We use cookies to improve your experience.
Lost or forgotten your password? Please enter your email ddress. You will receive mail with link to set new password.
NFT global sales continued to decrease in July.
The average sale value has moved from $511 to $115.
Global NFT sales volume was around $647 million in July.
Top Crypto Exchanges Without KYC Read Now
NFT global sales experienced a sharp decline in volume during the seventh month of the year due to decreased investor interest in digital collectibles.
Non-Fungible Tokens (NFTs) sales soared at the start of the year. Unfortunately, the bearish trends of the market which deepened in the second week of May have not helped the sales volume of NFT projects in the months that followed.
NFT sales across the globe were approximately $647.23 million in July, according to Be[In]Crypto Research.
Although this figure seems high, it was a 26% decline from June’s volume. In June, sales were around $879 million.
Normally identified by its abbreviation, NFT, non-fungible tokens are digital assets that serve as a representation of a range of unique tangible and intangible items such as virtual real estate, collectible sports cards, digital art, and digital sneakers among others.
NFTs are indestructible, non-interoperable, indivisible, and verifiable.
Axie Infinity, Bored Ape Yacht Club (BAYC), CryptoPunks, Mutant Ape Yacht Club (MAYC), and Art Blocks are the top five NFTs by all-time sales volume.
When you assess the number of unique buyers from July, the drop in sales volume led to the falling transaction counts, with 532,378 unique buyers, and 5.6 million transactions.
In comparison to Jan. 2022, when global sales reached the second-highest mark, unique buyers stood at 1.07 million and corresponded to 9.36 million transactions. In January, global NFT sales were roughly $4.78 billion.
By generating less than $700 million in sales for the first time since June 2021 ($327 million), NFTs reached a new low in 2022 which was a $4.14 billion decrease in volume from Jan.
Aside from unique buyers and transactions, average sale value also tumbled. There was a 77% plunge in average sale value from $511.33 in January to $115.15 in July.
What do you think about this subject? Write to us and tell us!
As a writer, researcher, and analyst of centralized and decentralized financial instruments (stocks, commodities, metals, and cryptocurrencies), he started experimenting with financial asset trading in 2011. He ventured into full-time long term investing of cryptocurrencies in 2016.
Join our Telegram Group and get trading signals, a free trading course and daily communication with crypto fans!
Join Our Telegram
Stay tuned with daily newsletters that make reading the news simple and enjoyable
Author
Administraroot
