Digital Collectibles Market Struggles as September NFT Sales Slide by 47.9%
news.bitcoin.com 01 October 2024 14:37, UTC Over the last two weeks, non-fungible token (NFT) sales have enjoyed steady week-over-week increases. However, when we compare the numbers from September to August, the story takes a different turn. Data from Cryptoslam.io reveals that September saw a 47.9% drop in total digital collectible sales compared to the previous month.
NFT Market Faces Continued Decline
August was a tough month for NFT sales, with revenue plummeting by 41.36% compared to July. Unfortunately, September didn’t bring any relief—it got even worse. The month saw a total of $317.77 million in NFT sales, marking a 47.9% drop from August.
Every one of the top five blockchains by NFT sales posted monthly losses. Leading the charge was Ethereum with $108.43 million in sales, but even that represented a 46.57% decline from the previous month. Bitcoin came in second with $63.98 million, followed by Solana’s $61.26 million.
Bitcoin’s NFT sales for September were down by 32.06%, while Solana saw a 41.75% dip. The top collection for September was Ethereum’s Cryptopunks, which pulled in $16.51 million. However, that’s still a 10.91% decrease compared to August.
Immutable X’s Guild of Guardians (GoG) secured the second spot with $14.1 million in sales, though that too was down by 2.68% from the previous month. Solana’s Dogezuki snagged third place, bringing in just over $10 million in sales for September.
Even so, Dogezuki’s sales were down 10.59%. As for the priciest NFT sold in the last 30 days, that title goes to Cryptopunk #6915, which changed hands for $1.46 million roughly a month ago. Arbitrum’s GETH Locked Deposit sold for $419,355, and seven days ago, Polygon’s Mining Pass #1574 went for $205,742.
The NFT market’s decline across all major blockchains signals a shift in momentum, with top collections like Cryptopunks and Guild of Guardians unable to escape the downward trend.
As blockchain ecosystems continue evolving, the pressure is mounting for NFT innovation to rekindle interest. Digital collectible collectors and developers alike must navigate this uncertain landscape to find new ways to revive demand.
What do you think about September’s NFT sales? Share your thoughts and opinions about this subject in the comments section below.
