NFT Sales Dip Over 31% in April; Ethereum, Solana Experience Sharp Declines

Sales of non-fungible tokens (NFTs) experienced a 31.26% decline in April from the revenues recorded in March. Last month, statistics show that NFT transactions across several markets totaled approximately $1.15 billion in sales.

NFT Revenues Shrink in April, Certain Bitcoin Collections Buck the Trend

As April concluded and May commenced, data reveals that NFT sales for the previous month reached about $1.15 billion, reflecting a 31.26% decrease from March. The number of NFT purchasers also fell by 51.88%, while sellers saw a 45.72% reduction in the same period.

Among the 24 blockchains that mint NFTs, Bitcoin emerged as the leader last month, generating $597.62 million in sales. Nonetheless, sales of BTC-based NFTs in April were 4.3% below those in March.

April NFT sales according to Cryptoslam.io metrics.

Ethereum NFTs experienced a significant drop in sales, plunging to $247.32 million, a 56.8% decrease over the past month. Solana, the third largest blockchain by monthly sales, also saw a decline, with SOL-based NFT sales falling 39.4% to just over $159 million.

Polygon and Mythos Chain reported sales of $54.13 million and $28.68 million, respectively, marking losses ranging from 4.19% to 7.46%. Despite overall declines across the top five chains, Immutable X and Avalanche recorded upticks in NFT sales in April.

According to metrics from cryptoslam.io, April’s most lucrative collection was Bitcoin’s Uncategorized Ordinals, which garnered $314.82 million in total sales, marking an increase of 16.91% since last month. The Bitcoin Puppets collection followed, amassing $72.47 million in April, up a substantial 2,064.97% from March.

Additionally, the Bitcoin-based WZRDs collection saw an exponential rise of 25,796%, totaling about $36.47 million in 30-day sales. Nodemonkes rounded out the top five, despite a 54.38% drop from March, with $32.70 million in sales.

Ethereum boasted the most expensive NFT sale this month with Cryptopunk #635 fetching $12.4 million. BNB Chain’s Lock Deal NFT sold for $651,963, and Bitcoin Ape #2,301 commanded a price of $459,437. Solana’s Boogle #037 went for $296,113, while Flow’s Flovatar sold for $210,495.

What do you think about the NFT sales recorded in April 2024? Do you expect NFT sales to pick up again this summer? Share your thoughts and opinions about this subject in the comments section below.