NFT Market Activity Drops, But New Buyers and Sellers Emerge, Signaling a Complex Phase

The non-fungible token (NFT) market experienced a remarkable drop in activity over the past month, with significant dips across various metrics.

The non-fungible token (NFT) market saw a significant drop in activity over the past month, with major dips across several key metrics.

However, despite the overall market downturn, several NFT collections stood out with impressive sales performance.

Here’s a closer look at the top five blockchain and NFT collections in June.

Top blockchains by NFT sales volume

The total NFT sales volume across the top five blockchains amounted to $1.8 billion, indicating a 63.3% decrease compared to the previous month.

Ethereum remained the dominant blockchain, accounting for 68.3% of the total sales volume with $1.2 billion in sales.

Despite leading the pack, Ethereum’s sales volume dropped by 55.7%.

Flow ranked second with $208.3 million in sales, followed by Polygon with $138.8 million, Bitcoin with $106.9 million and Cardano with $68.1 million.

Interestingly, Bitcoin NFTs saw a 10.2% increase in sales volume.

Top NFT collections in June

Despite the general market downturn, several NFT collections managed to achieve remarkable sales figures.

Here are the top five NFT collections for the month of June:

$PIZZA BRC-20 NFTs on Bitcoin led the pack with an impressive $29.1 million in sales from over 43,000 transactions. The NFT collection, which consists of 100,000 randomly generated pizzas, each representing a unique slice of a whole pizza pie, saw a massive surge in popularity.

DMarket on Mythos followed with $18.9 million in sales from nearly 830,000 transactions. However, the collection’s earnings were 21.8% lower than the previous month.

CryptoPunks on Ethereum continued to be a strong performer, generating $16,405,442 in sales from just 141 transactions. The collection remained highly sought-after by NFT enthusiasts.

The Bored Ape Yacht Club (BAYC) also maintained its popularity, with sales jumping 6.54% to $13 million. The average price for a BAYC NFT stood at 100 ETH.

Another Bitcoin collection, NodeMonkes, rounded out the top five with $12.7 million in sales from 929 transactions. The collection, which features 10,000 unique generative NFT monks meditating on Bitcoin Ordinals inscriptions, saw a strong demand throughout June.

Notable performers and underachievers

Polygon’s OKX NFT Creation enjoyed the highest percentage growth over the last 30 days, with its sales volume going up a whopping 132,509.44% to hit $2.4 million.

The collection, which allows users to create their own NFTs on Polygon, saw a surge in activity, thanks to a new batch of 100 generative NFTs being dropped by the platform.

Conversely, the worst-performing NFT collection in June was Blast’s Fantasy Top, which registered an 83.33 drop in sales volume, closely followed by DeGods on Ethereum, whose sales plummeted 82.9%.

Top-selling NFTs of the month

In terms of top-priced NFT collectibles, here are the notable sales that occurred during June:

CryptoPunks #627 sold for a staggering $836,149 on Ethereum, making it the highest sale of the month. The NFT, part of the Alien sub-collection, features a blue-skinned punk with a spiky mohawk and a third eye.

Punk #50 from Bitcoin’s Ordinal Punks collection fetched $306,725, becoming the best-selling Ordinal NFT. The NFT features a close-up of a punk with a cigarette in its mouth.

A Cardano NFT sold for a record-breaking $219,102, setting a new high for an NFT on the blockchain. The NFT, titled “The Journey,” is a generative artwork that depicts a figure walking through a surreal landscape.

Solana’s Mad Lads #4575 was acquired for $110,917, making it the highest-priced Solana NFT. The NFT features a stylized illustration of a young boy with a mischievous expression.

TTAvatars #1280003 on Polygon changed hands for $100,500, becoming the best-selling NFT from the collection. The NFT showcases a vibrant and detailed avatar with a unique costume and accessories.

Top fan tokens by sales

The fan token market also saw substantial activity, with Chiliz’s AS Roma (ASR) token leading the pack once again. Here are the top five fan

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