NFT Sales Fell 13% To $732M In April – Will May Bring Back An Uptrend?

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Despite the recent regulatory pressure and extended crypto bear market, the NFT market has remained a multi-million market, attracting a trading sales volume of over $732 million in April. However, the NFT market fell 13% in April from the previous month.

The NFT Market Fell 13% In April

According to CryptoSlam, the non-fungible token market plunged slightly in April, amassing a trading sales volume of $732 million. The NFT market showcased strong resilience amid the recent general crypto bear market, which continues holding the flagship crypto “Bitcoin” from breaking the $30,000 level. Bitcoin is taking a breather at around $28,500.

Ethereum-based NFTs dominated the largest market share, attracting a trading sales volume of $481 million in the past 30 days. During this period, Ethereum-based NFTs have dropped more than 20%. Solana NFTs emerged second, amassing $85 million, while Polygon NFTs garnered $47 million.

Immutable X NFTs came fourth, amassing a trading sales volume of over $25 million. However, Immutable X – based NFTs have fallen by 13% in the past 30 days. Other networks like Cardano, BNB Chain, and Arbitrum shared the rest of the NFT market.

NFT Buyers Grew 4.3% In April

The NFT market has experienced a sharp rise in the number of users who acquired NFTs in April. In the past 30 days, NFT buyers rose 4.3% to 725,881. Ethereum attracted the highest number of collectors, recording 46,722. Solana and Polygon, an Ethereum scaling solution, did not record any growth.

Over the same period, the number of transactions made in the NFT market has decreased by more than 24% to 5.5 million. Ethereum saw the highest number of transactions, recording over 1.3 million. Polygon and Solana followed with 1.2 million and 756,000, respectively.

Ten Top-Selling NFT Collections In April

1. Bored Ape Yacht Club NFTs

Bored Ape Yacht Club, an NFT collection from digital asset incubation studio Yuga Labs, remained the top-selling NFT collection in April. The NFT collection recorded a trading sales volume of $44 million. Bored Ape Yacht Club NFT collection has increased by 18.66% in the past 30 days.

2. Azuki NFTs

Blue-chip Azuki, an NFT collection from digital asset firm Chiru Labs, has the second most-traded NFT collection in April. The NFT collection, which features a limited edition of 10,000 anime NFTs, has recorded a trading sale volume of more than 21 million. Azuki has increased by 141% in the past 30 days.

3. Nakamigos NFTs

Nakamigos, an NFT collection from digital asset studio HiFo Labs, has recorded a trading sale volume of $20 million in the past 30 days, ranking third in April. The NFT collection, which features a fixed set of 20,000 PFPs on the Ethereum network, increased by 169 % in April.

4. Mad Lads NFTs

Mad Lads is a non-fungible token collection of 10,000 NFTs, minted on Apr 20, 2023, at 6.9 SOL. Despite its late entry into the NFT market, the NFT collection has attracted more than $19 million, ranking fourth selling NFT collection in April.

5. Mutant Ape Yacht Club NFTs

Mutant Ape Yacht Club, another NFT collection from Yuga Labs, ranks fifth in April’s top-selling NFT collections. The NFT collection, which features a limited edition of 20,000 NFTs, amassed $19 million in trading sales. The NFT collection has soared 18% in the past 30 days.

6. The Captainz

The Captainz is a collection of 9,999 utility-enabled PFPs that feature rarity-powered traits inspired by pirates, internet memes, and pop culture. In the past 30 days, the NFT collection has recorded a sales volume of $18 million, ranking sixth in April. The NFT collection increased by 82%.

7. Otherdeed For Otherside NFTs

Otherdeed is an NFT collection from Yuga Labs’ metaverse game venture, Otherside. The NFT collection has recorded a trading sales volume of $14 million, taking the seventh position in the top-selling NFTs in April. However, the NFT collection has dropped 52% in the past 30 days.

8. Blocklords Banners NFTs

Blocklords Banners, an NFT collection from the massively multiplayer role-playing game Blocklord, ranked eighth in April after attracting a trading sales volume of more than $13 million. During this period, the NFT collection pumped 82% in sales.

9. Sorare NFT Collection

Sorare, a non-fungible token collection from the popular fantasy sport cryptocurrency-based video game, Sorare, ranks ninth in our top-selling NFT collections in April. The NFT collection recorded a trading sales volume of $12 million, falling 21% in the past 30 days.

10. CryptoPunks

CryptoPunks, an NFT collection originally from Larva Labs, has recorded a trading sale volume of $11 million, closing our ten top-selling NFT list in April. The NFT collection, which features a limited edition of 10,000 NFTs, fell 60% in April.

In the past 30 days, the most expensive NFT collection was The Sandbox’ Land #21221, which sold for $1.2 million 20 days ago. Maverick Position #386 NFT collection followed, trading at $1.05 million 17 days ago. Azuki #3628 emerged third most expensive NFT collection, selling at $626,288 a few days ago.

NFT Prediction – Will May Retest An Uptrend?

The non-fungible token market is expected to retest hype in the coming weeks. Last week, Daniel Alegre, the chief executive officer of the most successful NFT startup Yuga Labs, said he believes the NFT market will flourish again. Alegre is seeking to revive NFTs through metaverse gaming and events.

In related reports, the flagship crypto “Bitcoin” is projected to begin another rap of rally shortly after getting a breakthrough in the regulation concerns. The United States is anticipated to deliver clarity in crypto regulation in the coming weeks. The proceeding will impact both Crypto and NFTs.

Launchpad Is The New Game Changer In NFTs

Launchpad is a new platform that will massively impact the non-fungible token market. The new platform will help users understand and acing the art of the Web3 ecosystem, from detailed analytics and insights to industry sentiment and relevant information.

The new NFT platform will allow its users to know which projects could be the next Bored Ape Yacht Club NFTs or CryptoPunks with substantial financial upside. Launchpad is in the first stage and has raised more than $158,000 from its token presale.