NFT Sales Fall 46% In June - Here’s The NFT Market Prediction For July 2024

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The non-fungible token market sales have tanked again this month, following the footprints of its parent crypto market, which has also lost its initial traction in recent days. In this article, we shall assess in depth the full market health of the non-fungible token market this month:

NFT Sales Fall 46% In June 2024

Data compiled by cryptoslam.io, an on-chain crypto market data aggregator and a multi-chain non-fungible token explorer, indicates that the non-fungible token market has fallen again in trading sales this month. Last month, the NFT market sales fell 54%, marking the lowest sales since October 2023.

The NFT market has shrunk again in trading sales volume this month, with many blue-ship non-fungible token collections shielding more than 20% of the floor price value. In the past 30 days, the NFT market has amassed a trading sales volume of $478 million, representing a 46% plunge from the past month.

Ethereum, the blockchain network powering Ether crypto and renowned in the NFT market for powering the majority of blue-chip non-fungible token collections, has been this month’s most traded blockchain network in the NFT ecosystem. In the past 30 days, the Ethereum-based non-fungible token collections have amassed a trading sales volume of $148 million. Nonetheless, the Ethereum NFT trading sales volume has further reduced by 49% from the past month.

Bitcoin, the same blockchain network powering the flagship crypto, Bitcoin, and renowned in the NFT market for hosting Runes and Ordinals collections, has been this month’s second most-traded blockchain network in the NFT ecosystem. In the past 30 days, the Bitcoin-based non-fungible token collections have amassed a trading sales volume of $117 million, crawling behind Ethereum. However, the volume of Bitcoin NFT trading sales has reduced by 47% this month.

Non-fungible tokens hosted on the Polygon, an Ethereum scaling blockchain network, have been this month’s third most-traded NFT collections, outpacing dominant Solana products. In the past 30 days, the Polygon-based NFT collections have amassed a trading sales volume of $80 million. During this time, Polygon NFT trading sales volume has surged 3.50% from the past month.

Solana, a public, open-source blockchain that supports smart contracts, including non-fungible tokens and a variety of decentralized applications and Mythos Chain, has been this month’s fourth and fifth most-traded blockchain networks in the NFT ecosystem. In the past 30 days, the Solana-based NFT collections have amassed a trading sales volume of $69 million, while Mythos Chain-based NFT collections have recorded a trading sales volume of $20 million. During this time, the Solana NFT trading sales volume has plunged 42%, while Mythos Chain NFT sales volume has plunged 20% from the past month.

Despite the fall in trading sales volume, the total number of crypto traders that have bought non-fungible tokens has increased this month. In the past 30 days, the NFT market has seen more than 1.2 million purchasing different non-fungible tokens, representing a 1701% spike from the past month.

Top Selling NFTs In The Past 30 Days

1. $Pizza BRC-20 NFT Collection

$Pizza, a new non-fungible token collection created on the Bitcoin blockchain network using the BRC-20 protocol, has been this month’s top most-selling non-fungible token collection. In the past 30 days, the $Pizza BRC-20 NFT collection has recorded a trading sales volume of $29 million.

2. DMarket NFT Collection

DMarket, a non-fungible token collection from the virtual asset market platform DMarket hosted on the Mythos Chain network, has been this month’s second most-selling NFT collection. In the past 30 days, the DMarket NFT collection has recorded a trading sales volume of $18 million. During this time, the DMarket NFT trading sales volume has plunged 21% from the past month.

3. CryptoPunks NFT Collection

CryptoPunks, a non-fungible token collection previously from the digital asset firm Larva Labs but now managed by the digital asset firm Yuga Labs and features a limited set of 10,000 NFTs hosted on the Ethereum blockchain network, has been this month’s second most-selling NFT collection. In the past 30 days, the CryptoPunks NFT collections have recorded a trading sales volume of $16 million. The Punk NFT trading sales have surged 8% in the past month.

4. Bored Ape Yacht Club NFT Collection

Bored Ape Yacht Club, another non-fungible token collection created and managed by the digital asset firm Yuga Labs, featuring a fixed set of 10,000 NFTs hosted on the Ethereum blockchain network, has been this month’s fourth most-selling NFT collection. In the past 30 days, the Bored Ape Yacht Club NFT collection has amassed trading sales volume of $14 million, up 27% from the past month.

5. NodeMonkes NFT Collection

NodeMonkes, a non-fungible token featuring a limited edition of 10,000 unique Bitcoin-powered NFTs leveraging the ordinal protocol, has been this month’s fifth most-selling NFT collection. In the past 30 days, the NodeMonkes NFT collection has attracted a trading sales volume of $12.7 million. During this time, the NodeMonkes NFT trading sales volume has plunged 41% from the past month.

6. Bitcoin Puppets NFT Collection

Bitcoin Puppets, another non-fungible token collection created on the Bitcoin blockchain network using the Ordinal protocol, has been this month’s sixth most-selling NFT collection. In the past 30 days, the Bitcoin Puppets NFT collection has raised a trading sales volume of $12.6 million. During this period, the volume of Bitcoin Puppets NFT trading sales has reduced by 41% from the past month.

7. DogeZuki NFT Collection

DogeZuki, a non-fungible token collection featuring a fixed supply of 2,800 Shiba Inu-inspired digital items hosted on the Solana blockchain network, has been this month’s seventh most-selling NFT collection. In the past 30 days, the DogeZuki NFT collection has raised a trading sales volume of $10 million. The DogeZuki NFT sales volume has soared 2.30% from the past month.

8. Pudgy Penguins NFT Collection

Pudgy Penguins, a non-fungible token created by the toy brand Pudgy Penguins featuring a fixed supply of 8,888 NFTs hosted on the Ethereum blockchain network, has been this month’s eighth most-selling NFT collection. In the past 30 days, the Pudgy Penguins non-fungible token collection has raised a sales volume of $9.6 million. During this period, the Pudgy Penguins NFT sales volume has increased by 61% from the past month.

9. Guild Of Guardians NFT Collection

Guild of Guardians, a non-fungible token collection from a mobile role-playing game, Guild of Guardians, has been this month’s ninth most-selling NFT collection. In the past 30 days, the Guild of Guardians NFT collection has amassed a trading sales volume of $9.3 million. During this time, the Guild of Guardians NFT trading sales volume has fallen 8% from the past month.

10. Ordinal Maxi Biz NFT Collection

Ordinal Maxi Biz, a non-fungible token collection featuring a limited set of 2,100 hand-drawn sketches by artist Tony Tafuro hosted on the Bitcoin blockchain network, has been this month’s tenth most-selling NFT collection. In the past 30 days, the Ordinal Maxi Biz NFT collection has recorded a trading sales volume of $8.8 million, closing our ten top-selling NFT collections this month.

Top NFT Collectible Sales In The Past 30 Days

CryptoPunk #627 was the most expensive NFT collection sold this month, selling for nearly $1 million just five days ago. Punk #50 was the second most expensive NFT collection sold this month, selling for $306,725 six days ago. Cardano NFT collection was the third most expensive NFT collection, selling for $219,102 twenty-five days ago.

The NFT Market Prediction For July 2024

NFTs are poised for a potential recovery in 2024, with the odds still set high on this burgeoning non-fungible token market. Earlier this year, Statista, a crypto analytic firm, projected the Revenue in the NFT market to reach $2.4 billion in 2024. The firm expects the NFT revenue to grow at an annual growth rate of 9.10%, resulting in a projected total amount of $3.4 billion by 2028.