After non-fungible token (NFT) sales skyrocketed in August, the first week of NFT sales in September was dire. Statistics show the number of sales peaked at 193,693 in mid-August, but plunged 86% to 27,053 on September 10. The metrics of the most widely used marketplaces show that the volume fell significantly after the same fallout in the cryptocurrency market last year, four days ago.
NFT sales and trading volumes are falling
So far, September hasn’t been the best month for NFTs and sales in this space. Last month, the non-fungible token (NFT) markets saw record sales and a number of individual NFTs from the hottest collections that sold for the highest dollar.
According to nonfungible.com market history, 193,693 sales were recorded on August 16, and that number then declined 62% to 73,154 sales on August 22. However, from 73,000 sales they jumped 88% to 138,109 sales on August 30th and since then free fall sales have increased to 27,053 sales on Friday September 10th.
Opensea volumes drop by more than 50%, popular NFT collection volumes drop by 80%
Dappradar.com metrics show that the most popular NFT marketplace, Opensea, has suffered a 52.47% drop in volume over the past seven days. Opensea still had $ 639.6 million in revenue last week but also lost around 6% of NFT dealerships.
Foundation’s volume is down 22% and Rarible’s volume is down 28% in the past seven days. Tezo’s NFT market called Hic et nunc lost 26% and Superrare.co’s volume was down 67% on September 11, 2021. Interestingly, Decentraland’s volume rose 17% over the past week and the wax blockchain’s nuclear market rose 1.44% this week.
NFT collections have also suffered this week, with many of the top NFT collections seeing sizeable sales over the past month. Seven-day statistics from Dappradar show that Axie Infinity’s NFT trading volume fell 0.85% to $ 147 million.
Loot collection NFT volumes (for adventurers) have decreased by more than 80% in the past seven days. The Bored Ape Yacht Club (BAYC) was down 46% in the past week and the volume of cryptopunks was down 61%.
What do you think of the declining sales and trading volumes of non-fungible tokens (NFT) following record sales in August? Let us know what you think on this matter in the comments below.
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