The NFT market experienced a slight decline in July 2024, with total sales across 20 blockchains dropping 2% to $430 million. Despite this, the market remains robust, led by Ethereum with a 33% share and Solana with 23%. The decline may be due to seasonal factors, but it could also indicate a shift in investor sentiment. The continued dominance of established platforms like Ethereum suggests that investors value stability and liquidity, while the growth of Polygon and Immutable highlights the potential for emerging players. Overall, the NFT market is expected to continue its upward trajectory, driven by increasing adoption, innovation, and the growing popularity of digital collectibles and art.
According to PANews, NFT sales across 20 tracked blockchains totaled approximately $430 million in July 2024, marking a 2% decrease from June's $439 million. Ethereum led the market with NFT sales accounting for 33.07% of the total, roughly $142 million. Solana followed with a 22.69% share, amounting to around $97.7 million. Bitcoin ranked third with $77.3 million in sales, while Polygon and Immutable recorded $33.9 million and $21 million, respectively. Mythos also contributed with $17.5 million in NFT sales.