NFT sales at 30 days are 88% lower than they were 8 months ago!

Last month, $549.82 million in NFT sales occurred in September, showing that monthly NFT sales are over 88% lower than they were in January. In addition, after the search term “NFT“reached the highest score on Google Trends last January, recording a score of 100, the score for the last week of September was 12, which also represents an 88% drop in interest.

NFT trading volume and search queries slip – sales and interest down 88%.

Non-fungible token technology (NFT) was very popular in late 2021 and the first month of 2022. In fact, according to Google Trends (GT) data, worldwide, the term “NFT“got the highest score a search query can get in the GT database, namely 100.

In fact, this was the first time the search term hit this region according to the GT database, but today the score is 88% lower with a score of 12 during the week of September 25 to October 1, 2022. Today, China is the most active region according to GT’s metrics and the country is followed by Hong Kong, Singapore, Nigeria and Taiwan.

Sales have also declined since January, as the data shows that NFT sales were just over the half-billion mark, at approximately $549.82 million. This is about 88.49% less than the $4.77 billion in NFT sales recorded eight months ago.

May was the last month that NFT sales exceeded the $1 billion mark and that month $3.18 billion in NFT sales were recorded. The following month saw a significant drop to $879 million and in July, NFT sales reached $682 million. August sales dropped after $633 million in NFT sales were recorded that month, and September sales were 13.27% lower.

So far, the first week of October 2022 has seen $105.22 million in NFT sales via 191,175 unique buyers. The 30-day statistics show that the top-selling NFT collection is Bored Ape Yacht Club (BAYC), which had $30,964,305 in sales last month.

However, this amount is 37.49% lower than the sales recorded by BAYC the previous month. Statistics aggregated by cryptoslam.io show the QQL Mint Pass project saw $27.80 million in sales this month and Cryptopunks captured $23.49 million.

The Generative Art NFT project with works by Tyler Hobbs and Dandelion Wist Mané is a new collection with no prior market data, but Cryptopunks’ $23.49 million in NFT sales is up 12.27% from the previous 30 days.

Four specific projects saw triple-digit gains over the past month compared to the previous month’s NFT sales data, namely Renga, Gods Unchained, Ethereum Name Service (ENS) and NFL All Day, respectively. Over the past month, most of the sales volume came from the Ethereum blockchain, which recorded $345,633,653 in sales.

Ethereum sales were followed by Solana ($114.32 million), Flow ($20.61 million) and Immutable X ($18.95 million). While Ethereum-based NFT sales dominated, month-over-month statistics show ETH are down 21.26 percent. The 30-day metrics show that Solana-based NFT sales are up 109.23% and streaming NFT sales are up 40.58%. Immutable X-derived NFT sales were up approximately 125.30% month-over-month.

Coincidentally, the five most expensive NFTs sold in the past 30 days are from Yuga Labs’ associated NFT collections, such as Bored Ape Yacht Club and Otherdeeds. The most expensive NFT sold in the last 30 days was Bored Ape #8585 for $1.03 million and the second most expensive NFT sold was Bored Ape #441 which was sold for $350,991 19 days ago.