Data: Sales of NFTs Have Plunged by More Than 54% Over the Past Week

Over the course of the past week, NFT sales volume reached USD 25m, a drop of 54.6% compared to the earlier week, according to data by NonFungible.com. Similarly, the number of NFT sales, average value of NFTs, and secondary sales have all taken a plunge, dropping by 22.2%, 41.8%, and 56.7%, respectively. Blue-chip NFT collections have not been an exception. Sales of Yuga Labs’ Otherdeed NFTs, BAYC, Azuki, and MAYC have all dropped by more than 50% over the past week, according to data by CryptoSlam. Among the more popular blue-chip collections, Azuki NFT have been hit the most. Sales of the collection have dropped by around 77% over the past week, with a 74% drop in the number of new buyers.