NFTs
NFT Sales Could Post Worst Performance Since October
Global non-fungible token (NFT) sales totaled $604 million in May, the lowest monthly performance since last October and the first month this year with sales below $1 billion.
Ethereum, the world’s leading blockchain in NFT sales with a historical sales volume of over $43 billion, had $164 million in sales last month, the lowest since September.
The chain must look even further back in time to match its most recent number of unique buyers.
Last month, Ethereum had 56,914 unique buyers, according to data from CryptoSlam, the blockchain’s lowest NFT buyer count since June 2021.
The drop in NFT sales was also apparent on the Bitcoin network, which saw $160 million in monthly sales, the lowest since October. There was a decline in both buyers and sellers, recording the lowest count this year.
While the drop in sales was evident across most major blockchains, Solana bucked the trend in terms of activity.
Solana had monthly sales of $93 million, the first time the blockchain has seen less than $100 million since last November.
Solana set new records for monthly unique buyers and sellers, with 346,229 and 594,555 addresses, respectively.
However, the network’s average NFT price is falling. Its average monthly sales value of $37.8 is the lowest this year.