In the past week, the non-fungible token (NFT) market took a slight hit, with sales totaling $145 million, down by over 9% from the previous week. This decline is part of a consistent trend of decreasing sales in recent weeks, with four of the top five blockchains experiencing drops in sales volume during this period.
According to data from CryptoSlam as reported by crypto.news, digital collectibles sales decreased by more than 11% last week and fell further by 9.68% this week, reaching a total of $145.01 million.
Bitcoin (BTC) maintained its lead in NFT sales, surpassing Ethereum (ETH) and Solana (SOL) once again. The Bitcoin network had the highest NFT sales volume among blockchains, bringing in around $44.1 million, despite an 11% drop from the previous week.
Ethereum followed with $38.4 million in sales, including about $34.2 million in wash trading. Combining actual and wash trading numbers on Ethereum would position it as the highest in NFT sales volume for the week at over $72 million.
Blast, a newcomer to the top rankings, secured the third spot with $15.943 million in sales, marking an 8.48% decrease. Solana came in fourth with $14.26 million, experiencing a significant 44.73% drop in sales.
Polygon (MATIC) reversed the trend with $12.14 million in sales, showing a 20.37% increase from the previous week.
Uncategorized Ordinals emerged as the top NFT collection in terms of sales volume, generating $16.4 million despite a 26.73% weekly decrease. Other noteworthy collections included Blast’s Fantasy Top, Mythos’ Dmarket, Bitcoin’s Nodemonkes, and Immutable-Zk’s Guild of Guardians.
In a notable sale, CryptoPunk #741 fetched $792,046, making it the most expensive NFT sold during the week. There was also a surge in buyers and sellers, with the number of NFT buyers increasing by over 166% and sellers by 139%. However, the total number of NFT transactions decreased by 27.58% from the previous week.
On a different note, Italian fashion house Dolce & Gabbana and digital assets platform UNXD are facing a class-action lawsuit due to alleged delays in delivering NFT products, resulting in a 97% drop in their digital assets’ value.
