After non-fungible token (NFT) sales soared during the month of August, the first week of September’s NFT sales has been awful. Statistics show the number of sales in mid-August tapped a high of 193,693 sales but plummeted 86% to 27,053 sales on September 10. Metrics from the most used marketplaces show that volume has slid considerably following the same fallout cryptocurrency market have felt during the last four days.
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NFT Sales and Trade Volumes Plummet
So far, September has not been the best month for NFTs and sales in this space. Last month, non-fungible token (NFT) markets saw record sales and a number of individual NFTs from the hottest collections sold for top dollar.
According to nonfungible.com’s market history, on August 16, 193,693 sales were settled and that number subsequently fell 62% to 73,154 sales on August 22. However, from 73K sales spiked 88% to 138,109 sales on August 30 and ever since then, sales have been on a free fall to Friday’s 27,053 sales on September 10.
Opensea Volumes Drop More Than 50%, Popular NFT Collection Volumes Slide 80% Lower
Dappradar.com metrics show that the most popular NFT marketplace, Opensea, has suffered a loss of 52.47% during the last seven days in terms of volume. Opensea still pulled in $639.6 million in sales during the last week but also lost around 6% of NFT traders.
Foundation’s volume is down 22% during the last seven days and Rarible’s volume slid 28%. Tezo’s NFT market called Hic et nunc has lost 26% and Superrare.co’s volume is down 67% on September 11, 2021. Interestingly, Decentraland’s volume jumped by 17% this past week and the Wax blockchain Atomic Market rose by 1.44% this week.
NFT collections have suffered this week as well when last month many of the top NFT collections saw significantly-sized sales. Seven days statistics from Dappradar show Axie Infinity’s NFT trade volumes have decreased by 0.85% to $147 million.
The NFT volumes from the Loot (for Adventurers) collection slid by more than 80% during the last seven days. Bored Ape Yacht Club (BAYC) dropped 46% and Cryptopunks volumes dipped by 61% during the last week.
What do you think about non-fungible token (NFT) sales and trade volumes plummeting after August’s record sales? Let us know what you think about this subject in the comments section below.
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