Sales of non-fungible tokens (NFTs) saw a 31.26% decline in April compared to revenues recorded in March. Statistics show last month that NFT transactions across markets totaled approximately $1.15 billion in sales.
NFT Revenues Shrink in April, Certain Bitcoin Collections Buck the Trend
As April ended and May began, data shows that NFT sales last month were approximately $1.15 billion, reflecting a 31.26% decline from March. The number of NFT buyers also fell by 51.88%, while sellers saw a decline of 45.72% over the same period.
Of the 24 blockchains that produce NFTs, Bitcoin emerged as the leader last month, with $597.62 million in revenue. Nevertheless, sales of BTC-based NFTs in April were 4.3% lower than those in March.
NFT sales in April according to Cryptoslam.io statistics.
Ethereum NFTs saw a significant decline in sales, to $247.32 million, down 56.8% over the past month. Solana, the third largest blockchain by monthly revenue, also saw a decline, with SOL-based NFT revenue falling 39.4% to just over $159 million.
Polygon and Mythos Chain reported revenues of $54.13 million and $28.68 million, respectively, for losses ranging from 4.19% to 7.46%. Despite overall declines across the top five chains, Immutable X and Avalanche posted increases in NFT sales in April.
According to stats from cryptoslam.io, April’s most lucrative collection was Bitcoin’s Uncategorized Ordinals, which generated a total of $314.82 million in sales, up 16.91% from last month. The Bitcoin Puppets Collection followed suit, raising $72.47 million in April, a significant increase of 2,064.97% from March.
Furthermore, the Bitcoin-based WZRDs collection saw an exponential increase of 25,796%, totaling approximately $36.47 million in sales in 30 days. Nodemonkes rounded out the top five, despite a 54.38% decline from March, with revenue of $32.70 million.
Ethereum had the most expensive NFT sale this month, with Cryptopunk #635 raising $12.4 million. BNB Chain’s Lock Deal NFT sold for $651,963, and Bitcoin Ape #2,301 was priced at $459,437. Solana’s Boogle #037 went for $296,113, while Flow’s Flovatar sold for $210,495.
What do you think of NFT sales in April 2024? Do you expect NFT sales to pick up again this summer? Share your thoughts and opinions on this topic in the comments below.
