Non-fungible token (NFT) sales saw a continued decline in September, with monthly sales volumes failing to rebound. Data from CryptoSlam revealed that NFT sales totaled $296 million in September, marking a 20% decrease from August's $373 million. This figure also represents an 81% drop from the peak sales volume of $1.6 billion in March 2024. Despite this downward trend, digital collectibles have not experienced monthly sales below $300 million since January 2021. Additionally, total NFT transactions decreased by 32% from 7.3 million in August to 4.9 million in September. However, the average value of NFT transactions rose by 18% from $50.71 to $60 during the same period. The decline in NFT sales coincides with increased scrutiny from the SEC, with notable actions taken against NFT platforms and projects. Despite regulatory challenges, some industry insiders remain optimistic about the future of NFTs. Read more AI-generated news on: https://app.chaingpt.org/news

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