Non-fungible token (NFT) sales volume fell to $91.96 million in the first week of September, marking the lowest weekly figure since mid-June, according to data from NFT tracker CryptoSlam.
The decline comes after a period of strong momentum in July and August, when weekly NFT sales consistently exceeded $115 million. From July 21 to 27, digital collectibles saw $170 million in weekly sales, the third-highest weekly performance of the year, trailing only the mid-January peak above $170 million.
The recent slowdown brings NFT sales back to levels last seen between June 16 and 22, when weekly sales hit $90 million.
Unique NFT Buyers Drop 58% Since Mid-June
While mid-June saw a sales low, the number of unique buyers remained high at 487,264, indicating sustained collector interest despite lower average sale prices of $57.
From September 1 to 7, unique NFT buyers fell to 199,821, a 58% drop from the mid-June peak. Unique sellers also declined to 145,877 last week, down 43% from 258,803 in June.
Alongside the shrinking number of participants, average NFT sale prices have fallen. In August, the average sale value stayed above $104 before dropping to $82 in the final week of the month. In the first week of September, it further declined to $72—a 30% drop in just two weeks.
Despite lower volumes, overall transaction counts remained relatively high at 1.27 million, indicating continued trading activity, albeit in smaller transactions.
NFT Adoption Fueled Strong Sales in July and August
According to DappRadar analyst Sara Gherghelas, strong NFT sales over the summer were driven by growing adoption. She cited the launch of a permanent NFT art gallery in Ibiza, showcasing works from artists like Beeple and Mad Dog Jones, as a notable example.
Another contributing factor was Base, Coinbase’s layer-2 network, which in August became the third-largest blockchain by 30-day transaction volume.
