NFT Market Sees Sharp Decline In Activity, But Select Collections Like CryptoPunks Still Thrive

Over the past year, the NFT market has experienced a significant slowdown, with both the number of new NFTs created and daily sales dropping drastically.

Once bustling with thousands of daily minted collectibles, the market now sees almost no new creations on a daily basis. For those tracking trends on platforms like IntoTheBlock, exploring different time frames may provide further insight, but the decline is undeniable.

Despite this downward trend, certain high-profile NFT collections continue to command top dollar. The most notable example is CryptoPunks, where some pieces are still fetching millions. Just today, CryptoPunk #9368 sold for a staggering $1.28 million, showcasing that while the broader NFT market may have cooled, demand for elite, blue-chip NFTs remains strong.

The number of #NFTs created and number of daily #NFT sales have greatly decreased across the last 365 days.

From thousands of daily created collectibles to almost none on the daily:
You may want to explore other time-frames on @intotheblock but that's not all