Non-fungible tokens (NFT) sales this week fell 10.88% lower than the previous week. About $118.02 million worth of NFTs were sold this week compared to last week’s $132.43 million. Further, the top two NFT pools with the largest market capitalizations have shed significant value over the past seven days. While Bored Ape Yacht Club’s market valuation lost 21.29%, Cryptopunks’ market cap slipped 19.18%.
NFT Sales and Prices Nosedive
NFTs had a lackluster week as sales and prices followed in sync with falling prices of crypto assets. Statistics show that a large number of NFT collections have lost considerable market value over the past week. For example, metrics show that Bored Ape Yacht Club (BAYC) floor value on September 13, 2022 was $114,388 and today, the floor value is around $90,026. BAYC’s market valuation on September 13 was $1.14 billion and today it is down 21.29% to $900.25 million.
Data shows that the second most expensive NFT floor value belonged to Cryptopunks on September 13th, and that is still the case today. However, the cheapest Cryptopunk last week was around $98,941, but today you can get one for $79,960. Cryptopunks market cap is down 19.18% over the past week. The same can be said for the majority of blueberry NFT collections such as PROOF Collective, Mutant Ape Yacht Club (MAYC), Castaways and Doodles.
Seven-day statistics show that the BAYC NFT collection is the compilation with the best sales of this week, as 8,603,290 USD in trades were recorded. BAYC sales increased by 17.33% and the second largest NFT collection by weekly sales is RENGA. The RENGA NFT collection managed to print $5,822,323 in seven-day sales, up 121.08% from last week. Overall, however, NFT sales across 17 blockchains monitored by cryptoslam.io are down 10.88% lower than last week.
Ethereum (ETH) captured the best NFT sales and Solana (SOL) recorded the second largest number of digital collectible sales this week. Although, ETH-based NFT sales slipped 1.66% less than last week with $79.05 million in seven-day sales. SOL-based NFT sales are down this week 42.11% lower than last week with $23.71 million. Both Flow and Immutable X saw an increase in NFT sales. Current NFT sales jumped 59.42% higher, and Immutable X NFT sales saw a significant 790.96% increase.
The 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 #441 sold for 351,000 DAI and Bored Ape #2897 sold for 215.38 ether or $296,404 USD. Bored Ape #5733 was sold three days ago for 120 ether or $176,458, and Bored Ape #4179 sold for 123 ether or $176,307. Lastly, the fifth most expensive, Bored Ape #1846, was sold for 106 ether or $151,939 four days ago.
What do you think about NFT sales this week less than 10% less than last week’s sales? Let us know what you think about this topic in the comments section below.
Image Credits: Shutterstock, Pixabay, WikiCommons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use or reliance on any content, goods or services mentioned in this article.