NFT Sales Drop 20% in the Past 7 Days

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The meme coins mania is not yet over and continues impacting other digital assets like crypto and non-fungible tokens. The meme coins obsession began sometime in April and has drawn the attention of many investors and institutions over the past few weeks.

Data compiled by Cryptosam confirms that the NFT market has plunged nearly 20%, recording a trading sales volume of $177 million in the past seven days. Ethereum NFTs dominated the NFT market past week, attracting a sales volume of $96 million.

Bitcoin NFTs distantly followed, recording a trading sales volume of $43 million. In the past seven days, Bitcoin NFTs have plunged by 36% from the past week. Solana and Mythos chain-powered NFTs followed, recording a trading sales volume of $7 million and $6 million in the past seven days.

During the same period, the number of non-fungible token buyers increased by over 64% to 390,000. The number of NFT transactions also increased by more than 1% to 1.8 million. Ethereum NFTs saw the highest number of NFT transactions.

Top NFT Collection In The Past 7 Days

Top NFT Collection Past Week: Source: Cryptoslam.io

1. Bored Ape Yacht Club

Bored Ape Yacht Club, an NFT collection from digital asset firm Yuga Labs, took the top position last week. The NFT collection, which features a fixed set of 10,000 NFTs, has recorded a sales volume of $8 million. However, the NFT collection has plunged 37% from the previous week.

2. Space Pepes NFTs

Space Pepes, a Bitcoin NFT collection based on the Pepe the Frog meme, ranks second past week. The NFT collection pumped 60% to $7.4 million. Space Pepes NFT transactions increased by more than 35% in the past seven days.

3. DMarket NFTs

DMarket is an NFT collection from the virtual metaverse game DMarket. DMarket is a virtual startup that operates a decentralized blockchain-powered marketplace for in-game items trading across any game platform. In the past seven days, DMarket has recorded a trading sales volume of $6.9 million.

4. Bitcoin Frogs NFTs

Bitcoin Frogs, a recently launched collection of 10,000 unique frog-themed NFTs, ranked third past week. In the past seven days, The NFT collection has pumped 1.6% in sales volume to $6.4 million. Nonetheless, the NFT collection has dropped by 37% in NFT buyers and 7% in NFT sellers.

5. Mutant Ape Yacht Club NFTs

Mutant Ape Yacht Club is an NFT collection from digital asset firm Yuga Labs. In the past seven days, the NFT collection has recorded a trading sales volume, closing our five top-selling NFT lists past week. The NFT collection has dropped by 38% in the number of NFT transactions.

Bored Ape Yacht Club #4980 was the most expensive NFT collection in the past week. The NFT collection sold for $970,000 earlier last week. Autoglyphs #376 was the second most costly NFT collection, trading at $283,000 two days ago.

Other NFT collections, which sold for head-scratching sum, include Bored Ape Yacht Club #3263 and Bored Ape Yacht Club #8332. The two NFT collections sold for $181,472 three days ago. Infinity Space NFT collection joined the list selling at $181,387 four days ago.

Top NFT Headlines In The Past 7 Days

Despite losing some attention and traction among investors and institutions, the non-fungible token market continues to thrive. In the past week, the NFT market recorded a number of occurrences. Some of the notable headlines included:

1. Ben.Eth Launched His Controversial $PSYOP

Ben.eth, an NFT collector and influencer, became a subject in the crypto and NFT community past week. The NFT investor entered the NFT sector in 2021 and began sharing web3 content before rapidly becoming a supporter of cryptoadz and Bored Ape Yacht Club.

The Ben Drama.

From a nobody to the most talked about figure in the space.

Here's the full story 🧵👇 pic.twitter.com/lfCq08a6zp

— Nook (@Nook_NFT) May 21, 2023

Ben.eth began chilling crypto projects like $PEPE earlier this year. Inspired by the success of the $PEPE meme coin, Ben.eth teamed up with YouTuber and NFT influencer Ben Armstrong to launch his branded crypto coin $BEN.

Ben.eth later surrendered his branded $Ben crypto coin to Bitboy and announced plans to launch his sole-owned crypto meme coin, “$PYSOP.” In just 24 hours, Ben.eth had received more than $7 million from his token presale.

Earlier last week, Ben.eth had been trending, with many crypto users accusing him of rug pull after failing to launch his controversial crypto token. Fortunately, Ben.eth surprised many investors after launching his highly anticipated $PSYOP coin.

2. Pudgy Penguin Launched NFT-Inspired Toys

Blue-chip NFT collection Pudgy Penguins launched their NFT-inspired toys last week. The NFT collection teamed with PMI Ltd. Kids’ World, an internationally recognized brand for trending children’s merchandise and toys, to launch NFT-inspired toys.

Today is the beginning of a new era for Web3.

We’re happy to announce that Pudgy Toys and Pudgy World are now available. pic.twitter.com/UKbkIAJzvS

— Pudgy Penguins (@pudgypenguins) May 18, 2023

The new toy collection featured 16 SKUs inspired by Pudgy Penguin NFTs from the original collection. The 16 NFTs were picked based on aesthetics, various characteristics, and how engaged the owner of the NFT is with the community.

3. Copium Tank Launched Its NFT Collection

On Friday past week, Copium Tank, the team behind the newly launched crypto coin on Uniswap $COPIUM, launched a new NFT collection. The NFT collection featured a fixed edition of 200 profile picture PFPs on the Ethereum network.

$COPIUM NFT Airdrop tanks trending on OpenSea! Cope yours now! pic.twitter.com/VCovXaBrgM

— $COPIUM (@COPIUMDROP) May 19, 2023

The NFT project, which is driven by humour, fellowship, and the shared experience of navigating the unpredictable crypto landscape, focuses on turning your regrets into riches and transforming past crypto mishaps into future gains. Copium Tank NFT has been trending on OpenSea past week.