NFT sales fell 59% in second week of 2023; Ethereum dominates top 20 blockchains with 75% of sales – Bitcoin News

Sales of non-fungible tokens (NFT) have fallen significantly in contrast to the previous seven days, as NFT sales are down 59.35% this week. Over the past seven days, $208.68 million in NFT sales were recorded, with $157.20 originating from the Ethereum blockchain. The best-selling NFT collection this past week was Bored Ape Yacht Club (BAYC), with $16.69 million in sales, representing 7.998% of $208 million in sales this week.

Ethereum and Solana lead NFT sales among top 20 blockchains among lower digital collectibles sales this week

During the first week of 2023, sales of NFT were up 26% compared to the last week of 2022. However, on Sunday, January 15, 2023, sales were down 59.35% from the previous week. Of the top 20 blockchains issuing NFTs, Ethereum accounted for 75.33% of sales recorded between January 8 and January 15, 2023.

Solana had the second largest position in terms of NFT sales, with 18.04% of the week’s total sales, or $37.66 million. Ethereum and Solana were followed by Immutable X, Binance Coin (BNB) and Cardano as the top five chains in terms of this week’s NFT sales data.

The top five NFT collections this week in terms of total sales include 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.

According to data from nftpricefloor.com, the BAYC collection had the highest floor value in terms of NFT floor values ​​on Sunday, January 15, 2023. BAYC was followed by Cryptopunks, MAYC, Autoglyphs and The Sandbox respectively. While the BAYC floor at the time of writing was 70.408 ETH, the Cryptopunks floor on Sunday was 66.19 ETH.

Last week’s NFT sale saw an influx of trading from the Mineablepunks collection, as the five most expensive NFTs sold were from that collection. This week, statistics from cryptoslam.io show that the most expensive NFT sold was Cryptopunk #4,608, which sold five days ago for $329,000.

The second most expensive NFT sold in the last seven days was Cryptopunk #6,994, which was sold three days ago for $283,000. The two most expensive NFTs sold this week were followed by Otherdeed #89,263 and Bored Ape Yacht Club (BAYC) #7,576.

NFT collections that had better sales this week than last week include Artblocks, which saw a 62.94% increase, Mutant Ape Yacht Club (MAYC) rose 8.10%, Otherdeed sales increased 11.97%, and Beanz has risen by 32.82%.

In terms of blockchains, Binance Coin (BNB) saw a 62.20% increase in NFT sales, Flow sales increased 77.99%, Immutable X jumped 8.51%, Solana rose 3.11%, and Ronin NFT sales increased by 84.75% in the last seven days. Blockchains that have seen a drop in sales since last week include Ethereum, Cardano, Wax, Algorand and Cronos.

What do you think is the reason for the decline in NFT sales this week, and do you think this trend will continue in the coming weeks? Share your thoughts in the comments below.

Jamie Redman

Jamie Redman is the news editor at Bitcoin.com News and a financial technology journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.