Statistics show that the number of Non-Fungible Token (NFT) sales in March fell 31.42% from the previous month, from $1.03 billion in February to $882.89 million. The number of NFT buyers and transactions also declined, by 22% to 29%, over the past 30 days.
NFT sales were weak in March, dominated by Ethereum sales at over 60%
Non-fungible tokens (NFT) sales fell 31% in March compared to the previous month as the number of buyers and transactions declined. According to the data, NFT sales reached $1.03 billion in February, while statistics from the last day of March show that sales for the past 30 days reached $882.89 million. Of this amount, $537.89 million was settled on the Ethereum (ETH) blockchain, which accounted for more than 60% of sales in March. Solana-based NFT sales accounted for 10.57% of March’s sales, totaling $93.36 million.
Solana was followed by Polygon ($36.16 million), Immutable X ($28.82 million), and Cardano ($10.08 million) in NFT sales.The best-selling NFT collection in March was Bored Ape Yacht Club ( BAYC), with sales of $35.81 million, which represents a 48.19% decrease from the previous month. The “Cryptopunks” collection was the second-largest NFT collection with $30.11 million in sales, up 87.95% from February.
according to statistics from cryptoslam.io. Bored Ape Yacht Club (BAYC) and Cryptopunks NFT collections followed, followed by Otherdeed ($29.2 million), MG Land ($25.71 million), and HV-MTL ($18.59 million) Among the top 10 NFT collections, Degods’ March sales were up 70.53% over February, slightly less than Cryptopunks’ 87.95% increase over the same month. Other sales increases came from Y00ts, Claynosaurz, and Whiko NFT.
The most expensive NFT sale this month was Azimuth Points #236, which sold for $704,000, followed by Bored Ape Yacht Club (BAYC) #5,116 for $689,000 and Fidenza #971 for $561,000 followed by BAYC #2,062 at $557,000 five days ago and Fidenza #395 sold for $547,000 just a month ago. 30-day statistics show that no NFTs sold for more than $1 million in March. Dappradar.com and Dune According to Analytics, Blur dominated with over 70% of the sales, while Onesa captured 19.9%.
What do you attribute the decline in NFT sales and transactions in March to? Also, do you think this is a temporary setback or a sign of a larger trend? Let us know your thoughts in the comments below.
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