NFT Market Prediction is becoming evident that the nonfungibility token market is heading for a tough month per the latest analytical data. This decline in NFTs has been ongoing since January last year and the total trading volumes are down more than 90% from the peak volumes of last year. Here in the following article, we are going to talk about the process of the dynamic NFT space of the past month.
NFT Sales Fall 23% In October: One of the most discussed aspects of NFTs has been its potential to revolutionize the art market and NFT Market Prediction
Data revealed by CryptoSlam.io, a respectable on-chain data aggregator, indicating that the month of current presentation is registering even another drop in the NFT market. The previous month had traded 307 million dollars of NFTs, and has been shown to be a 23% decrease of the trade volume per month.
In fact, there are an obvious statistics suggesting 25% decrease in the number of non-fungible tokens collector purchases. The number of collectors reduced down to 230,498 in total. The scenario between collectors who have embraced or are considering selling is drastically different, only a 1.67% rise in the number of collectors siting their transaction from 274,040 to 287,337, Within the past month, the NFT market has generated transaction so that $7 million is accumulated inside the ecosystem.
Ethereum-affiliated NFTs stayed ahead and accounted for the highest volume of NFT trades in theřat month. During the last month, a trading sales volume of $170 million for the NFT’S Ethereum-based has been recorded. Contrary to this, when compared to the last month, the cost of Ethereum NFTs were down by 18.27% this month.
Source: CryptoSlam.io, NFT Sales By Blockchain in the past 30 days
Kind of NFTs which are based on the blockchain technology has gained the ground as the most actively traded NFTs within the current month. A volume of $37 million, a 10% increase compared to the previous month, and a major milestone in Mythos Chain NFT’s trading sales volume have been achieved by this NFT project in the past 30 days.
The third and fourth spots of the leaderboard in terms of assets accommodated on SumToken and Polygon supportive networks currently go to the Solana and Polygon NFT blocks. It is during the previous month, the team discovered that Solana based NFTs reached a sales volume of $27 million, while NFTs sold from Polygon amassed a sales total of $19 million.
Among the NFT collections traded in March, Bitcoin Ordinals, those containing Bitcoin NFTs, occupy the 5th topmost position in terms of transactional volumes. In the period of the last 30 days, this NFT collection has gone through a trading sale volume of $ 15 million. By the way this month it has gone down by 3.31% as it has compared to the last month. [NFT Market Prediction]
Top Selling NFTs In October 2023
Source: CryptoSlam.io, top selling NFTs in the past 30 days
eventhough the NFT Market Prediction are tough, let’s see some of the greatest projects
1. DMarket NFTs
DMarket – a primary release of DMarket NFT marketplace – has at the moment occupied the #1 position among the most-traded NFT collections this month. In the last month, a trading sales volume of $36 million has been accumulated for DMarket NFTs, which appreciates 10.78% when compared to its January counterpart.
2. Bored Ape Yacht Club NFTs
The pigeonhole of Bored Ape Yacht Club also collected NFT associated with Yuga Labs ends up with being the most traded one after CryptoPunks which is the blockchain art collectibles have been verified to be the second most traded NFT collection this month. The last 30 days have seen the Bored Ape Yacht Club project achieving more than triple sales at $22.7 million in comparison to October’s trading sales volume which came in at $14.7 millions, representing a 54% increase.
3. Gods Unchained NFTs
Gods Unchained, a NFT collection that is in association with the decentralized competitive card game of the same name, with a trading volume of $13 million in the last 30 days, has hit a note as the number three most-traded NFT in the past month.
4. Reign Makers NFTs
After the Rise of a nonfungible token (NFT) collection, Stemming from the fantasy sports game, DraftKings has come in 4^{th} as the most-sold NFT collection this month. Over the last 30 days, Reign Makers has transacted sales volume trade amounted to $12 million, however, there has been a 43.13% decrease in the sale in October.
5. CryptoPunks NFTs
In the latest rankings, CryptoPunks an owned-by-Yuga Labs popular NFT collection consisting of 10,000 unique pieces ranks fifth among the 5 most popular NFTs this month. In the last 30 days, the NFT trading cards collection went for $11 million in sales ,which is a rise of 43.18 % from the sales volume of the previous october.
6. Sorare NFTs
Sorare, a set of NFTs tied to a crypto-based fantasy sports game, now ranks sixth in sales this month. In the last 30 days, Sorare NFTs made $11 million in sales but dropped 12.83% from the month before.
7. Mutant Ape Yacht Club NFTs
Mutant Ape Yacht Club, by the creators of Bored Ape Yacht Club, Yuga Labs, holds the seventh spot in sales this month. These NFTs made $8.7 million in the past 30 days, up by 9% from before.
8. $SAT BRC-20 NFTs
$Sat BRC-20, an NFT set on a Bitcoin network similar to the well-known ERC-20 tokens, is the eighth top seller this month. It saw $7.8 million in sales in the last 30 days, jumping 35.27% from the previous month.
9. Winds Of Yawanawa NFTs
Winds Of Yawanawa, made by famous digital artist Refik Anadol with the Brazilian Yawanawa community, is ninth in sales. In 30 days, these new NFTs brought in $7.5 million.
10. The Captainz NFTs
The Captainz, an NFT set from a web3 venture studio with 9,999 NFTs, is tenth in sales this month. They made $7.1 million in sales, which is a 150% rise from the month before.
NFT Market Prediction for November 2023
The NFT market has grown a lot and NFT Market Prediction is so much important now a days, from small CryptoKitties deals to big digital art sales. By 2023, the NFT market turned into a multi-billion-dollar sector, drawing big investments in different areas, and the importance of NFT Market Prediction
Crypto experts expect the NFT market to keep growing soon. Statista, a data firm, thinks the global NFT market will hit $3.2 billion by 2027, up from $1.6 billion in 2023.