Non-Reversible Token (NFT) sales this week are down 10.88% from last week. About $118.02 million worth of NFTs were traded this week compared to $132.43 million last week. Additionally, the top two sets of NFTs by largest market capitalization have posted higher prices over the past seven days. While Board Up Yacht Club’s market cap dropped 21.29 percent, Cryptopunks’ market cap dropped 19.18 percent.
NFT sales and prices Nosedive
NFTs had a bright week as sales and prices followed in sync with falling crypto asset prices. Statistics show that a number of NFT clusters have lost significant market value over the past week. For example, metrics show that Bored Up Yacht Club (BAYC) had a floor price of $114,388 on September 13, 2022, and today’s floor price is around $90,026. On September 13, BAYC’s market cap was $1.14 billion, down 21.29% to $900.25 million today.
Data shows that the second most expensive NFT floor price was owned by Cryptopunks on September 13th and remains the same today. However, the cheapest Cryptopunk was last week for $98,941, but today you can get one for $79,960. Cryptopunks market cap has dropped by 19.18% in the last week. The same can be said for most blue chip NFT collectives such as PROOF Collective, Mutant Ape Yacht Club (MAYC), Castaways and Doodles.
Seven-day statistics show that the BAYC NFT stock set a record high for the week, recording $8,603,290 in trade volume. BAYC sales increased by 17.33% and the second largest NFT collection in weekly sales is RENGA. RENGA NFT stock posted $5,822,323 in seven-day sales, up 121.08% from last week. Overall, however, NFT sales across the 17 blockchains controlled by cryptoslam.io are down 10.88% from last week.
Ethereum (ETH) held the highest NFT sales and Solana (SOL) recorded the second highest number of digital collectible sales this week. However, ETH-based NFT sales were down 1.66% from last week at $79.05 million in seven-day sales. NFT sales based on SOL decreased by 42.11% this week with $23.71 million. Both Flow and Immutable X have seen significant increases in NFT sales. Flow NFT sales rose by 59.42%, and Immutable X NFT sales increased by 790.96%.
The five most expensive NFTs sold this week are all from the BAYC collection and include Bored Ape #441, Bored Ape #2897, Bored Ape #5733, Bored Ape #4179 and Bored Ape #1846. Bored App #441 sold for 351,000 DAI and Bored App #2897 sold for 215.38 Ether or $296,404. Bored Up #5733 was sold three days ago for 120 Ether or $176,458 and Bored Up #4179 was sold for 123 Ether or $176,307. Finally, the fifth most expensive Bored Up #1846 was sold four days ago for 106 Ether or $151,939.
What do you think of this week’s NFT sales down more than 10% from last week’s sales? Let us know what you think about this in the comments section below.
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