January 16, 2023

NFT Sales Down around 60% in 2nd Week of 2023

NFT Sales Down around 60% in 2nd Week of 2023 Featured Image

NFTs

The NFT sales over the past week witnessed a significant decrease compared to the week prior, as they dropped by 59.35%, according to Bitcoin News

Over the past seven days, the NFT sales amounted to $208.68 million, $157.20 million of which were from the Ethereum blockchain. Out of the top 20 blockchains, Ethereum had the lion’s share of the NFT sales from January 8 to 13, accounting for more than 75% of the sales. 

While Solana came in second place in terms of NFT sales, accounting for around 18% of the total sales ($37.66 million). Blockchains of Immutable X, Cardano, and BNB followed Solana regarding the total sales over the past week, respectively, Bitcoin News quoted data from CryptoSlam. 

The NFT collections which saw high sales over the past week were the Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Azuki, Art Blocks, Bored Ape Kennel Club, Otherdeed, and Sorare, respectively. The top-selling NFT collection of BAYC recorded $16.69 million in terms of sales, representing 7.998% of the $208 million in sales in the past week. 

BAYC also recorded the highest floor price, reaching 70.4 ETH, followed by the Cryptopunks, whose floor price hit 66.19 ETH. 

The most expensive NFT sold over the past week was Cryptopunk #4,608, which was sold at $329,000. While the second-most selling NFT was Cryptopunk #6,994, which was sold at $283,000, followed by Otherdeed #89,263 and BAYC #7,576, respectively. 

However, the past week saw an increase in sales for some blockchains, topped by Binance Coin (BNB) (62.20%) and Immutable X (8.51%) and for NFT collections also, like Artblocks (62.94%) and MAYC (8.10%). 

In the first week of 2023, the NFT sales grew by 26%, compared to the final week of 2022. 

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