The non-fungible token market that used to be the talk of the streets in 2021 has seen a shocking meltdown in the past three years, gaining a bad reputation among critics. After recording a month-over-month downturn, the global NFT market has been compared to an economic bubble or a Ponzi scheme. In yet another month, the NFT market has recorded a negative gain, with its trading sales volume dropping over 40% from the past month.
NFT Sales Fall 48% In September 2024
Data compiled by CryptoSlam.io, an on-chain crypto market data aggregation platform designed to offer transparency for NFT collectibles across multiple blockchains and backed by prominent crypto billionaire Mark Cuban, shows that the global non-fungible token market has fallen again in sales volume this month. In the past 30 days, the global NFT market has attracted a trading sales volume of $316 million, representing a 48 % decrease from the past month.
In September 2024, the number of investors who bought non-fungible token collections decreased. In the past 30 days, the global NFT market has seen 785,974 crypto traders buy NFTs. Unfortunately, this figure has reduced by 34% this month from the previous month. During this period, the number of investors who sold their NFTs has also reduced. These trading activities have pushed the global NFT market transactions above 5.4 million.
Ethereum, the blockchain network renowned in the NFT market for powering the majority of blue-chip non-fungible token collections, has retained the global NFT market dominance this month. In the past 30 days, the Ethereum-based NFT collections have amassed a trading sales volume of $107 million. During this time, Ethereum NFT sales have plunged by 48% from the past month.
Bitcoin, the blockchain network powering the flagship crypto “Bitcoin” and renowned in the global NFT market for hosting Runes, Ordinals, and BRC-20 NFTs, has slightly revived again, becoming the second most-traded blockchain network in the NFT ecosystem. In the past 30 days, the Bitcoin-based NFT collections have raised a trading sales volume of $63 million. The Bitcoin NFT sales volume has plunged 33% this month from the past month.
Solana, an open-source blockchain network that supports smart contracts, including non-fungible tokens and various decentralized applications, has been the third most-traded blockchain network in the NFT market in September 2024. In the past 30 days, the Solana-based NFT collections have amassed a trading sales volume of $61 million. During this time, the Solana NFT trading sales have plunged 41% from the past week.
Polygon, the popular Ethereum scaling solution blockchain network, has suffered a shot in sales, becoming the fourth most-traded blockchain network in the NFT ecosystem in September 2024. In the past 30 days, the Polygon-based non-fungible token collections have attracted a trading sales volume of $26 million. During this time, the Polygon NFT sales volume has reduced by 68% from the past month.
BNB Chain, a decentralized blockchain network introduced by Binance, one of the largest cryptocurrency exchanges in terms of daily crypto trading volume, is this month’s fifth most-traded blockchain network in the NFT market. In the past 30 days, the BNB Chain-based NFTs have garnered a trading sales volume of $14 million, closing our five most-traded blockchain networks in September 2024.BNB Chain NFT sales volume has plunged by 72% from the past month.
Top Selling NFTs In September 2024
1. CryptoPunks NFT Collection
Punks, a non-fungible token collection featuring a limited edition of 10,000 pixilated Ethereum-based NFTs previously created by Larva Labs and now managed by Bored Ape NFT creator Yuga Labs, has been the most-selling NFT collection. In the past seven days, the CryptoPunks NFT collection has recorded a trading sales volume of $16 million. During this period, CryptoPunks NFT sales volume has plunged 12% from the past month.
2. Guild Of Guardians NFT Collection
The Guild of Guardians, a non-fungible token collection from Guild of Guardians, a renowned role-playing NFT game that allows players to take teams of heroes through challenging dungeons to collect redeemable resources, has been the second most-selling NFT collection in September 2024. In the past 30 days, the Guild of Guardians has amassed a trading sales volume of $13 million. During this time, the Guild of Guardians NFT trading sales have plunged by 5% from the past month.
3. DogeZuki NFT Collection
DogeZuki, a non-fungible token collection featuring a limited edition of 28000 NFTs fusing the worlds of Doge and Azuki, has been the third most-selling NFT collection in September 2024. In the past 30 days, the DogeZuki has recorded a trading sales volume of $10 million. During this period, the DogeZuki NFT trading sales volume has plunged 9.45% from the past month.
