NFT Sales Drop for Second Consecutive Month After Record-Breaking Start to 2023

Sales of non-fungible tokens (NFTs) have declined by 5.76% over the past 30 days, according to the latest NFT sales statistics. The data reveals that the sales figure stood at $732.13 million in April, which is $44.75 million lower than the $776.88 million recorded in March.

NFT Sales Decline by 5.76% in April, Ethereum Dominates, Bored Ape Yacht Club Leads in Collections

NFT sales surpassed $1 billion in both January and February 2023; however, sales figures declined in March and April. According to cryptoslam.io’s latest NFT sales data for April, the sales stood at $732.13 million, which is 5.76% lower than the previous month.

Out of this amount, Ethereum-based NFT sales dominated the market, accounting for $485 million in trades. However, Ethereum NFT sales declined by 19% in April compared to March figures.

Meanwhile, Solana-based NFT sales recorded $88.16 million, down 6.78% from last month. The top five blockchains with the most NFT sales in April, following Ethereum and Solana, were Polygon, Immutable X, and BNB Chain, as per the latest data.

During the month of April, Polygon witnessed a surge in sales by 22.75%. Meanwhile, Arbitrum, the sixth-largest blockchain in terms of NFT sales, saw sales spike by 78.35%, amounting to $10.29 million. In terms of NFT collections, Bored Ape Yacht Club (BAYC) emerged as the leader with $45.10 million in sales.

Azuki NFTs secured the second spot with $21.91 million in sales over the past month. Nakamigos, Mutant Ape Yacht Club, and Mad Lads followed BAYC and Azuki in terms of NFT sales. Sandbox’s Land #21,221 emerged as the top-selling NFT in the past month, with a sale price of $1.256 million, approximately 20 days ago.

The second most expensive NFT sale in April was Maverick Position #386, which fetched $1.05 million, 16 days ago. Azuki #3,628 secured the third spot on the list, selling for $626K, 18 days ago, followed by Azuki #5172, which was acquired for $458K. The fifth most expensive NFT sale in April was CryptoPunk #3,990, which sold for $444K, 24 days ago.

As of Sunday, April 30, 2023, nftpricefloor.com reports that the collection with the highest floor value is Cryptopunks, currently standing at around 49.99 ether. Just below Cryptopunks is Bored Ape Yacht Club (BAYC), with a floor of around 48.69 ether. The floor values of the top collections following Cryptopunks and BAYC include Mutant Ape Yacht Club, Azuki, and Otherdeed.

What do you think the future holds for the NFT market, and how do you think the decline in sales figures in March and April will impact the industry going forward? Share your thoughts about this subject in the comments section below.