Blast

Guild of Guardians

Solana

Immutable

Blockchain-based digital collectibles experienced a slowdown in May despite showing an uptick in April 2024, according to data tracker CryptoSlam.
On May 31, the nonfungible token (NFT) data platform <a href="https://www.cryptoslam.io/nftglobal?headerPeriod=30d&amp;tab=collection_rankings&amp;timeFrame=year&amp;period=1d" target="_blank" rel="noopener noreferrer nofollow">showed</a> that in the last 30 days, NFTs had a global sales volume of $624 million. This represents a 54% drop in overall NFT sales volume compared to April, when NFTs had a volume of over $1 billion.&nbsp;
<h2 id="bitcoin-ethereum-and-solana-nfts-down">Bitcoin, Ethereum and Solana NFTs down</h2>
Among the top blockchains used for <a href="https://cointelegraph.com/learn/what-are-nfts-and-why-are-they-revolutionizing-the-art-world" rel="noopener noreferrer nofollow">nonfungible tokens</a>, Bitcoin, Ethereum and Solana showed a decline in sales volume in May.
While Bitcoin-based NFTs gained over $179 million in sales volume in the last 30 days, they also had one of the highest declines in sales volume.
According to CryptoSlam, Bitcoin NFT sales volume is down by 68% compared to April.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-05/c887807c-aa3d-4513-8cf2-9b3a7649c26e.jpg">
 <figcaption style="text-align: center;">Top 10 blockchains by NFT sales volume. Source: CryptoSlam
 </figcaption>
</figure>
Meanwhile, the second and third-ranked blockchains by sales volume, Ethereum and Solana, also experienced downward trends in May. Data showed that the blockchains showed a 55% and 48% decline in sales volume in May.
In the top 10 NFT collections, Solana-based Mad Lads and Ethereum-based collections CryptoPunks and Bored Ape Yacht Club (BAYC) were the biggest losers.
BAYC showed the highest decrease in the list, with its sales volume declining by 54%. Mad Lads showed a 44% decline, while CryptoPunks experienced a 41% drop.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-05/1875fd15-b379-420a-8bb3-a536e167a4df.jpg">
 <figcaption style="text-align: center;">Top 10 NFT collections by sales volume. Source: CryptoSlam
 </figcaption>
</figure>
In March, the popular NFT collection CryptoPunks broke its record sales twice. On March 4, a rare alien CryptoPunk was <a href="https://cointelegraph.com/news/rare-alien-cryptopunk-nft-sells-16-m-ethereum" rel="noopener noreferrer nofollow">sold for $16 million</a>. This was followed by another record-breaking sale when CryptoPunk #7804 was bought for $16.4 million on March 20.
Despite the uptick in March, the collection only recorded $15 million in overall sales volume in May.
Related: <a href="https://cointelegraph.com/news/ronaldo-binance-new-career-nft-collection" rel="noopener noreferrer nofollow">Cristiano Ronaldo unveils NFT series with Binance capturing career highlights</a>
<h2 id="going-against-the-trend">Going against the trend</h2>
While the overall NFT sales volume decreased in May, some collections experienced growth. The social finance (SocialFi) project Fantasy Top <a href="https://cointelegraph.com/news/crypto-degens-hungry-big-socialfi-breakthrough-k33-research" rel="noopener noreferrer nofollow">experienced significant growth</a> in May, pushing Blast into the list of top blockchains for NFTs.
Apart from Fantasy Top, the Immutable-based blockchain game Guild of Guardians showed a 69% increase in sales volume, driving the blockchain’s overall volume. According to CryptoSlam, Immutable showed a 23% growth in sales volume in May.
On Solana, the DogeZuki Collection and Solana Monkey Business were the biggest gainers, showing 130% and 74% growth, respectively.
Magazine: <a href="https://cointelegraph.com/magazine/bitcoin-mt-gox-binance-hong-kong-crypto-exchanges-asia-express/" rel="noopener noreferrer nofollow">Mt Gox not dumping Bitcoin just yet, Hong Kong boots out crypto exchanges: Asia Express</a>

NFT sales volume tumbles 54% in May: CryptoSlam

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