{"id":187807,"date":"2021-04-21T08:49:54","date_gmt":"2021-04-21T07:49:54","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=187807"},"modified":"2021-04-21T11:06:05","modified_gmt":"2021-04-21T10:06:05","slug":"data-shows-nft-sales-fell-40-last-week-amidst-market-pullback","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/data-shows-nft-sales-fell-40-last-week-amidst-market-pullback\/","title":{"rendered":"Data shows NFT sales fell 40% last week amidst market pullback"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The latest mania surrounding non-fungible tokens (<\/span><a href=\"https:\/\/cryptoslate.com\/cryptos\/nft\/\"><span style=\"font-weight: 400;\">NFTs<\/span><\/a><span style=\"font-weight: 400;\">) is seemingly cooling off as sales revenues have decreased nearly by half in just one week, blockchain data and news outlet <\/span><a href=\"https:\/\/twitter.com\/PANewsOfficial\/status\/1384745025242689537\"><i><span style=\"font-weight: 400;\">PANews<\/span><\/i><\/a><span style=\"font-weight: 400;\"> pointed out today.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/PAData?src=hash&ref_src=twsrc%5Etfw\">#PAData<\/a> The <a href=\"https:\/\/twitter.com\/hashtag\/NFT?src=hash&ref_src=twsrc%5Etfw\">#NFT<\/a> fever is fading as the <a href=\"https:\/\/twitter.com\/hashtag\/NFTs?src=hash&ref_src=twsrc%5Etfw\">#NFTs<\/a> sales revenues in last 7 days dropped 42.43% to ~US$45.26M on Apr 21 from the $79.62M on Apr 14, according to <a href=\"https:\/\/twitter.com\/nonfungibles?ref_src=twsrc%5Etfw\">@nonfungibles<\/a>, which also decreased by 12.48%, compared to that on March 23.  ? <a href=\"https:\/\/t.co\/EnogPwOaGc\">https:\/\/t.co\/EnogPwOaGc<\/a> <a href=\"https:\/\/t.co\/uOOuNaFvi3\">pic.twitter.com\/uOOuNaFvi3<\/a><\/p>\n<p>&mdash; PANews (@PANewsOfficial) <a href=\"https:\/\/twitter.com\/PANewsOfficial\/status\/1384745025242689537?ref_src=twsrc%5Etfw\">April 21, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><strong>The NFT train<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">NFTs are a special type of non-interchangeable tokens that have taken the world by storm over the past couple of months. Unlike \u201ccommon\u201d cryptocurrencies, each NFT is unique and scarce\u2014qualities that are highly valued by collectors. NFTs can contain all kinds of digital data such as artworks, music, photographs, videos, and so on\u2014or even combinations of them.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Per the report, daily revenues from sales of NFTs have declined by 42.43% over the last week\u2014from $79.62 million on April 14 to $45.26 million on April 21. This suggests that collectors are becoming less eager to pay thousands or even millions of dollars for digital certificates of ownership that NFTs represent.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Notably, NFT sales on secondary markets\u2014where people are basically reselling their tokens bought from original creators\u2014historically have been even higher. However, they saw a drop too.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The <a href=\"https:\/\/twitter.com\/hashtag\/NFT?src=hash&ref_src=twsrc%5Etfw\">#NFT<\/a> secondary sales revenues hit ~US$27.64M while the primary sales totaled ~$17.63M. In the last 30 days, the highest single-day of primary sales revenues hit ~$21.76M while there were only 4 days that the single-day sales on the secondary market were under ~$21M. <a href=\"https:\/\/twitter.com\/hashtag\/PAData?src=hash&ref_src=twsrc%5Etfw\">#PAData<\/a> <a href=\"https:\/\/t.co\/fYeeID5ziq\">pic.twitter.com\/fYeeID5ziq<\/a><\/p>\n<p>&mdash; PANews (@PANewsOfficial) <a href=\"https:\/\/twitter.com\/PANewsOfficial\/status\/1384745040510021634?ref_src=twsrc%5Etfw\">April 21, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>What do on-chain metrics show?<\/h2>\n<p><span style=\"font-weight: 400;\">Over the past week, the total number of NFT sales on secondary markets decreased by 24.63%, amounting to around 25,400. Similarly, the number of active market wallets dropped to roughly 12,000, meaning that 42.43% of active participants of the NFT market stopped making trades.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the same time, the number of NFT sales and active wallets dropped by 41.2% and 38.37%, respectively, in the last 30 days.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As <\/span><i><span style=\"font-weight: 400;\">CryptoSlate<\/span><\/i><span style=\"font-weight: 400;\"> reported in early April, analysts from financial publication <em>Bloomberg<\/em> also suggested that declining prices could signify that the <\/span><a href=\"https:\/\/cryptoslate.com\/bloomberg-declining-prices-suggest-that-nft-craze-might-be-fizzling-out\/\"><span style=\"font-weight: 400;\">NFT craze might be fizzling out<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to the report, the average price of NFTs peaked at around $4,300 on February 22 but has dropped to about $1,400 by April 4. Notably, this all-time high coincided with the record-breaking sale of \u201cEverydays: The First 5000 Days\u201d\u2014an NFT artwork created by crypto artist Beeple\u2014<\/span><a href=\"https:\/\/cryptoslate.com\/beeple-nft-sold-for-69-million-is-the-fourth-most-expensive-artwork-sold-by-a-living-artist\/\"><span style=\"font-weight: 400;\">for over $69 million<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p>Meanwhile, despite the falling hype, some NFT fanatics continue to build out subcultures in the niche space. Plots of &#8216;virtual land' have been selling for over half a million dollars, and there are even <em>virtual arenas<\/em> with <em>virtual musicians<\/em> selling <em>virtual merchandise<\/em>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The latest mania surrounding non-fungible tokens (NFTs) is seemingly cooling off as sales revenues have decreased nearly by half in just one week, blockchain data and news outlet PANews pointed out today. #PAData The #NFT fever is fading as the #NFTs sales revenues in last 7 days dropped 42.43% to ~US$45.26M on Apr 21 from [&hellip;]<\/p>\n","protected":false},"author":472,"featured_media":187834,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,76232],"tags":[60923],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Data shows NFT sales fell 40% last week amidst market pullback<\/title>\n<meta name=\"description\" content=\"The latest mania surrounding non-fungible tokens (NFTs) is seemingly cooling off as sales revenues have decreased nearly by 50%.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/data-shows-nft-sales-fell-40-last-week-amidst-market-pullback\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Data shows NFT sales fell 40% last week amidst market pullback\" \/>\n<meta property=\"og:description\" content=\"The latest mania surrounding non-fungible tokens (NFTs) is seemingly cooling off as sales revenues have decreased nearly by 50%.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/data-shows-nft-sales-fell-40-last-week-amidst-market-pullback\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-21T07:49:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-04-21T10:06:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/04\/nfts-down.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Liam Frost\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Liam Frost\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/data-shows-nft-sales-fell-40-last-week-amidst-market-pullback\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/data-shows-nft-sales-fell-40-last-week-amidst-market-pullback\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/#person\",\"name\":\"Liam Frost\",\"url\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/03\/author-liam-frost-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/03\/author-liam-frost-300x300.jpg\",\"caption\":\"Liam Frost\"},\"jobTitle\":\"Reporter\",\"description\":\"Liam Frost is a freelance journalist and editor with over 15 years of experience working for various media outlets across the world. 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