NFT sales continued to trend downward in September as monthly sales volumes for digital collectibles failed to recover. According to CryptoSlam data, NFTs saw $296 million in sales in September, a 20% decrease from Augustâs $373 million in sales, and an 81% decrease from Marchâs $1.6 billion in sales.
Total NFT transactions decreased by 32% in September, from 7.3 million to 4.9 million. However, the average value of NFT transactions increased by 18%, from $50.71 to $60.
The U.S. Securities and Exchange Commission (SEC) has begun investigating NFTs. OpenSea CEO Devin Finzer said the SEC alleged that some NFTs on the platform may be unregistered securities. The SEC fined NFT-themed restaurant Flyfish Club $750,000. However, some SEC commissioners criticized the sanction.
What do you think about these developments in the NFT market? We are waiting for your comments.
