Non-fungible tokens (NFTs) experienced a significant decline in sales during the month of April, with revenues dropping by 31.26% compared to March. Data shows that NFT transactions across various markets reached approximately $1.15 billion last month.
The number of NFT buyers also decreased by 51.88%, while sellers saw a reduction of 45.72% during the same period. Among the 24 blockchains that produce NFTs, Bitcoin emerged as the leader in April, generating $597.62 million in sales. However, sales of BTC-based NFTs were 4.3% lower than in March.
Ethereum NFTs suffered a significant drop in sales, plunging to $247.32 million, a decrease of 56.8% from the previous month. Solana, the third-largest blockchain in terms of monthly sales, also experienced a decline, with SOL-based NFT sales falling by 39.4% to just over $159 million.
Polygon and Mythos Chain reported sales of $54.13 million and $28.68 million, respectively, experiencing losses ranging from 4.19% to 7.46%. Despite the overall declines in the top five chains, Immutable X and Avalanche saw an increase in NFT sales in April.
According to metrics from cryptoslam.io, the most profitable collection in April was Bitcoin’s Uncategorized Ordinals, which generated $314.82 million in total sales, marking a 16.91% increase from the previous month. The Bitcoin Puppets collection followed closely, amassing $72.47 million in April, a substantial increase of 2,064.97% from March.
In addition, the Bitcoin-based WZRDs collection experienced an exponential rise of 25,796%, totaling approximately $36.47 million in 30-day sales. Nodemonkes rounded out the top five, despite a 54.38% drop from March, with $32.70 million in sales.
The highest-priced NFT sale in April was an Ethereum Cryptopunk #635, which fetched a staggering $12.4 million. BNB Chain’s Lock Deal NFT sold for $651,963, and Bitcoin Ape #2,301 commanded a price of $459,437. Solana’s Boogle #037 went for $296,113, while Flow’s Flovatar sold for $210,495.
What are your thoughts on the NFT sales recorded in April? Do you anticipate a resurgence in NFT sales this summer? Feel free to share your opinions and thoughts on this topic in the comments section below.
