📉NFT sales volume down 54% in May
In May 2024, NFT sales experienced a significant decline, with global sales volume dropping to $624 million, down 54% from April's volume of over $1 billion. Major blockchains like Bitcoin, Ethereum, and Solana saw notable decreases in NFT sales.
Bitcoin-based NFTs recorded $179 million in sales but experienced a 68% decline from April. Ethereum and Solana NFTs also saw downturns, with sales volumes decreasing by 55% and 48%, respectively. Among the top 10 NFT collections, Solana's Mad Lads, Ethereum's CryptoPunks, and Bored Ape Yacht Club (BAYC) were the most affected. BAYC sales volume dropped by 54%, Mad Lads by 44%, and CryptoPunks by 41%.
