30-Day NFT Sales 88% Lower Than 8 Months Ago, Google Searches Plummeted – Markets & Prices – Bitcoin News

At the end of January 2022, non-fungible token (NFT) sales totaled $4.77 billion and NFT sales have been declining month-over-month ever since. Last month, $549.82 million in NFT sales occurred in September, showing that monthly NFT sales are 88% lower than in January. Also, after the search term “NFT” reached the highest score on Google Trends last January, reaching a score of 100, the last week of September the score was 12, which is also 88% lower on Google Trends. terms of interest.

NFT Trading Volume and Search Query Slide: Sales and Interest Down 88%

Non-Fungible Token (NFT) technology was very popular at the end of 2021 and during the first month of 2022. In fact, in terms of Google Trends (GT) data, worldwide the term “NFT” scored highest in a search query. you can get in the GT database, which is 100.

30-day NFT sales are 88% lower than 8 months ago, Google searches plummeted
Google Trends (GT) search query data for the term “NFT”.

In fact, it was the first time the search term hit this region according to the GT database, but today the score is 88% lower with a score of 12 for the week of September 25-October 1, 2022. Today, China is the most active region according to GT metrics and the country is followed by Hong Kong, Singapore, Nigeria and Taiwan.

Google Trends (GT) search query data for the term “NFT”.

Sales have also declined since January, as records show NFT sales were just above the 500 million mark or roughly $549.82 million. The figure is about 88.49% lower than the $4.77 billion in NFT sales recorded eight months ago.

May was the last month that NFT sales passed the $1 billion mark and $3.18 billion in NFT sales were recorded that month. The following month there was a significant drop to $879 million and in July, NFT sales recorded $682 million. August sales fell after $633 million in NFT sales were recorded that month, and September sales are 13.27% lower.

So far, the first week of October 2022 has seen $105.22 million in NFT sales through 191,175 unique buyers. The 30-day metrics indicate that the top NFT collection in terms of sales was the Bored Ape Yacht Club (BAYC), as the collection recorded $30,964,305 in sales last month.

However, that is 37.49% lower than the sales that BAYC recorded the previous month. Statistics aggregated by cryptoslam.io show that the QQL Mint Pass project has recorded $27.80 million in sales this month and Cryptopunks captured $23.49 million.

30-day NFT sales are 88% lower than 8 months ago, Google searches plummeted
Top five NFT sales over the last 30 days. Three out of five were boring monkeys and two NFTs were from the Otherdeed collection.

Generative art NFT project featuring artwork by Tyler Hobbs and Dandelion Wist Mané is a new collection with no prior market data, but Cryptopunks’ $23.49 million NFT sales are up 12.27% from the 30 past days.

Four specific projects saw triple-digit gains last month compared to last month’s NFT sales data, including Renga, Gods Unchained, Ethereum Name Service (ENS), and NFL All Day, respectively. Over the past month, most of the sales volume was derived from the Ethereum blockchain as it saw $345,633,653 in sales.

30-day NFT sales are 88% lower than 8 months ago, Google searches plummeted
The top ten collections in terms of 30-day sales statistics according to cryptoslam.io.

Ethereum sales were followed by $114.32 million from Solana, $20.61 million from Flow, and $18.95 million from Immutable X NFT sales. While Ethereum-based NFT sales dominated, monthly statistics show that ETH sales fell by 21.26%. The 30-day metrics indicate that Solana-based NFT sales increased by 109.23% and Flow NFT sales increased by 40.58%. Sales of NFTs stemming from the Immutable X network saw a monthly increase of around 125.30%.

Coincidentally, the top five most expensive NFTs sold over the past 30 days come from Yuga Labs’ partner NFT collections such as Bored Ape Yacht Club and Otherdeeds. The most expensive NFT sold in the last 30 days was Bored Ape #8585 for $1.03 million and the second most expensive NFT sold was Bored Ape #441 which sold for $350,991 19 days ago.

Tags in this story

1 month, 30 day stats, 8 months, BAYC, Bored Ape Yacht Club, Bored Apes, cryptopunks, cryptoslam.io, dappradar, ETH, Ethereum, Flow, Immutable X, interest, January sales, NFT sales, volume NFT sales, NFT search queries, NFT, Otherdeed, QQL Mint Pass, search queries, September sales, Solana, statistics, Yuga Labs

What do you think about the fact that monthly NFT sales are down 88% from the sales recorded last January? What do you think about the NFT selling action during the last 30 days? Let us know what you think about this topic in the comments section below.

jamie redman

Jamie Redman is the news lead at Bitcoin.com News and a fintech journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code, and decentralized applications. Since September 2015, Redman has written over 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

image credits: Shutterstock, Pixabay, Wiki Commons, Google Trends, Cryptoslam.io,

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