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Non-fungible token (NFT) sales have actually dropped substantially in contrast to the 7 days prior, as NFT sales are down 59.35% today. During the previous 7 days, $208.68 million in NFT sales were tape-recorded, with $157.20 originating from the Ethereum blockchain. The top-selling NFT collection this previous week was the Bored Ape Yacht Club (BAYC), with $16.69 million in sales, relating to 7.998% of the $208 million in sales today.(*20*)

Ethereum and Solana Lead NFT Sales Among Top 20 Blockchains Amid Lower Digital Collectible Sales This Week

During the very first week of 2023, NFT sales were up 26% compared to the last week of 2022. However, on Sunday, Jan. 15, 2023, sales were down 59.35% from the previous week. Of the top 20 blockchains that release NFTs, Ethereum represented 75.33% of the sales tape-recorded in between Jan. 8 and Jan. 15, 2023.

Solana held the second-largest position in terms of NFT sales, with 18.04% of the week’s overall sales, or $37.66 million. Ethereum and Solana were followed by Immutable X, Binance Coin (BNB), and Cardano as the top 5 chains in terms of today’s NFT sales information.

The top 5 NFT collections today in terms of overall sales consist of the Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Azuki, Art Blocks, and Bored Ape Kennel Club. These are followed by Otherdeed, Sorare, The Captainz, Beanz, and Mutant Hound Collars.

NFT Sales Drop 59% in Second Week of 2023; Ethereum Dominates Top 20 Blockchains with 75% of Sales

According to information from nftpricefloor.com, the BAYC collection had the greatest flooring worth in terms of NFT flooring worths on Sunday, Jan. 15, 2023. BAYC was followed by Cryptopunks, MAYC, Autoglyphs, and The Sandbox, respectively. While the BAYC flooring worth at the time of writing was 70.408 ETH, the Cryptopunks flooring worth on Sunday was 66.19 ETH.

NFT Sales Drop 59% in Second Week of 2023; Ethereum Dominates Top 20 Blockchains with 75% of Sales

Last week’s NFT sales saw an increase of trading from the Mineablepunks collection, as the top 5 most costly NFTs offered were from that collection. This week, data from cryptoslam.io program that the most costly NFT offered was Cryptopunk #4,608, which offered 5 days ago for $329,000.

The second-most-expensive NFT offered throughout the previous 7 days was Cryptopunk #6,994, which offered 3 days ago for $283,000. The top 2 most costly NFTs offered today were followed by Otherdeed #89,263 and Bored Ape Yacht Club (BAYC) #7,576.

NFT collections that had much better sales today than the previous week consist of Artblocks, which saw a 62.94% boost, Mutant Ape Yacht Club (MAYC) increased 8.10%, Otherdeed sales increased by 11.97%, and Beanz has actually increased by 32.82%.

In terms of blockchains, Binance Coin (BNB) saw a 62.20% boost in NFT sales, Flow sales were up 77.99%, Immutable X leapt 8.51%, Solana increased 3.11%, and Ronin NFT sales increased by 84.75% over the previous 7 days. Blockchains that saw sales decrease because recently consist of Ethereum, Cardano, Wax, Algorand, and Cronos.

What do you believe is triggering the decrease in NFT sales today, and do you believe this pattern will continue in the coming weeks? Share your ideas in the comments below.(*20*)

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