World non-fungible token (NFT) gross sales totaled US$604 million in Might, the bottom month-to-month efficiency since final October and the primary month this yr with gross sales under US$1 billion.
Ethereum, the world’s main blockchain for NFT gross sales with a historic gross sales quantity of over US$43 billion, had US$164 million in gross sales final month, its lowest since September.
The community should look even additional again in time to match its newest variety of distinctive patrons.
Final month, Ethereum had 56,914 distinctive patrons, in accordance with CryptoSlam knowledge, the blockchain’s lowest NFT purchaser rely since June 2021.
The NFT gross sales stoop was additionally obvious on the Bitcoin community, which had US$160 million in month-to-month gross sales, the bottom since October. It noticed a decline in each patrons and sellers, recording the bottom rely this yr.
Whereas the gross sales stoop was evident in most main blockchains, Solana bucked the development when it comes to exercise.
Solana had US$93 million in month-to-month gross sales, the primary time the blockchain recorded underneath US$100 million since final November.
Solana set new information for month-to-month distinctive patrons and sellers, with 346,229 and 594,555 addresses respectively.
Nevertheless, the community’s common NFT value is falling. Its US$37.8 common month-to-month gross sales worth is the bottom this yr.