NFT

Sales, Buyers, and Transactions All Plunge

Published

1 year ago

September 1, 2024

Non-fungible token (NFT) gross sales have struggled in 2024, and August was no exception. After a 36.6% decline in July, August noticed one other important decline, with gross sales falling 41.36%.

NFT market battle: August gross sales drop 41.36% after July decline

In response to cryptoslam.io statistics, NFT gross sales in August have been roughly $376.30 million, down 41.36% in comparison with July. The variety of NFT patrons fell by 29.04%, whereas sellers noticed a decline of 17.02% over the identical interval. August additionally recorded roughly 7.45 million NFT transactions, which is 50% lower than the earlier month. Of the highest 5 blockchains by NFT gross sales, 4 noticed month-to-month declines, with Mythos Chain being the exception, up 14.31%.

Supply: cryptoslam.io

Ethereum NFTs took the lead, elevating $129 million, though this was 37.53% lower than July’s figures. Solana adopted with $78.94 million, reflecting a decline of roughly 35.54%. Bitcoin NFT gross sales additionally took a success, falling 50.58% to $57.65 million. Polygon took fourth place in August with income of $36.44 million, though this represented a decline of 52.24%. In the meantime, as beforehand talked about, Mythos bucked the pattern with $20.5 million in NFT gross sales and posted a revenue in August.

High 5 blockchains when it comes to NFT gross sales in August.

August’s top-performing NFT assortment was Mythos’ Dmarket, which generated $20.28 million in NFT gross sales – up 17.45% from July. Ethereum’s Cryptopunks adopted with a 139.41% improve, accumulating $18.53 million over the month. Immutable’s Guild of Guardians took third place, recording $14.55 million, up 110%. Sorare secured the fourth spot with $13.32 million in income, whereas Bored Ape Yacht Membership rounded out the highest 5 with $11.47 million in income in August.

READ NFT sales plunge 4.7% to $95.9m, CryptoPunks sales fall 80%

The costliest NFT in August was an Uncategorized Ordinal, which fetched a hefty $2.4 million simply 16 days in the past. Shut behind was Ethereum’s Bored Ape Yacht Membership #2,579, which bought for $342,542 about 17 days in the past. Different notable high-quality NFTs got here from Arbitrum, BNB, and Ronin. With NFT gross sales beneath intense stress this yr, it’s tough to foretell the place this market will probably be within the coming months or by the top of the yr. Gross sales have been downright brutal over the previous two months.