NFT Sales Dip by 32% in the Last Week, Ordinals Squeeze Into Top 10 Collections via Emblem Vault
After a significant spike in February, sales of non-fungible tokens (NFTs) in the last seven days are 32.32% lower than last week. Of the 19 different blockchains, Ethereum accounted for $148.56 million out of the total $186.20 million in NFT sales settled this week. NFT Sales Decline Following February Spike in Digital Collectible Purchases
During the past seven days, NFT sales totaled $186.20 million among 760,857 buyers. Although the number of buyers increased by 55.41% last week, sales volume decreased by 32.32%, and NFT transactions fell 91% compared to the previous week. Ethereum dominated the market, capturing $148.56 million or 79.78% of the total. However, sales of ETH-based NFTs decreased by 37.78% compared to last week. Solana (SOL) NFT sales increased by 12.93% this week, reaching $17 million, and Polygon recorded just over $6 million in sales, a decrease of 17.34% from the previous week.
The top five NFT collections in terms of sales this week are all Ethereum-based. The best-selling collection over the past seven days was MG Land, with just over $10 million in sales, an increase of 25.49% compared to last week. The second best-selling NFT collection is Momoguro Holoself with $8,848,317 in sales, followed by Sewer Pass, which generated $7,268,598 in sales over the last seven days. The NFT collections Bored Ape Yacht Club ($6.2M) and Otherdeed ($5.35M) follow MG Land, Momoguro Holoself, and Sewer Pass. Top five most expensive NFT sales during the past seven days.
Interestingly, Bitcoin-based NFTs, or Ordinal inscriptions, have made their way into this week’s market data via Emblem Vault. Data from cryptoslam.io shows that Emblem Vault version four (v4) is a collection with a significant number of Ordinal inscriptions, including Bitcoin Punks and Counterparty-crafted collections such as Rare Pepe blockchain trading cards. Emblem Vault v4 is the eighth-largest collection in sales this week, rising 287% compared to last week and reaching $4.25 million. The most expensive NFT sold this week was Sewer Pass #21,915, which sold six days ago for $1.63 million.
In terms of NFT marketplaces, Blur is still the top market this week, capturing 79.7% of the market share. The NFT marketplace Opensea recorded 14.9% of the market share over the last week. Thirty-day metrics indicate that more than $2 billion in NFTs were sold, with Blur capturing 74.5% of the market share and Opensea obtaining 22.4%. X2Y2’s market share was around 2.5%, and the marketplace Looksrare recorded 0.7% market share last month. Tags in this story Bitcoin Punks, Blockchain, Blur, Bored Ape Yacht Club, Buyers, Collections, crypto market, Cryptocurrencies, Decentralized, Digital Collectibles, Emblem Vault, ETH-based NFTs, Ethereum, February spike, looksrare, Market Data, Market Share, MG Land, Momoguro Holoself, NFT market trends, NFTs, online marketplaces, Opensea, Ordinal inscriptions, Otherdeed, Polygon, Rare Pepe, sales, Sales Volume, Sewer Pass, Solana, Top 10, Trading Cards, transactions, virtual assets, X2Y2
What do you think about this week’s NFT sales sliding 32% lower than the previous week? Share your thoughts about this subject in the comments section below. Jamie Redman
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Commodity Strategist Mike McGlone Predicts a Recession as Top Catalyst for Gold"s Rise Above $2,000 MARKETS AND PRICES | Feb 24, 2023 NFT Sales Soar 138% in Past Week, Blur Market Dominates This Week"s ETH-Based NFT Sales MARKETS AND PRICES | Feb 24, 2023
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