{"id":222655,"date":"2022-03-04T03:00:45","date_gmt":"2022-03-04T03:00:45","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=222655"},"modified":"2022-03-03T20:53:42","modified_gmt":"2022-03-03T20:53:42","slug":"nft-buyers-drop-to-lows-last-seen-five-months-ago","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/nft-buyers-drop-to-lows-last-seen-five-months-ago\/","title":{"rendered":"NFT buyers drop to lows last seen five months ago"},"content":{"rendered":"

It has been a few rollercoaster months for the Non-fungible sector, but it appears the hype has reduced a little.\u00a0<\/span><\/p>\n

Data from CryptoSlam revealed that the number of unique NFT buyers for February was 796,009, down by 12% from its January record. This marks the first time that buyers will be below 800,000 since October 2021.<\/span><\/p>\n

Numbers of NFT buyers drop<\/strong><\/h2>\n

It wasn't only the number of buyers that dropped. The trading volume also dropped significantly to $2.6 billion. This is a 40% fall from the record January volume.\u00a0<\/span><\/p>\n

With the drop in NFT trading volumes, blockchain networks supporting NFTs have also seen a drop in sales volume. CryptoSlam reports that only two of the 12 networks have seen gains in the last 24 hours.<\/span><\/p>\n

Flow<\/span><\/a> and Arbitrum had 20% and 538% gains, respectively. The rest, which includes <\/span>Ethereum<\/span><\/a>, <\/span>Solana<\/span><\/a>, <\/span>Avalanche<\/span><\/a>, <\/span>Cronos<\/span><\/a>, BSC, and the rest reported losses.<\/span><\/p>\n

However, this drop in trading volume isn't necessarily a cause for alarm. Given the impressive performance of NFT in January, experts believe that a pullback is only appropriate.<\/span><\/p>\n

NFT searches on Google drops too<\/strong><\/h2>\n

But there's still a good cause for concern given that interest in NFTs has also waned. A look at <\/span>Google trends<\/span><\/a> shows that the search for NFTs has also reduced. Compared to the peaks of late January, the search volume for NFT dropped by 60 – 70%.<\/span><\/p>\n

Most of the interest in NFTs appears to be coming from the US out of the 61 countries monitored. On the other end of the list is Japan.<\/span><\/p>\n

Explaining the dwindling sales\u00a0<\/strong><\/h2>\n

Although there's no specific reason for the reduced interest and trading volume of NFTs, many factors could be at work. The <\/span>vulnerability<\/span><\/a> of the number one NFT marketplace, <\/span>OpenSea<\/span><\/a>, might have dampened the interest of some potential investors.<\/span><\/p>\n

Beyond that, Russia's recent invasion of Ukraine<\/span><\/a> has put cryptocurrencies in the spotlight once again. With global tensions, more attention seems to be on use cases related to digital payments, store of value, and fundraising.<\/p>\n

While there might be a drop in volume, NFTs are still selling for a huge amount. In the past week<\/span><\/a>, the list of top-selling NFTs has been mostly made up of Bored Apes and CryptoPunks.<\/p>\n

But there are still some new entrants, such as the Giovanna Amati Tribute collection, which sold 9 NFTs at an average price of $20.9 million. The collection, a tribute to the female driver, contains only 7 NFTs. The highest sold for $28.22 million 3 days ago.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

It has been a few rollercoaster months for the Non-fungible sector, but it appears the hype has reduced a little.\u00a0 Data from CryptoSlam revealed that the number of unique NFT buyers for February was 796,009, down by 12% from its January record. This marks the first time that buyers will be below 800,000 since October […]<\/p>\n","protected":false},"author":720,"featured_media":222780,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76232],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"\nNFT buyers drop to lows last seen five months ago<\/title>\n<meta name=\"description\" content=\"Available data from CryptoSlam shows that the number of NFT buyers dropped in February to a five months low.\" \/>\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\/nft-buyers-drop-to-lows-last-seen-five-months-ago\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NFT buyers drop to lows last seen five months ago\" \/>\n<meta property=\"og:description\" content=\"Available data from CryptoSlam shows that the number of NFT buyers dropped in February to a five months low.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/nft-buyers-drop-to-lows-last-seen-five-months-ago\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-04T03:00:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-03T20:53:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/03\/nft-buyers-drop-.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=\"Oluwapelumi Adejumo\" \/>\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=\"Oluwapelumi Adejumo\" \/>\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\/nft-buyers-drop-to-lows-last-seen-five-months-ago\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/nft-buyers-drop-to-lows-last-seen-five-months-ago\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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