.68 million in NFT sales were recorded, with Ethereum accounting for 75.33% of the sales.

Ethereum and Solana Lead NFT Sales

Ethereum emerged as the top blockchain for NFT sales, with $157.20 million of the total sales stemming from the Ethereum blockchain. Solana followed in second place, with 18.04% of the week’s total sales, or $37.66 million. Other top blockchains in terms of NFT sales this week were Immutable X, Binance Coin (BNB), and Cardano.

Top NFT Collections of the Week

The Bored Ape Yacht Club (BAYC) emerged as the top-selling NFT collection this past week, with $16.69 million in sales, equating to 7.998% of the $208 million in sales this week. Other top collections in terms of total sales included Mutant Ape Yacht Club (MAYC), Azuki, Art Blocks, and Bored Ape Kennel Club.

Expensive NFTs Sold This Week

Statistics from cryptoslam.io show that the most expensive NFT sold this week was Cryptopunk #4,608, which sold for $329,000. The second-most-expensive NFT sold during the past seven days was Cryptopunk #6,994, which sold for $283,000.

Other expensive NFTs sold this week included Otherdeed #89,263 and BAYC #7,576.

Increased Sales for Some NFT Collections and Blockchains

While overall NFT sales saw a decline this week, some collections and blockchains saw an increase in sales. NFT collections that had better sales this week than the previous week includes Artblocks, which saw a 62.94% increase, and Beanz, which rose by 32.82%. In terms of blockchains, Binance Coin (BNB) saw a 62.20% increase in NFT sales, and Flow sales were up 77.99%.

Conclusion

While NFT sales saw a significant drop this week, some collections and blockchains were able to maintain or even increase their sales. This is a reminder that the market of NFTs is still in a state of flux and it’s important to keep an eye on the trends and movements of the market.

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