NFT sales volume declines to $40.88 million amid rising buyer participation

NFT sales volume decreased by 23.48% to $40.88 million during the week ending October 3, down from approximately $53.42 million in the previous seven-day period. Despite the decline in total dollar volume, market participation showed signs of growth, with buyer addresses increasing by 28.79% to 206,788 and total transactions rising by 8.44% to 863,295. This trend suggests a shift toward more frequent, smaller-scale trades, with the average sale value at roughly $47.35.

Ethereum remained the leading blockchain for NFT sales with $17.08 million, despite a 42.01% weekly decline. Polygon saw growth, with sales increasing 12.89% to $8.21 million. Among specific collections, Courtyard led with $7.31 million in sales. Panini America experienced a significant surge, with sales jumping 557.53% to $1.87 million. Additionally, a piece titled ‘Special Edition’ by Beeple on the Ethereum network was recorded as the highest single transaction of the week at $436,154.