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NFT sales slide to single-digit millions for the week
Non-fungible token sales volume declined to 91.96 million dollars in the first week of September, according to tracking data from CryptoSlam, marking the weakest weekly total since mid-June. After two months of robust momentum, the NFT market pulled back sharply as both buyer participation and average sale prices fell.
From summer highs to a softer market
July and August delivered sustained strength for digital collectibles, with weekly volumes never falling below 115 million dollars for eight consecutive weeks. The market peaked in late July, when weekly sales reached around 170 million dollars from July 21 to 27, one of the best performances recorded this year and only surpassed by January highs above 170 million.
This rebound in summer trading demonstrated renewed interest and broader adoption for NFTs. But the first full week of September reversed that trajectory, returning weekly sales to levels last seen June 16 to 22, when sales bottomed near 90 million dollars.
Unique buyers and sellers decline sharply
One of the most notable signals in the recent pullback is the drop in unique NFT buyers. From Sept 1 to 7, CryptoSlam recorded 199,821 unique purchasers — a 58 percent fall from the roughly 487,264 buyers active in mid-June. Unique sellers also contracted, falling to 145,877 last week, down 43 percent from the 258,803 sellers seen in the June 16 to 22 period.
A plunge in buyer count often indicates lower demand and reduced market breadth, even when overall transaction counts remain elevated. That dynamic has implications for floor prices, liquidity, and resale markets across major NFT collections and marketplaces.
Average sale prices and transaction activity
Average sale values cooled alongside buyer participation. During August the mean sale price for NFTs hovered above 104 dollars, dipped to about 82 dollars at the end of the month, and fell further to roughly 72 dollars in the first week of September — a near 30 percent decline in two weeks. This points to a shift toward smaller, lower-value purchases rather than high-ticket record sales.
Despite the lower dollar volume and shrinking buyer pool, total transaction count remained comparatively strong at about 1.27 million transactions for the week. The data suggests that while many trades continued to occur, the average ticket size and number of unique collectors were down.
What drove summer adoption and recent cooling
Analysts say adoption and real-world exposure were key drivers of the summer rally. DappRadar analyst Sara Gherghelas highlighted cultural and on-chain developments that boosted visibility for NFT art and collectibles. Examples include the opening of a permanent NFT art gallery integrated into a club in Ibiza, showcasing works by prominent digital artists like Beeple and Mad Dog Jones.
On the infrastructure side, Base, the layer-2 network launched by Coinbase, helped fuel transactional growth. In August Base climbed to become the third-largest chain by 30-day volume, attracting creators, collectors, and developers thanks to low-cost transactions and easy access to Coinbase liquidity.
The recent contraction likely reflects a mix of factors: normalization after a sustained summer run, buyers pausing to assess floor prices, and rotation within the broader crypto markets. Short-term shifts in sentiment, gas costs, marketplace fees, and promotional incentives from platforms can also quickly swing weekly volumes.
What market participants should watch
Key metrics to monitor as the market seeks direction include unique buyer and seller counts, average sale price, total transactions, and on-chain volume by chain and marketplace. Pay attention to layer-2 adoption trends like Base, changes to marketplace fee structures, and notable gallery or institutional engagements that can spotlight NFT projects.
For collectors and traders, a sizable divergence between transaction count and dollar volume can create opportunities. High transaction counts with lower average prices may indicate accumulation windows for long-term collectors, while sudden upticks in unique buyers and average price can hint at renewed momentum.
Outlook for NFTs
The NFT market remains young and cyclical. The recent dip in weekly sales and buyer participation is notable but not unprecedented. Continued infrastructure growth, mainstream partnerships, and experiential venues showcasing NFT art can restore confidence and attract fresh buyers. Conversely, broader crypto market volatility and waning speculative demand could keep volumes muted in the near term.
As the space matures, professional collectors and institutional participants will likely pay closer attention to on-chain fundamentals and utility-driven drops. For now, traders should track metrics like sales volume, unique wallets, and average sale price to gauge whether the market is consolidating or starting a new expansion phase.
Overall, last weekâs slowdown underscores how quickly NFT market dynamics can shift, reinforcing the need for real-time data and thoughtful risk management across marketplaces, chains, and collections.
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