NFT Sales Dip 28% In August

The days when non-fungible token collections used to skyrocket into the multi-million dollar have faded, with the NFT market tumbling 30% in sales volume in August from the previous month. The market downturn has also left many floor prices slashing over 50% of their value.. In this article, we shall explore the NFT market performance in August and what collectors and investors should expect in the coming September. Data compiled by CryptoSlam.io, an on-chain data aggregator, indicates that the global non-fungible token trading sales volume have tumbled in recent week. In the past 30 days, the NFT market has flipped 30% to 418 million, representing 28.77% from the previous month. Non-fungible tokens hosted on Ethereum, the largest blockchain for NFTs, have been the most traded NFTs in August. In the past 30 days, Ethereum-based NFTs recorded a trading sales volume of $246 million. Nonetheless, Ethereum NFTs have dipped 26% in sales volume from the previous month. Digital collectibles hosted on Polygon, an Ethereum scaling network, have been the second most traded NFT in August, recording a trading sales volume of $36 million.