KEY POINTS
May has been a challenging month for non-fungible token (NFT) sales, showing a nearly 50% drop compared to the previous month.
Data from CryptoSlam reveals that May’s NFT sales amounted to just over $625 million, marking a 46% decrease from April’s total of over $1.15 billion.
Bitcoin led the blockchain sales in May with $190 million, but this was still its lowest monthly total for the year and a sharp 69% drop from April’s $608 million.
Ethereum came in second with $165 million in sales, also marking its lowest monthly total for 2024. Solana ranked third with $93 million, similarly recording its worst month of the year.
Notable NFT sales in the past 30 days included CryptoPunk 741, which sold for $792,046 twenty days ago; an ORDI BRC-20 NFT that went for $681,497 seventeen days ago; and Boogle #084, which sold for $228,957 seven days ago.
The top-performing NFT collections over the last month included Fantasy Top, which made headlines early in the month by paying out $1.25 million to influencers turned into NFT cards. Bitcoin-based NodeMonkes and CryptoPunks also performed well.
In particular, CryptoPunks saw significant activity, with daily sales nearing $1.4 million at the start of May. During the month, three CryptoPunks — #5687, #6526, and #7323 — sold for over $110,000 each. However, these figures are far from the peak sales in March, when two Alien Punks — #3100 and #7804 — each sold for over $16 million.
May was the worst month for NFT sales in 2024, following a downward trend seen in April. Last month saw a significant decline in Ethereum-based NFT sales, dropping to $240 million from March’s $489 million, while Bitcoin maintained over $600 million in sales.
