According to statistics, the number of non-fungible token (NFT) sales in March was 31.42% lower than the previous month, going from $1.03 billion in sales in February to $882.89 million. The number of NFT buyers and transactions also decreased, between 22% and 29%, in the last 30 days.
March NFT sales are slow, Ethereum sales dominate by more than 60%
In March, non-fungible token (NFT) sales fell 31% compared to the previous month as the number of buyers and transactions decreased. The data shows that in February, NFT sales reached $1.03 billion, but the statistics for the last day of March indicate that sales in the last 30 days amounted to $882.89 million. Of these sales, $537.89 million were settled in Ethereum (ETH) blockchain, which dominated March sales with more than 60%. Solana-based NFT’s sales accounted for 10.57% of March sales, with $93.36 million recorded.
In terms of NFT sales, Solana was followed by Polygon ($36.16 million), Immutable X ($28.82 million), and Cardano ($10.08 million). The best-selling NFT collection in March was Bored Ape Yacht Club (BAYC), which generated $35.81 million in sales, although this number represented a 48.19% decrease from the previous month. Cryptopunks was the second largest NFT collection in terms of sales at $30.11 million, an increase of 87.95% compared to February.
According to statistics of cryptoslam.io, the Bored Ape Yacht Club (BAYC) and Cryptopunks NFT collections were followed by Otherdeed ($29.20 million), MG Land ($25.71 million) and HV-MTL ($18.59 million). Among the top 10 NFT collections, Degods saw a 70.53% increase in sales in March compared to February, just below the 87.95% increase Cryptopunks experienced over the same period. Other notable collections that saw sales increases this month include Y00ts, Claynosaurz, and Whiko NFT.
The most expensive NFT sales this month were Azimuth Points #236, which sold for $704,000, followed by Bored Ape Yacht Club (BAYC) #5,116, which sold for $689,000, and Fidenza #971, which sold for $561,000. BAYC #2,062 sold for $557,000 five days ago, while Fidenza #395 sold for $547,000 just over a month ago. According to 30-day statistics, no NFTs worth more than $1 million were sold in March. According to Dappradar.com and Dune Analytics, Blur dominated sales with over 70%, while Opensea captured 19.9%.
What do you think caused the decline in NFT sales and transactions in March, and do you think this is a temporary setback or a sign of a larger trend? Let us know your thoughts in the comments below.
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