The latest data from CryptoSlam’s NFT tracker shows that NFTs had a monthly sales volume of $374 million in August, marking the lowest monthly sales of the year and continuing a downward trend.
This is in stark contrast to the beginning of the year when NFTs reached a monthly sales volume of $1.6 billion in March.
The drop in August represents a significant 76% decline from the record high. NFTs had a successful first quarter in 2024, reaching a total sales volume of $4.1 billion.
However, this could not be sustained in the second quarter, which saw a significant decrease of 45% with total volume dropping to $2.24 billion.
