Even when the crypto market was plummeting, NFT sales did not plunge. NFT sales were higher than ever before, while the rest of the crypto space was in a state of panic. Well, that pace seems to have slowed down as NFT sales have started to dip in the last week by nearly 30%.
Non-fungible token sales have plummeted 29.35% in the last week, according to current data. The decline is attributable to a drop in NFT sales across the most heavily leveraged blockchains that support NFTs. While Ethereum and Solana have the largest NFT sales volume, both blockchain networks have experienced Non-fungible Token sales drop by 27% to 32% in the last seven days.
Ronin, on the other hand, saw a 30.62% growth in NFT sales during the last seven days, making it the third-largest chain in terms of Non-fungible Token sales. In terms of Non-fungible Token revenue, the following four top blockchains likewise suffered declines across the board.
Weekly NFT sales for Avalanche were down 6.62%, Flow’s were down 38.84 %, Wax blockchain sales were down 8.58 %, and Polygon sales were down 37.29 % this week. The statistics compiled by Cryptoslam.io totals the sales volume for 12 distinct blockchain networks that use Non-fungible Token technology.
NFT collections that performed well
With $49.7 million in sales, the Karafuru collection of Non-Fungible Token collectibles led the field in terms of the best collection by weekly sales volume. With about $38.6 million in NFT sales this week, Cryptopunks came in second.
With $37 million in Non-fungible Token sales volume over the last seven days, the NFT collection Azuki came in third. Of course, Cryptopunk #5822 for 8,000 ether was the highest Non-fungible Token sale this week, but Meebit #16728 for $3.8 million was the second most expensive NFT sold in the last seven days.
According to data from dappradar.com’s marketplace stats, the market Looksrare has the highest sales volume this week, with $1.02 billion in sales. Despite the $1 billion in sales, Looksrare’s volume has dropped 70% in the last seven days.
The market at Opensea has taken in $317.96 million in weekly sales, down 65.77% from the previous week. Last week, sales of Solana’s Magic Eden were $43.5 million, down 33.72% from the week before.