May was the last month that NFT sales printed above the $1 billion mark and that month $3.18 billion in NFT sales were recorded

Non-fungible token (NFT) technology was very popular at the end of 2021 and during the first month of 2022. In fact, in terms of Google Trends data (GT), worldwide the term ‘NFT’ scored the highest score a search query can get on the GT database, which is 100.

In fact, it was the first time the search term tapped this region according to the GT database, but today the score is 88% lower with a score of 12 during the week of September 25 through October 1, 2022. Today, China is the most active region according to GT metrics and the country is followed by Hong Kong, Singapore, Nigeria, and Taiwan.

Sales have slid since January as well, as records show that NFT sales were just above the half-billion mark or approximately $549.82 million. The number is approximately 88.49% lower than the $4.77 billion in NFT sales recorded eight months ago.

May was the last month that NFT sales printed above the $1 billion mark and that month $3.18 billion in NFT sales were recorded. The following month was a significant slide down to $879 million and in July, NFT sales saw $682 million. August sales slid lower after $633 million in NFT sales were recorded that month, and September’s sales are 13.27% lower.

So far, the first week of October 2022 has seen $105.22 million in NFT sales via 191,175 unique buyers. 30-day metrics indicate that the top NFT collection in terms of sales was Bored Ape Yacht Club (BAYC) as the collection printed $30,964,305 in sales last month.

However, that’s 37.49% lower than the sales BAYC recorded the month prior. Statistics aggregated by cryptoslam.io show the project QQL Mint Pass has seen $27.80 million in sales this month and Cryptopunks captured $23.49 million.

The generative art NFT project with artwork by Tyler Hobbs and Dandelion Wist Mané is a new collection with no prior market data, but Cryptopunks’ $23.49 million in NFT sales are up ​​12.27% higher than the 30 days prior.

Four specific projects saw three-digit gains this past month compared to last month’s NFT sales data which include Renga, Gods Unchained, Ethereum Name Service (ENS), and NFL All Day, respectively. During the past month, most of the sales volume derived from the Ethereum blockchain as it recorded $345,633,653 in sales.