May 23, 2023

Top Selling NFT Collection See Significant Drop in Floor Prices

BAYC NFTs

BAYC NFTs

Influencers and industry observers ‘Hashbastards NFTs’ said the NFT market currently witnesses a downward trend despite the positive performance of the crypto industry throughout this year.

Hashbastards NFTs focused on the declining prices of several NFT collections, including top collections. According to data, aggregated from Cryptoslam, the volume of NFT sales saw a decline of 84% from April 2022 to April 2023, according to Bitcoin World Website.

The Doodles NFT collection by Burnt Toast saw a significant drop in its floor price, recording 90% from 23 ETH to a mere 2.3 ETH. Its current price on OpenSea records 2.29 ETH.

Also, the floor price of Moonbirds NFT collection, created by artist and PROOF co-founder Justin Mezzell, plummeted by around 94%, reaching 2.1 ETH from 32 ETH. Goblintown NFTs’ floor price decreased from 6 ETH to 0.279 ETH. All these digital collectibles experienced a drop in sales volume as well, reflecting the dwindling demand among NFT fans.

Moreover, Invisible Friends, a collection of 5000 animated invisible characters by Markus Magnusson, experienced an 85% decline in its floor price, dropping from 8 ETH to 1.15 ETH as well as its sales volume which went down from $68 million during its February 2022 launch, has plummeted to a mere $847,266 in April 2023.

However, HashBastards NFTs pointed out that NFT collections such as the Bored Ape Yacht Club continues to be a top-selling NFT collection with $43 million in volume over the past 30 days, according to Cryptoslam, a matter which shows that some collections have resilience amid this challenging market climate

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