After a significant spike in February, non-fungible token (NFT) sales over the past seven days are 32.32% lower than last week. Of the 19 different blockchains, Ethereum accounted for $148.56 million of the total $186.20 million in NFT sales settled this week.
NFT sales fall after February surge in digital collectibles purchases
Over the past seven days, NFT sales totaled $186.20 million among 760,857 buyers. Although the number of buyers increased by 55.41% last week, the volume of sales decreased by 32.32% and NFT transactions fell by 91% compared to the previous week. Ethereum dominated the market, capturing $148.56 million or 79.78% of the total. However, sales of ETH-based NFTs are down 37.78% compared to last week. Solana (SOL) NFT sales increased 12.93% this week, reaching $17 million, and Polygon recorded just over $6 million in sales, down 17.34% from the previous week.
The top five NFT collections in terms of sales this week are based on Ethereum. The top selling collection in the last seven days was MG land, with just over $10 million in sales, up 25.49% from last week. The second best selling NFT collection is Momoguro Holoself with $8,848,317 in sales, followed by Sewer passage, which has generated $7,268,598 in sales over the past seven days. NFT collections Bored Ape Yacht Club ($6.2M) and Otherdeed ($5.35M) follow MG Land, Momoguro Holoself and Sewer Pass.
Interestingly, Bitcoin-based NFTs, or Ordinal Inscriptions, have made their way into this week’s market data via Emblem Vault. Data from cryptoslam.io shows this Emblem Vault version four (v4) is a collection with a significant number of inline captions, including Bitcoin Punks and collections created by counterparties such as Rare Pepe blockchain trading cards. Emblem Vault v4 is the eighth biggest collection in sales this week, up 287% from last week to reach $4.25 million. The most expensive NFT sold this week was Sewer Pass #21,915, which sold six days ago for $1.63 million.
In terms of NFT markets, Blur is still the best market this week, conquering 79.7% of market share. NFT market Opensea recorded 14.9% market share in the last week. Thirty-day figures show more than $2 billion worth of NFTs sold, with Blur taking 74.5% of the market share and Opensea getting 22.4%. X2Y2’s market share was around 2.5% and the Looksrare marketplace recorded 0.7% market share last month.
What do you think about this week’s 32% drop in NFT sales compared to the previous week? Share your thoughts on this topic in the comments section below.
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