4. NodeMonkes NFT Collection
NodeMonkes, a renowned ordinal collection featuring a limited edition of 10,000 NFTs hosted on the Bitcoin blockchain network, has been the fourth most-selling NFT collection in September 2024, outshining dominant NFT collections like Bored Ape. In the past 30 days, the NodeMonkes NFT collection has recorded a trading sales volume of $9.4 million. During this time, the NodeMonkes NFT sales volume has surged 21% from the past month.
5. Sorare NFT Collection
Sorare, a non-fungible token collection from Sorare, a free fantasy football game letting gamers buy, sell, and compete with tokenized digital player cards (NFTs) from some of the world’s top leagues and players to win redeemable prizes, has been the fifth most-selling NFT collection in September 2024. In the past 30 days, the Sorare NFT series has raised a trading sales volume of $9 million.
6. DMarket NFT Collection
DMarket, a non-fungible token collection from DMarket, a Ukrainian NFT Marketplace for secure buying, selling, and trading of NFT items on the Mythos chain, has been the sixth most-selling NFT Collection in September. In the past 30 days, DMarket, representing in-game items for popular games like Counter-Strike and Dota 2, has amassed a trading sales volume of $8.4 million. DMarket NFT sales have plunged by 58% in September from August 2024.
7. Bored Ape Yacht Club NFT Collection
Bored Ape Yacht Club, an NFT collection from the digital asset incubation firm Yuga Labs with a limited supply of 10,000 NFTs hosted on the Ethereum blockchain network, has been this month’s seventh most-selling NFT collection. In the past 30 days, the Bored Ape Yacht Club NFT collection has raised a trading sales volume of $7.1 million. During this period, the Bored Ape Yacht Club NFT trading sales volume has plunged 37% from the past month.
8. $?? BRC-20 NFT Collection
$??, a non-fungible token collection created on the Bitcoin blockchain network using the BRC-20 protocol, has been the eighth most-selling NFT collection in September 2024. In the past 30 days, the $?? BRC-20 NFT collection has recorded a trading sales volume of $7.1 million. The $?? BRC-20 NFT collection has surged 59% from August 2024 to September 2024.
9. Bitcoin Puppets NFT Collection
Bitcoin Puppets, a renowned ordinal collection featuring a limited supply of 10,001 unique PFPs hand-drawn in MS Paint by a 12-year-old artist and stored in the Bitcoin blockchain network, has been the ninth most-selling NFT series in September. In the past 30 days, the Bitcoin Puppets NFT collection has raised a trading sales volume of $6 million. During this time, the Bitcoin Puppets NFT sales volume has surged by 0.04% from the past month.
10. Solana Monkey Business NFT Collection
Solana Monkey Business, a non-fungible token collection of 5000 unique 24×24 pixels randomly generated Monkeys stored on the Solana blockchain network, has been the tenth most-selling NFT collection. In the past 30 days, the Solana Monkey Business NFT collection has recorded a trading sales volume of $5.8 million. Solana Monkey Business NFT sales volume plunged by 34% in September 2024.
Top NFT Collectible Sales In September 2024
The CryptoPunks #6915 was the most costly NFT collection sold this month, selling for $1.4 million twenty-four days ago. gETH Locked Deposit #164 NFT was the second most costly NFT collection sold this month, selling for $419,355 thirty days ago. Mini Pass #1574 was the third most costly NFT Collection sold this month, selling for $205,742 five days ago. Boogle #025 NFT was the fourth most costly NFT collection sold this month, selling for $143,070 eighteen days ago.
The NFT Market Prediction For October 2024
The non-fungible token market has undergone significant changes, experiencing both highs and lows in recent years. Despite the current downturn, the NFT market has shown signs of resilience and evolution. Statista projects the global NFT market revenue to reach over $2.3 billion in 2024. Revenue is expected to show an annual growth rate of 9.10%, resulting in a projected total sales volume of $3.37 billion by 2028. Moreover, the average revenue per user in the NFT market is expected to hit $138.8 in 2024.
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