The non-functioning token (NFT) markets are starting to feel the pain of the cryptocurrency market carnage of the past week. Over the past seven days, NFT sales are down 42.85% from the previous week. NFT sales on Ethereum suffered the most, as NFT sales on this blockchain system were down 44.83% last week.
The falling crypto economy is starting to affect NFT sales
NFT sales are down this week as seven-day sales figures show that NFT sales in 16 different blockchains are down 42.85% from last week. Ethereum-related sales are down 44.83%, but all eight of the largest blockchain networks for NFT sales are down this week.
Solana sales were down 19.65%, Polygon NFT sales were down 35.63%, Flow sales were down 36.19%, and Avalanche NFT sales were down 29.26%. However, NFT sales at Tezos were up 51.09% over the previous week.
Despite a more than 42% drop in Ethereum-based NFT sales, ETH-based NFT sales totaled $828.7 million, 88.17% of the $939.8 million in seven-day NFT sales. The best-selling NFT collection this past week was the Otherdeed NFT collection, with sales of $189.3 million.
Although Otherdeed sales are down 71.39% in the last seven days. An NFT project called Projectpxn ranks second in weekly sales with $89.6 million. An NFT project called Beanz sold $68.4 million worth of NFT and sales were up 193.53% from last week, according to metrics obtained from cryptoslam.io.
The most expensive NMT sold in the last seven days was Bored Ape Yacht Club (BAYC) 17, which was sold four days ago for 410 ethers or $1.12 million. Bored ape 17 is followed by Otherdeed 33, this NMT was sold for $979K or approximately 333.33 ethers.
an NFT named Ken Hicks sold for 332.52 ether or $849K, and Otherdeed 54 traded hands for $791K or about 50,000 APE five days ago. Otherdeed 66,813 was sold a day ago for $776K or 303 APE, and Otherdeed 26 traded a hand for $733.5K or 249 APE five days ago.
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