Binance researchers said September was the worst month on record for NFT sales declines since January 2021.
The base prices of major series such as Azuki, Bored Ape Yacht Club, and Mutant Ape Yacht Club have dropped by more than 25% month-on-month. NFT collections related to games and the metaverse experienced the largest decline last quarter, plunging more than 40%
The average sales price in September was $38.17, down significantly from the August 2021 peak of $791.84.
The number of daily independent NFT buyers also dropped 14% month-on-month to approximately 53,000. Analysts attributed this to challenging market conditions and low liquidity.