The non-fungible tokens (NFT) markets are starting to feel the pain from the crypto market carnage over the past week. Over the past seven days, NFT sales are down 42.85% from the previous week. NFT sales on Ethereum were further hit as the blockchain saw a 44.83% loss in NFT sales volume last week.
The downward spiral in the crypto-economy has begun to hamper NFT sales
NFT sales are down this week as seven-day metrics show sales across 16 different blockchains, and NFT sales are down 42.85% less than last week. Sales generated by Ethereum fell by 44.83%, but sales of the top eight blockchain networks by NFT declined this week.
Solana sales are down 19.65%, Polygon NFT sales are down 35.63%, Flow sales are down 36.19%, and Avalanche NFT sales are down 29.26%. With that said, Tezos saw a 51.09% increase in NFT sales over the previous week.
Although Ethereum-based NFT sales fell more than 42%, ETH-based NFT sales saw $828.7 million, which is 88.17% of the $939.8 million in seven-day NFT sales. The best NFT group last week was Otherdeed NFT Group which had sales of $189.3 million.
Although Otherdeed’s sales are down 71.39% over the past seven days. The NFT project called Projectpxn ranks second in terms of weekly sales with $89.6 million. An NFT venture called Beanz has sold $68.4 million in NFTs and sales are 193.53% higher than last week, according to metrics originating from cryptoslam.io.
The most expensive NFT sold over the past seven days was the Bored Ape Yacht Club (BAYC) 17, which sold four days ago for 410 ether, or $1.12 million. Bored Monkey followed 17 Otherdeed 33, and NFT sold for $979,000, or approximately 333.33 Ether.
An NFT called Ken Hicks was sold for 332.52 ether, or $849K, and the Otherdeed 54 exchanged hands for $791,000, or roughly 50,000 monkeys, five days ago. 66813 Otherdeed sold the previous day for $776K or 303 Ether and 26 exchange hands for $733.5K or 249 Ether five days ago.
What do you think about this week’s NFT sales volume dropping 42% less than last week? Tell us what you think about it in the comments section below.
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