Markets

NFT sales plummeted in 2023 while upper-class prices fell

Several non-fungible token (NFT) pools have seen their floor prices fall this year. Moreover, the NFT boom of previous years failed to gain any traction in 2023.

NFT markets are in the doldrums. While the cryptocurrency markets have gained 40% since the beginning of the year, the same cannot be said for NFTs.

NFTs and digital collectibles are losing their luster

Moreover, some of the biggest and most popular groups from last year have struggled this year.

On May 22, influencer and industry watcher HashBastards NFTs open How far have some of the best NFTs fallen?

The doodle pool has dropped by 90% in terms of the lowest price, dropping from 23 ETH to just 2.3 ETH. At the time of writing, OpenSea is offering a minimum price of just 2.169 ETH, or about $3,900.

Doodle is a community-driven collectibles project featuring 9,999 items with art by Burnt Toast. The most expensive listed is #8712 for 123,456 ETH (~$222,000).

according to cryptoslamDoodles had sales of $2.4 million in April, down from $53 million in April 2022.

Moonbirds is another NFT that has fallen from its heights. The researcher notes that the lowest price has fallen by 94% from 32 ETH to 2.1 ETH.

Moonbirds’ turnover has dropped from $484 million when the project launched in April 2022 to just $3.1 million last month, according to CryptoSlam.

The price of the Goblintown NFT cluster was a minimum of 6 Ethereum. It’s now down to just 0.27 ETH, or $490 USD, for a previously requested non-fungible collecting item.

Sales volume is down 99% from $37 million in monthly sales when the collection launched in May 2022. In April 2023, only $257,670 was transferred in volume.

Moreover, the Invisible Friends group saw the floor price drop by 85% from 8 ETH to 1.15 ETH. This set of 5,000 invisible animated figures by Marcus Magnusson sold $68 million upon release in February 2022. In April 2023, sales volume was down to just $847,266.

CryptoSlam reports that total NFT sales decreased by 84% from April 2022 to April 2023.

One year NFT sales volume | cryptoslam

dump groups

On May 21, Twitter account “NFTstatistics” to publish That sellers have dumped a large number of NFTs into the Blur Market.

Someone dumped 350 Doodles in bids (sales spread across 4 wallets). Someone dumped 190 MAYC in bids. Someone dumped Doodles still long 350+ CloneX “.

They added, “In general, these are just situations that people have accumulated over time either by farming by bids or by pumping projects and eventually they needed to get rid of it.”

Bored Ape Yacht Club has remained the best-selling pool over the past 30 days, taking in $43 million, according to Cryptoslam.

Disclaimer

Adhering to the Trust Project’s guidelines, BeInCrypto is committed to providing unbiased and transparent reporting. This news article aims to provide accurate and timely information. However, readers are advised to independently check the facts and consult with a professional before making any decisions based on this content.

Leave a Reply

Your email address will not be published. Required fields are marked *