NFT Sales Dip 36% In July 2024

Despite some great news flocking the non-fungible token sector in the past few weeks, the non-fungible token market has again tanked in trading sales volume

Despite recent positive developments in the NFT sector, such as Pudgy Penguins raising $11 million for their upcoming Abstract L2 network, Bored Ape Yacht Club launching Project Dragon, and Doodles unveiling Dullsville and the Doodleverse, NFT trading sales volume has declined in July.

According to data from CryptoSlam.io, a multi-chain NFT collection explorer and on-chain crypto market data aggregator, the global NFT market has seen a sales volume of $431 million in the past 30 days, marking a 36% decrease compared to the previous month.

The number of NFT investors has also significantly decreased, with nearly 1 million crypto traders purchasing NFTs in the past 30 days, down 32% from the previous month. As a result of lower market values this month, the number of traders who sold their NFTs has also decreased by 45% compared to the previous month.

However, the trading activities in the global NFT market have pushed NFT transactions past 10 million this month.

Among blockchain networks, Ethereum has maintained its dominance in the NFT market, hosting the majority of blue-chip NFT collections. In the past 30 days, Ethereum-based NFT collections have generated a trading sales volume of $132 million, down 41% from the previous month.

Solana follows closely behind as the second most-traded blockchain network in the NFT market. In the past 30 days, Solana-based NFT collections have raised a trading sales volume of $98 million, although this marks a 4.65% decrease compared to the previous month.

Bitcoin, known for hosting Runes, Ordinals, and BRC-20 NFT collections, has been the third most-traded blockchain network in the NFT ecosystem. In the past 30 days, Bitcoin-based NFT collections have attracted a sales volume of $74 million, down 53% from the previous month.

Polygon, an Ethereum scaling solution blockchain network, has emerged as the fourth most-traded blockchain network in the NFT market this month. In the past thirty days, Polygon-based non-fungible token collections have raised a trading sales volume of $45 million. Like Ethereum, Solana, and the Bitcoin network, Polygon NFT trading sales volume has decreased by 31% compared to the previous month.

Immutable X and Mythos Chain follow as the fifth and sixth most-traded blockchain networks in the NFT market this month, respectively. In the past 30 days, Immutable X –based NFT collection has amassed a trading sales volume of $20 million, while Mythos Chain-based NFT have raised a trading sales volume of $17 million. Immutable X NFT sales volume has surged 74%, while Mythos Chain NFT sales have plunged 10.74% from the past month.

Top Selling NFTs In The Past 30 Days

DMarket, a non-fungible token collection from the virtual asset market platform DMarket hosted on the Mythos Chain network, has been this month’s most-selling NFT collection, outpacing other dominant NFT collections like the Pudgy Penguins and the Bored Ape Yacht Club. In the past 30 days, the DMarket NFT collection has raised a trading sales volume of $16 million. During this period, the DMarket NFT trading sales volume has plunged 10.69% from the past month.

DogeZuki, a non-fungible token collection with a fixed supply of 2,800 Shiba Inu-inspired NFT items hosted on the Solana blockchain network, has been this month’s second most-selling NFT collection. In the past 30 days, the DogeZuki NFT collection has recorded a trading sales volume of $13 million. Fortunately, the DogeZuki NFT trading sales volume has surged 35% from the past month.

Solana Monkey Business, a non-fungible token collection featuring a limited edition of 5,000 randomly generated 24×24 pixel monkey NFTs created on the Solana blockchain network, has been this month’s third most-selling NFT collection. In the past 30 days, the Solana Monkey Business NFT collection has amassed a trading sales volume of $13.5 million. The Solana Monkey Business NFT trading sales volume has increased by 273% from the past month.

Gods Unchained, a non-fungible token collection from Gods Unchained, a digital trading card game that allows users to trade cards and purchase or earn real-world currency, has been this month’s fourth most-selling NFT collection. In the past 30 days, the Gods Unchained NFT collection has raised a sales volume of $11.6 million. The Gods Unchained NFT trading sales volume has soared 22% this month from the past month.

NodeMonkes, a non-