Non-fungible token (NFT) sales this week were down 10.88% from the previous week. Approximately $118.02 million worth of NFTs were sold this week, compared to $132.43 million last week. Additionally, the top two NFT collections by market capitalization lost significant value over the past seven days; Bored Ape Yacht Club’s market capitalization fell 21.29% while Cryptopunks’ market capitalization fell 19.18%.
NFT Sales and Prices Plunge
NFTs had a lackluster week as sales and prices continued to be in sync with falling crypto asset prices. Statistics show that numerous NFT collections lost considerable market value over the past week. For example, metrics show that on September 13, 2022, Bored Ape Yacht Club (BAYC) had a floor value of; at $114,388, the floor value is currently around$90,026. On September 13, BAYC had a market valuation of $1.14 billion; today it is down 21.29% to $925 million.
The data shows that the second highest NFT floor value on September 13 belonged to Cryptopunks and it is the same today. However, last week Cryptopunks’ lowest price was around $98,941, while today it can be had for $79,960. Cryptopunks’ market capitalization has plunged 19.18% lower in the past week. The same can be said for most of the blue-chip NFT collections, including PROOF Collective, Mutant Ape Yacht Club (MAYC), Castaways, and Doodles.
Seven-day statistics show that the BAYC NFT collection was the top-selling compilation for the week, as $8,603,290 in transactions were recorded.BAYC sales were up 17.33%, and the second largest NFT collection by weekly sales was RENGA; the RENGA NFT collection was able to record sales of $5,822,323 over the seven-day period, up 121.08% from last week. Overall, however, NFT sales across the 17 blockchains monitored bycryptoslam.iowere down 10.88% from last week.
Ethereum (ETH) was the top NFT seller this week, with Solana (SOL) recording the second highest digital collectible sales. However, ETH-based NFT sales were down 1.66% from last week with 7-day sales of $79.05 million; SOL-based NFT sales were down 42.11% from last week with $23.71 million this week; Flow and Immutable X both saw their NFT sales rise. Flow’s NFT sales were up 59.42%, while Immutable X’s NFT sales were up a whopping 790.96%.
The top five most expensive NFTs sold this week all came from the BAYC collection and included Bored Ape #441, Bored Ape #2897, Bored Ape #5733, Bored Ape #4179, Bored Ape # 1846, Bored Ape #441 sold for 351,000 DAI, Bored Ape #2897 sold for 215.38 ether, $296,404, Bored Ape #5733 sold three days ago for 120 ether, $176,458, Bored Ape #4179 sold for 123 ether, $176,307. Finally, the fifth most expensive, Bored Ape #1846, sold four days ago for 106 ether, $151,939.
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