NFT Sale Dropped by 88% Shows Google Trends

The non-fungible token (NFT) sale at the end of January this year, ran down in $4.77 billion. Also, the NFT sales have dropped off month after month since then. In the previous month, $549.82 Million in NFT sales took place which shows monthly NFT sales are more than 88% down than they were in January.

NFT Sale

Moreover, in Google Trends the search term “NFT” reached the highest score last January, with a score of 100. On the other hand, the last week score of September was 12, which is also 88% lower in terms of interest.

As per the GT database it was the first time the search term tapped this region, except for today when the score is nearly 88% lower with a score of 12 during the week of October 2 through October 8, 2022.

It can be seen that Non-fungible tokens (NFTs) technology were very famous at the end of 2021 and during the first month of 2022. While, in terms of Google Trends data (GT), worldwide the term “NFT” scored the highest search query can get on the GT database, which is 100.

Additionally, on October 10, 2022 China is the most active region as per the GT metrics. The country is followed by Hong Kong, Singapore, Nigeria, and Taiwan.

The NFT Sales dropped since January as well, as records show that NFT sales were just above the half-billion mark or nearly $549.82 million. The number is almost 88.49% lower than the $4.77 billion in NFT sales recorded eight months ago.

In May 2022 the NFT sales marked above the $1 billion mark and also that month $3.18 billion in NFT sales were recorded. The following month was a significant slide down to $879 million and in July, NFT sales noted $682 million. August sales dropped lower after $633 million in NFT sales were recorded that month, and September’s sales are 13.27% lower.

As yet, the first week of October 2022 marked $105.22 million in NFT sales via 191,175 unique buyers. The 30-day metrics shows that the top NFT collection in terms of sales was Bored Ape Yacht Club (BAYC) as the collection printed $30,964,305 in sales last month.

The top-five most expensive NFTs sold during the last 30 days stem from Yuga Labs’ associated NFT collections like the Bored Ape Yacht Club and Otherdeeds. The most expensive NFT sold within the past 30 days was Bored Ape #6148 for $1.09 Million and the second most expensive NFT sold was Bored Ape #8345 which sold for $1.02 Million.

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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