NFT Sales Declined by 4% in March 2024

by Giorgi Kostiuk

2 years ago

Made with AI

According to data from cryptoslam.io, a platform that aggregates on-chain crypto market data, the global non-fungible token market experienced another decrease in sales this past month. Over the last 30 days, the NFT market saw a total trading sales volume of $1.3 billion, marking a 4% decline compared to the previous month.

The number of investors buying and selling NFT collections also decreased during this period. The number of NFT buyers dropped by 91.54% to 84,571, while the number of sellers reduced by 89.63% to 75,484 from the previous month.

Bitcoin emerged as the most traded blockchain network in March, with Bitcoin-based NFT collections generating a trading sales volume of $495 million, a 41% increase from the previous month. Ethereum followed closely as the second most-traded network, with a sales volume of $483 million in the same timeframe.

Other blockchain networks that saw significant activity in the NFT market in March include Solana, Polygon, and Mythos Chain. Solana-based NFT collections generated $238 million in sales, while Polygon-based collections amassed $35 million. Mythos Chain-based NFT collections saw a surge in sales volume, reaching $31 million.

Top NFT Collections Sold in March 2024

In the past 30 days, the most popular NFT collections were:

Bitcoin Ordinals "Uncategorized" NFTs
NodeMonkes NFT Collection
CryptoPunks NFT Collection
Bored Ape Yacht Club NFT Collection
Mad Lads NFT Collection

Image of top-selling NFTs

Among these collections, Bitcoin Ordinals led in sales volume, with $165 million generated. NodeMonkes, CryptoPunks, Bored Ape Yacht Club, and Mad Lads also saw significant sales during the month.

Top NFT Sales in March 2024

The most expensive NFT collections sold in March were:

CryptoPunk #7804 - $16 million
$ORDI BRC-20 NFT - $493,162
LockDealNFT #40081 - $416,504

Image of most expensive NFTs in past 30 days

NFT Market Prediction for April 2024

It is predicted that the NFT market will regain momentum once the current meme coin frenzy subsides. Statista projects that NFT market revenue will reach $2.378 billion in 2024, with an annual growth rate of 9.10%, potentially reaching $3.36 billion by 2028.

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