Non-Fungible Token Sales Slid 31% Lower in March With $882 Million in NFT Sales

According to statistics, the fig of non-fungible token (NFT) income successful March was 31.42% little than the erstwhile month, dropping from $1.03 cardinal successful income for February to $882.89 million. The fig of NFT buyers and transactions besides declined, by 22% to 29%, implicit the past 30 days.

March NFT Sales Slow, Ethereum Sales Dominate by Over 60%

In March, income of non-fungible tokens (NFTs) dropped by 31% compared to the erstwhile month, arsenic the fig of buyers and transactions declined. Data shows that successful February, NFT income reached $1.03 billion, but statistic for the past time of March bespeak that income implicit the past 30 days amounted to $882.89 million. Of these sales, $537.89 cardinal were settled connected the Ethereum (ETH) blockchain, which dominated March income with much than 60%. Solana-based NFT income accounted for 10.57% of March sales, with $93.36 cardinal recorded.

30-day NFT income measurement according to cryptoslam.io metrics connected March 31, 2023.

In presumption of NFT sales, Solana was followed by Polygon ($36.16 million), Immutable X ($28.82 million), and Cardano ($10.08 million). The top-selling NFT postulation successful March was Bored Ape Yacht Club (BAYC), which generated $35.81 cardinal successful sales, though this fig represented a 48.19% diminution from the erstwhile month. Cryptopunks was the 2nd largest NFT postulation successful presumption of sales, with $30.11 million, an summation of 87.95% compared to February.

According to statistic from cryptoslam.io, the Bored Ape Yacht Club (BAYC) and Cryptopunks NFT collections were followed by Otherdeed ($29.20 million), MG Land ($25.71 million), and HV-MTL ($18.59 million). Among the apical 10 NFT collections, Degods saw a 70.53% summation successful income successful March compared to February, conscionable beneath the 87.95% summation that Cryptopunks experienced implicit the aforesaid period. Other notable collections that saw increases successful income this period see Y00ts, Claynosaurz, and Whiko NFT.

The astir costly NFT income this period were Azimuth Points #236, which sold for $704,000, followed by Bored Ape Yacht Club (BAYC) #5,116, which sold for $689,000, and Fidenza #971, which sold for $561,000. BAYC #2,062 sold for $557,000 5 days ago, portion Fidenza #395 sold for $547,000 conscionable implicit a period ago. According to 30-day statistics, nary NFTs sold for implicit a cardinal dollars successful March. According to Dappradar.com and Dune Analytics, Blur dominated income with implicit 70%, portion Opensea captured 19.9%.

What bash you deliberation caused the diminution successful NFT income and transactions successful March, and bash you judge this is simply a impermanent setback oregon a motion of a larger trend? Let america cognize your thoughts successful the comments below.

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