The NFT market saw a significant decrease in activity in June, as reported by Crypto Slam data. Global NFT sales volume dropped by 47.22% to $476.3 million. Despite this decline, the number of NFT buyers surged by an impressive 1700.83% to 1.259 million, while the number of sellers also increased by 1059.64% to 744,965. However, NFT transactions fell by 51.4% month-over-month.
Ethereum (ETH) continued to dominate the market in terms of sales volume, with over $147.5 million in NFT sales, including $123 million from wash trading. Bitcoin (BTC) followed closely behind with more than $117 million in sales, despite a nearly 48% drop. Polygon (MATIC) and Solana (SOL) also showed growth in their NFT sales volume, with Mythos Chain (MYTH) seeing $20.1 million in sales.
In terms of NFT collections, $PIZZA BRC-20 NFTs on Bitcoin led the pack with $29.1 million in sales. DMarket on Mythos and CryptoPunks on Ethereum were also top performers in June. Polygon’s OKX NFT Creation saw the highest percentage growth, while Blast’s Fantasy Top and DeGods on Ethereum were the worst-performing collections.
Top-selling NFTs of the month included CryptoPunks #627 selling for $836,149 on Ethereum and Punk #50 from Bitcoin’s Ordinal Punks collection fetching $306,725. The fan token market also saw significant activity, with AS Roma (ASR) leading in sales on the Chiliz blockchain.
The market outlook for NFTs is complex, with declining sales volume but a growing number of buyers and sellers. This trend may indicate a shift towards more affordable NFTs or a maturing market that is moving towards broader engagement. Platforms and collections that adapt to this changing landscape by offering diverse and accessible options may emerge as the new leaders in the NFT space.