NFT sales in June fell to a one-year low

Trading volumes on OpenSea Marketplace decreased by 75% for the month

NFT

In June, NFT marketplace sales were less than $1 billion for the first time since June 2021, Bloomberg writes. Sales of the largest NFT marketplace, OpenSea, were $670 million in June, down 75% from May.

By comparison, January 2022 sales at the leading non-interchangeable token marketplace were $5 billion. OpenSea’s monthly volume in June is the lowest for the platform since July 2021.

Prices for the top-selling NFTs also declined. Some tokens from the Otherdeed collection (NFTs for the Overside metaclass universe), which were in high demand in May, fell in value by about 30% over the past month, and the value of items from the Bored Ape Yacht Club (BAYC) series fell by nearly 33%.

But there is a new collection of nft monkey that you can buy at a very favorable price.

The industry has also become attractive to a huge number of different kinds of scammers. Just lately hacking of Beeple’s account brought $438k in NFT to fraudsters, actor Seth Green lost NFT worth $300k by following a phishing link, and a record $14bn worth of cryptocurrency was stolen in the entire year 2021.

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The post was written by Crypto Expert John Belford

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