According to CryptoSlam, sales of blockchain-based digital collectibles dropped sharply in May, with global sales reaching $624 million, down 54% from more than $1 billion in April 2024.
In May, NFT sales volumes on leading blockchains such as Bitcoin, Ethereum, and Solana all decreased. Bitcoin NFTs reach more than $179 million in sales in 30 days, but are down 68% compared to April.
In May, sales volumes on Ethereum and Solana decreased by 55% and 48%, respectively. Of the top 10 NFT collections, Mad Lads (Solana), CryptoPunks, and Bored Ape Yacht Club (BAYC) suffered the most losses.
BAYC had the highest decline on the list, with sales down 54%. Mad Lads showed a 44% drop, while CryptoPunks dropped 41%.
In March, popular NFT collection CryptoPunks broke record sales twice. On March 4, a rare CryptoPunk alien was sold for $16 million. This was followed by another record-breaking sale when CryptoPunk #7804 was purchased for $16.4 million on March 20.
Although overall NFT sales decreased in May, some collections still saw growth. SocialFi Fantasy Top increased significantly, pushing Blast into the list of top blockchains for NFTs. Blockchain game Immutable’s Guild of Guardians increased sales volume 69%, helping Immutable grow 23% in May. On Solana, DogeZuki collection and Solana Monkey Business grew 130% and 74% respectively.
