October proved to be a favorable period for the broader crypto asset landscape; However, it cast a shadow on the non-fungible token (NFT) sector, where sales fell 21.64%. Ethereum NFTs took the lion’s share, collecting $171 million of the $313 million total despite a 17.26% decline in sales volume over the month.
NFT market contracts in October
The non-fungible tokens (NFT) market has experienced a significant decline in value since its peak, paralleling a significant decline in sales. Data collected by cryptoslam.io indicates a pronounced downward trend in sales from February 2023.
Sales and NFT buyer data for the month of October 2023, according to cryptoslam.io statistics.
In the span of one month, from the end of September to the end of October 2023, the market saw $313.37 million in NFT sales. Nevertheless, the previous month’s revenue was approximately $397 million, down more than 21% in just one month.
Ethereum positioned itself at the forefront of NFT sales, amassing $171 million in October, which represented 54.63% of the entire month’s sales. Despite this lead, sales of ETH-based NFTs witnessed a decline of 17.26% compared to the previous month.
The top six blockchains in terms of NFT sales in the last 30 days.
Mythos Chain emerged as the second most dominant blockchain in October NFT sales, up 10.76% from September, with sales totaling $36.90 million or 11.78% of the total for the month.
Solana (SOL) contributed 9.23% of the total of $313 million with revenue of $28.91 million. Ethereum, Mythos and Solana were followed by Polygon with $20.26 million, Bitcoin with $17.75 million and Immutable X with $15.12 million in NFT sales for October.
Polygon sales fell 59.94% compared to September, while Bitcoin NFT sales rose 11.72%. In contrast, Immutable
The top six NFT collections by revenue over the past 30 days.
In terms of NFT collections, the largest revenue was Mythos’ Dmarket at $36.65 million, up 10.99% from September. Ethereum’s Bored Ape Yacht Club (BAYC) took second place with $23.44 million, a 50.77% improvement from the previous month.
Coming in third is Immutable X’s Gods Unchained as it generated $14.26 million in sales in October. However, Gods turnover in October fell 22.72% lower than in September.
The Winds of Yawana NFT collection stood out with the largest sales increase among the top ten collections last month, up 249.55% in October.
The top five NFT sales of October in terms of price and blockchain, according to cryptoslam.io statistics.
The most substantial transaction of the month took place on the Blur marketplace, with the sale of a Mutant Ape Yacht Club “Mega Zombie” for $809,000. Following closely behind was the Immutable X-based NFT, Cross The Ages #223963, which raised $151,000.
The trio of most expensive NFT sales in the last month came from Bitcoin, Polygon and Ronin. October showed the most expensive floor values of Cryptopunks, Nouns and BAYC. Cryptopunks ended the month with a bottom hovering around 46.87 ETH, while Nouns ended October at around 37 ETH.
BAYC, which had been on a downward trend for several months, closed the month with a bottom value of almost 30.48 ETH, equivalent to $55,891, based on prevailing ether exchange rates. Just behind BAYC’s floor value, GEN1 Pass holders occupy the fourth tier in terms of floor value, with a value of 16 ether.
What do you think of October’s NFT sales? Share your thoughts and opinions on this topic in the comments below.
