NFT Sales Sink 40% In August – Will NFTs Bounce Back In September 2024?

The global non-fungible token market is still in deep crisis, with floor prices and trading sales volume still far from their initial record highs. Despite the recent claims that the non-fungible token market is back on hype, its trading sales volume has tanked again this month. The NFT market has recorded $380 million in August 2024, down 40% from July 2024.

NFT Sales Tank 40% In August 2024

Data compiled by CryptoSlam.io, a renowned non-fungible token collection explorer backed by the crypto billionaire investor Mark Cuban, shows that the global non-fungible token market has tanked again in sales this month despite showcasing some signs of recovery in recent weeks. In the past 30 days, the global NFT market has raised a trading sales volume of $380 million, down 40% from the past month.

Ethereum, the same blockchain network powering Ethereum (ETH) and renowned in the NFT market for hosting most blue-chip non-fungible token collections, has been the most traded blockchain network in the NFT market this month. In the past 30 days, the Ethereum-based NFT collections have amassed a trading sales volume of $131 million, down 36% from the past month.

Solana, a public, open-source blockchain that supports smart contracts, including non-fungible tokens and various decentralized applications, has been this month’s second most-traded NFT blockchain network. In the past 30 days, the Solana-based NFT collections have recorded a trading sales volume of $79 million. During this time, Solana NFT sales have plunged by 35% from the past month.

Bitcoin, the blockchain network hosting the Bitcoin (BTC) and renowned in the global NFT market for powering Ordinals Runes and BRC-20 non-fungible token collections, has been this month’s third most-traded blockchain network in the NFT ecosystem. In the past 30 days, the Bitcoin-based NFT collections have amassed a sales volume of $58 million. During this period, Bitcoin NFT trading sales volume has fallen by 49% from the past month.

Polygon, a renowned layer two scaling solution blockchain network that runs alongside the main Ethereum blockchain, has been this month’s fourth most-traded blockchain network in the NFT market. In the past 30 days, the Polygon-based NFTs have recorded a trading sales volume of $36 million. During this time, Polygon NFT sales have plunged by 51% from the past month.

Mythos Chain, another layer two blockchain network leveraging the Ethereum Virtual Machine (EVM) for its compatibility and functionality, was August’s fifth most-traded blockchain network in the NFT market. In the past 30 days, the Mythos-based NFT collections have raised a trading sales volume of $20 million. Unlike Ethereum, Bitcoin, Polygon and Solana, Mythos Chan NFT trading sales volume has surged by 14.31% from the past month.

Top Selling NFTs In August 2024

1. DMarket NFT Collection

DMarket, a non-fungible token collection from the virtual asset market platform DMarket hosted on the Mythos Chain network, has been the most-selling NFT collection in August. In the past 30 days, the DMarket NFT collection has attracted a trading sales volume of $20 million. During this time, the DMarket NFT trading volume has surged by 17% from the past month.

2. CryptoPunks NFT Collection

CryptoPunks, a non-fungible token collection featuring a limited of 10,000 Ethereum NFTs previously created by Larva Labs and currently managed by the Bored Ape creator Yuga Labs, was the second most-selling NFT collection in August. In the past 30 days, the Punks NFT collection has amassed a trading sales volume of $18 million. The Punk NFT sales volume has surged by 150% this week from the past month.

3. Guild Of Guardians NFT Collection

Guild of Guardians, a non-fungible token collection from Guild of Guardians, a renowned role-playing mobile game that allows players to compete with a team of heroes through challenging dungeons to collect resources, has been the third most-selling NFT collection in August. In the past 30 days, the NFT collection has amassed a trading sales volume of $14.6 million. During this time, the Guild of Guardians NFT sales volume has surged by 133% from the past month.

4. Sorare NFT Collection

Sorare, a non-fungible token collection from Sorare, the fantasy sport crypto-based video game on the Ethereum network, was the sixth most-selling NFT series in August. In the past 30 days, the Sorare NFT collection has recorded a trading sales volume of $14 million. During this period, the Sorare NFT trading sales volume has surged by 53% from the past month.

5. Bored Ape Yacht Club NFT Collection

Bored Ape Yacht Club, a non-fungible token series from the digital asset firm Yuga Labs that features a fixed edition of 10,000 NFTs hosted on the Ethereum blockchain network, has been the fifth most-selling NFT collection in August. In the past 30 days, the Bored Ape Yacht Club NFT collection has amassed a trading sales volume of $11 million. During this time, the Bored Ape NFT trading sales volume has surged by 25% from the past month.

6. DogeZuki NFT Collection

DogeZuki, a recently launched non-fungible token collection featuring a limited edition of 2,800 Shiba Inu dogs-inspired NFTs hosted on the Solana blockchain network, has been the sixth most-selling NFT collection in August. In the past 30 days, the DogeZuki NFT collection has recorded a trading sales volume of $11 million. During this period, the trading sales volume for the DogeZuki NFT collection has plunged by 18% from the past month.

7. Solana Monkey Business NFT Collection

Solana Monkey Business, a non-fungible token collection featuring a fixed supply of 5,000 unique 24×24 pixilated monkeys randomly generated and stored on the Solana blockchain network, has been the seventh most-selling NFT collection in August. In the past 30 days, the Solana Monkey Business NFT collection has amassed a trading sales volume of $9.1 million. During this period, the Solana Monkey Business NFT sales volume has plunged 29% from the past month.

8. Pudgy Penguins NFT Collection

Pudgy Penguins, a non-fungible token collection from the digital asset firm Igloo Inc. featuring a limited edition of 8,888 NFTs hosted on the Ethereum blockchain network, has been the ninth most-selling NFT collection in August. In the past 30 days, the Pudgy Penguins NFT collection has amassed a trading sales volume of $8.6 million. During this period, the Pudgy Penguins NFT sales volume has surged by 9.01% from the past month.

9. NodeMonkes NFT Collection

NodeMonkes, a non-fungible token collection featuring a limited edition of 10,000 NFTs created on the Bitcoin blockchain network using Satoshi Nakamoto’s ordinal protocol, has been the ninth most-selling NFT collection in August. In the past 30 days, the NodeMonkes NFT series collection has recorded a sales volume of $7.6 million. During this period, the volume of NodeMonkes NFT trading sales plunged by 15.60% from the past month.

10. DeGods NFT Collection

DeGods, a non-fungible token from the digital asset firm Dust Labs featuring a limited set of 4,624 NFTs hosted on the Solana blockchain network, has been the tenth most-selling NFT collection in August. In the past 30 days, the Degods NFT collection has attracted a trading sales volume of $7.2 million. During this time, the DeGods NFT sales volume has surged 342% from the past month.

Top NFT Collectible Sales Made In August

The Uncategorized Ordinal has been the most costly NFT collection sold this month, selling for $2.4 million fourteen days ago. Bored Ape Yacht Club #2579 has been the second most expensive NFT sold this month, selling for $342,542 sixteen days ago. gETH Locked #158 has been the third most-costly NFT collection sold this month, selling for $256,513 two days ago. Boogle # 061 has been the fourth costly NFT collection sold this month, selling for $201,200 eleven days ago.

NFT Market Prediction For September 2024

Despite the recent struggle with financial regulators, among other factors, the future of the non-fungible token market still looks promising, with projections indicating that the market will see an increase in growth in September 2024. The non-fungible token market size is estimated to reach $6.83 billion in 2024 at a growth rate of 34.5% from 2024 to 2030.