17/06/2024 NFT sales drop 16%, hover just below $122m

This week marked a significant downturn for the non-fungible token (NFT) market, which saw sales drop by almost 16% off the back of a 17% surge in the previous week.

Per CryptoSlam, total sales hit $121.7 million, with more than 519,000 buyers and sellers actively trading.

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Blockchain NFT sales breakdown

NFT sales drop 16%, hover just below $122m - 1Blockchains by NFT sales volume | Source: CryptoSlam

The Ethereum (ETH) network led the charge with $39.28 million in sales, a notable 14.48% increase from the previous week.

This surge was accompanied by a marked increase in the number of active buyers on Ethereum’s NFT space, with the number going up nearly 48% to reach 23,586. The network also saw an increase in wash trading, up 35.49% to over $34 million.

Bitcoin (BTC), which was the busiest network in terms of sales in the previous week, dropped to second place this week, with about $26.5 million in sales, representing a 45.60 drop. Bitcoin recorded over 18,000 active buyers, which was a whopping 804% increase from last week. Wash trading on the network decreased by about 53%, settling at $20,030.

After a 22% boost in sales in the previous week, this week saw Polygon (MATIC) shave nearly 5.5% off its weekly sales volume to settle at $18.43 million. Solana (SOL) stayed in fourth with $14.631 million in sales, an 18.18% decrease. On its part, Immutable X (IMX) saw a surge, with sales increasing by 9.40%.

Top NFT sales

The highest sale of the week was from the Ethereum blockchain, with an NFT selling for $587,194. A Bitcoin Ordinal, Protoshroom #6, changed hands for $237,373, while a Polygon TTAvatars #128003 fetched $100,500.

Solana’s DeezNode #052 sold for $77,839, edging out a BNB NFT, Ape Treasury Bill V2 V3 #12668, which sold for $31,516.

NFT sales drop 16%, hover just below $122m - 2NFT collection rankings by sales volume | Source: CryptoSlam

Among collections, Immutable’s Guild of Guardians Avatars had the highest sales volume of the last seven days, raking in more than $8.1 million in 1,614 transactions.

Bitcoin’s PIZZA NFTs followed, generating $7.3 million, which was a drastic 60% reduction on its numbers from the previous week.

A new entrant in the top five collections ranked by sales volume was the Ethereum Name Service (ENS), which secured third spot with more than $5.3 million worth of NFTs sold. The figure represented an incredible 1022% jump, with the money coming from just 295 buyers.

The DMarket collection on Mythos earned $4.6 million from nearly 190,000 transactions, while Bitcoin Puppets from the Bitcoin network earned the #5 spot with about $2.7 million in sales.

Arts

https://crypto.news/nft-sales-drop-16-percent-122-million-what-happened/

Interesting NFTs
Who Is The Creator 2
The idea for this piece was borne out of a tweet of mine that caused a bit of a stir. I’d posted a link to a blog article I’d written a number of months previous titled ‘Who is the Creator’ discussing various types of creative collaborations and why I hire people to work on my animations. It generated a lot of debate around creation and attribution with the community split on whether it’s right or wrong for an artist to hire other professionals to help them realize their art projects. I decided to push the boundaries even further and see how the cryptoart community responded. What if I quite literally had nothing to do with the physical or digital elements of the work other than coming up with the concept and coordinating it? I decided there was one artist in the space who could add huge value to this idea on levels that none other could and so I gathered my courage and contacted the great José Delbo to ask him if he’d be interested in a very unique collaboration. I explained to him that to make this piece ‘work’ he couldn't have any say in what I produced and moreover, he wouldn’t even be allowed to see the animation until it was dropped on MakersPlace. To my surprise, Mr Delbo agreed to my proposal. The animation tells the story of the creative process, which includes my roles as writer, director, and producer working with a team and making edits and changes ‘in real time’. The dialogue between myself and my ‘hired guns’ plays out in front of the viewer. The music written for the piece adds to the nostalgia of the comic book superhero theme but other elements such as the snapping and kicking of the pencil and the signing of my signature at the bottom incorporates further layers and challenges the viewer to ask important questions, such as, is the ‘Art’ the final animation (the creation) or is the ‘Art’ the concept/credit for the creation itself?
The River of Emeralds
Golden conditions at one of my favorite locations in the Rockies. The light, the colors, the textures; what more can you ask for? I just loved the way this river flowed into the sunset and the mountains in the background. It's rare you find a scene as perfect as this one. But when you do, you have to take advantage of it.
G1 bubbleg, raisedb, secret_j
Ciao! I'm G1 bubbleg, raisedb, secret_j. In high school, I was voted biggest teacher's pet. I put peanut butter on everything. Like, everything: hot dogs, chocolate—everything! Purrhaps this is the beginning of a beautiful relationship.
Gangnam Wanted Poster #5/25
3L-84574RD, One of the most dangerous robot in Cryptovoxel, last seen in Gangnam near the Rose Nexus. Reward 99000credits battery full or empty. Help us find him, share this!
Lake Suwa in Shinano Province, from the series Thirty-six Views of Mt. Fuji
Katsushika Hokusai (1760-1849) Lake Suwa in Shinano Province, from the series Thirty-six Views of Mt. Fuji 1831 - Japan