NFT Sales Fall 23% In October – Here’s The NFT Market Prediction For November 2023

On Oct 31, 2023

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The non-fungible token market has another rough month, according to the latest data analysis. The NFT market has been declining for over a year, with total trading volume down over 90% since its peak in January 2022. In this article, we shall assess the state of NFTs in the past 30 days.

NFT Sales Fall 23% In October

Data compiled by CryptoSlam.io, an on-chain data aggregator, indicates that the NFT market has suffered another downturn this month. In the past 30 days, the NFT market has amassed a trading sales volume of $307 million, representing a 23% fall from the previous month.

During this period, the number of collectors that bought non-fungible tokens has fallen nearly 25% to just 230,498. However, the number of collectors that sold their NFTs has risen 9.67% to 287,337. In the past 30 days, the NFT market has seen nearly $7 million in transactions settled in the ecosystem.

Non-fungible tokens hosted on Ethereum have been the top most traded NFTs this October. In the past 30 days, Ethereum-based NFTs have recorded a trading sales volume of $170 million. Ethereum NFTs have fallen 18.27% this month from the previous month.

Source: CryptoSlam.io, NFT Sales By Blockchain in the past 30 days

Mythos Chain-based NFTs have been the second most traded NFT collection this month. In the past 30 days, Mythos Chain NFTs have recorded a trading sales volume of $37 million. During this time, Mythos Chain NFTs have surged 10% in trading sales volume.

Digital collectibles hosted on Solana and Polygon blockchain networks have been the third and fourth most traded NFT collection this month. In the past 30 days, Solana-based NFTs have recorded a sales volume of $27 million, while Polygon NFTs amassed a sales volume of $19 million.

Bitcoin Ordinals has been the fifth most traded NFT collection this month. In the past 30 days, the NFT collection has recorded a trading sale volume of $15 million. Nonetheless, Bitcoin Ordinals or Bitcoin-based NFTs have fallen 3.31% this month from the previous month.

Top Selling NFTs In October 2023

Source: CryptoSlam.io, top selling NFTs in the past 30 days

1. DMarket

DMarket, an NFT collection from the DMarket NFT marketplace, has been the top most-traded NFT collection this month. In the past 30 days, DMarket NFTs have recorded a trading sales volume of $36 million. DMarket NFTs have risen 10.78% this month from the previous month.

2. Bored Ape Yacht Club NFTs

Bored Ape Yacht Club, an NFT collection from the digital asset firm Yuga Labs, has been the second most traded NFT collection this month. In the past 30 days, Bored Ape Yacht Club has amassed a trading sales volume of $22.7 million. Bored Ape NFTs have risen 54% in sales this October.

3. Gods Unchained NFTs

Gods Unchained is an NFT collection from Gods Unchained, a decentralized competitive card game that takes some of the best lessons learned from games like Hearthstone. Gods Unchained has been the third most traded NFT collection this month, amassing a trading sales volume of $13 million.

4. Reign Makers NFTs

Reign Makers, an NFT collection from the fantasy sports game DraftKings, has been the fourth most-selling NFT collection this month. In the past 30 days, Rein Makers has amassed a trading sales volume of $12 million. Reign Makers NFTs have fallen 43.13% in sales this October.

5. CryptoPunks NFTs

CryptoPunks, an NFT collection owned by Bored Ape creator Yuga Labs that features a limited set of 10,000 NFTs, has been the fifth most-selling NFT collection this month. In the past 30 days, the NFT collection has amassed a trading sales volume of $11 million. CryptoPunks NFTs have risen 43.18% in sales volume this October.

6. Sorare NFTs

Sorare, an NFT collection from a fantasy sport cryptocurrency-based video game Sorare, has been the sixth most-selling NFT collection this month. In the past 30 days, Sorare NFTs have amassed a trading sales volume of $11 million. However, Sorare NFTs have fallen 12.83% from the previous month.

7. Mutant Ape Yacht Club NFTs

Mutant Ape Yacht Club, another NFT collection from Bored Ape Yacht Club creator Yuga Labs, has been the seventh most-selling NFT collection this month. In the past 30 days, Mutant Ape NFTs have recorded a trading sales volume of $8.7 million. During this period, Mutant NFT sales have risen 9%.

8. $SAT BRC-20 NFTs

$Sat BRC-20 is an NFT collection hosted on a Bitcoin network similar to renowned ERC-20 token standards. The NFT collection has been the eighth most traded NFT collection this month. In the past 30 days, $Sat BRC-20 NFTs have attracted a trading sales volume of $7.8 million. $Sat BRC-20 NFT sales volume has surged 35.27% this month from the previous month.

9. Winds Of Yawanawa NFTs

The Winds Of Yawanawa is a new NFT collection from renowned digital artist Refik Anadol in partnership with the Brazilian Yawanawa community hosted on the Ethereum network. The NFT series has been the ninth most-selling NFT collection this month. In the past 30 days, the new Winds of Yawanawa has amassed a trading sales volume of $7.5 million.

10. The Captainz NFTs

The Captainz, an NFT collection from the web3-focused venture studio featuring a limited set of 9,999 NFTs, has been the tenth month selling NFT series this month, amassing a trading sales volume of $7.1 million. The Captainz NFTs have risen 150% this month from the previous month.

The NFT Market Prediction For Nov 2023

The global NFT market has witnessed tremendous growth in recent years, evolving from a niche CryptoKitties transaction to record-breaking digital art sales. Fast forward to 2023, NFTs are now a multi-billion-dollar market, attracting serious investment from various sectors.

Crypto experts have predicted the NFT market to continue expanding in the coming weeks or months. Data analytic firm Statista recently predicted the global non-fungible token market to reach $3.2 billion by 2027, rising from $1.6 billion in 2023.