Monthly NFT sales fell for fifth consecutive month to $495M in July

Decline in NFT sales and the need for new opportunities in the sector.

Key points:

• NFT sales in July totaled $495.6 million, down 23% from June.
• This marks the fifth consecutive month of declining NFT sales since February.
• The average sale in July was just $47, indicating less interest in high-value NFTs.
• Transaction levels remain high, indicating a growing prevalence of low-barrier NFT sales.
• Ethereum, Bitcoin, and Solana were the top blockchains for NFT sales in the past 30 days.
• The decline in NFT sales highlights the need for players and builders in the sector to find new growth opportunities.