Sales of non-fungible tokens (NFTs) this week were down 10.88% from the previous week. This week, NFTs worth approximately $ 118.02 million were sold compared to $ 132.43 million last week. Additionally, the top two NFT collections with the largest market caps have lost significant value over the past seven days. While Bored Ape Yacht Club’s market valuation lost 21.29%, Cryptopunks’ market capitalization fell 19.18%.
NFT sales and prices plummeting
NFTs had a lackluster week as sales and prices followed one another in sync with falling cryptocurrency prices. Statistics show that a large number of NFT collections have lost considerable market value over the past week. For example, the metrics show that the floor value of the Bored Ape Yacht Club (BAYC) on September 13, 2022 was $ 114,388 and today the floor value is approximately $ 90,026. BAYC’s market valuation on September 13 was $ 1.14 billion and today it is down 21.29% to $ 900.25 million.
The data shows that the second most expensive NFT bottom value belonged to Cryptopunks on September 13, and it still is today. However, last week’s cheapest Cryptopunk was around $ 98,941, but today you can get one for $ 79,960. Cryptopunks’ market cap fell 19.18% over the past week. The same can be said for most blue chip NFT collections like PROOF Collective, Mutant Ape Yacht Club (MAYC), Castaways, and Doodles.
The seven-day stats show that the BAYC NFT collection is the best-selling collection this week, as there were $ 8,603,290 in trades. BAYC’s sales increased 17.33% and the second largest NFT collection in terms of weekly sales is RENGA. The RENGA NFT collection managed to print $ 5,822,323 in seven days of sale, up 121.08% from last week. Overall, however, NFT sales on 17 blockchains tracked by cryptoslam.io fell by 10.88% from last week.
Ethereum (ETH) captured the best NFT sales, and Solana (SOL) recorded the second highest number of digital collectibles sales this week. However, ETH-based NFT sales were down 1.66% from last week with $ 79.05 million in sales in seven days. Sales of SOL-based NFTs fell 42.11% lower this week than last week at $ 23.71 million. Both Flow and Immutable X have seen an increase in NFT sales. Flow NFT sales increased by 59.42% and Immutable X NFT sales increased significantly by 790.96%.
The top five most expensive NFTs sold this week all come from the BAYC collection and include Bored Ape # 441, Bored Ape # 2897, Bored Ape # 5733, Bored Ape # 4179 and Bored Ape # 1846. Bored Ape n. 441 sold for 351,000 DAI and Bored Ape n. 2897 sold for 215.38 ether or $ 296,404. Bored Ape # 5733 sold three days ago for 120 ether or $ 176,458 and Bored Ape # 4179 sold for 123 ether or $ 176,307. Finally, the fifth most expensive, Bored Ape # 1846, sold for 106 ether or $ 151,939 four days ago.
What do you think of this week’s NFT sales down more than 10% from last week’s sales? Let us know what you think about this topic in the comments section below.
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