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Non-fungible token (NFT) sales this week fell 10.88% lower than the previous week. About $118.02 million worth of NFTs were sold this week compared to last week’s $132.43 million. Furthermore, the top two NFT collections with the largest market caps have shed significant value over the past seven days. While Bored Ape Yacht Club’s market cap lost 21.29%, Cryptopunk’s market cap fell 19.18%.
NFTs had a weak week as sales and prices have kept pace with falling crypto asset prices. Statistics show that a large number of NFT collections have lost significant market value in the past week. For example, calculations show that the floor value of Bored Ape Yacht Club (BAYC) on September 13, 2022 was $114,388 and today the floor value is around $90,026. BAYC’s market cap on September 13 was $1.14 billion and today it is down 21 .29% to $900.25 million.
Data shows that the second most expensive NFT floor belonged to Cryptopunks on September 13th, and that is still the case today. However, the cheapest Cryptopunk last week was around $98,941, but today you can get one for $79,960. Cryptopunk’s market cap has fallen 19.18% over the past week. The same can be said for a majority of blue chip NFT collectives such as PROOF Collective, Mutant Ape Yacht Club (MAYC), Castaways and Doodles.
Seven-day statistics show that the BAYC NFT collection is this week’s top selling collection, as $8,603,290 in trades were recorded. BAYC sales have increased by 17.33% and the second largest NFT collection in terms of weekly sales is RENGA. The RENGA NFT collection has managed to print $5,822,323 in seven-day sales, up 121.08% since last week. Overall, however, NFT sales across 17 blockchains monitored by cryptoslam.io are down 10.88% from last week.
Ethereum (ETH) topped NFT sales and Solana (SOL) recorded the second largest number of digital collectible sales this week. Although ETH-based NFT sales fell 1.66% lower than last week with $79.05 million in seven-day sales. SOL based NFT sales are down this week 42.11% lower than last week with $23.71M. Both Flow and Immutable X saw an increase in NFT sales. The Flow NFT sale jumped 59.42% higher and the Immutable X NFT sale had a significant increase of 790.96%.
The five most expensive NFTs sold this week all originated from the BAYC collection and include Bored Ape #441, Bored Ape #2897, Bored Ape #5733, Bored Ape #4179 and Bored Ape #1846. Bored Ape #441 sold for 351,000 DAI and Bored Ape #2897 sold for 215.38 ether or $296,404. Bored Ape #5733 sold three days ago for 120 ether or $176,458 and Bored Ape #4179 sold for 123 ether or $176,307. Finally, the fifth most expensive, Bored Ape #1846, was sold for 106 Ether or $151,939 four days ago.
What do you think about this week’s NFT sales falling more than 10% lower than last week’s sales? Let us know what you think about this topic in the comments section below.
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