After blistering January, NFT sales decline by 30%

January was undoubtedly a great period for the non-fungible token (NFT) industry arsenic the abstraction recorded a caller all-time precocious successful its income volume.

However, that tin not beryllium said for its measurement truthful acold this month. According to information from cryptoslam.io, NFT income measurement has plummeted by astir 30% wrong the past 7 days.

The drastic driblet successful income is astonishing considering the information that the abstraction conscionable witnessed the champion period of its abbreviated past and besides recorded 1 of its astir costly income during this week — we earlier reported that CryptoPunk #5822 was sold for implicit $23.7 million.

A cursory look astatine the information would amusement that NFT income declined connected Ethereum by arsenic overmuch arsenic 32% portion Solana-based NFTs saw their income driblet by 28%. Other blockchains with immense losses see Flow and Polygon which mislaid 38% and 37% respectively.

Interestingly, the income measurement connected Ronin roseate by implicit 30% wrong the aforesaid play and is present the third-largest concatenation with NFT sales.

How NFT collections fared

Karafun NFT postulation was the highest-selling NFTs during this week arsenic the postulation sold adjacent to $50 million. Other apical performing collections see CryptoPunk with $38.6 cardinal acknowledgment to its grounds merchantability and Azuki NFTs with $37 million.

A abstracted data from dappradar.com stated that income connected LooksRare accounted for implicit $1 cardinal of NFT sales, an implicit 70% driblet of its income successful the past 7 days. OpenSea, connected the different hand, recorded income lesser than $350 cardinal arsenic its income were down by 65% wrong the aforesaid period.

LooksRare gross beats that of OpenSea

Available data from Token terminal shows that LooksRare gross wrong the past 30 days beats that of its much illustrious rival. According to the data, LooksRare earned implicit $300 cardinal successful gross portion OpenSea earned implicit $100 million.

However, contempt the disparity successful their earnings, these NFT marketplaces out-earned different Ethereum decentralized applications. The closest dApp connected the database is fashionable decentralized exchange, dYdX, which earned astir $47 cardinal successful the past 30 days.