After a turbulent first half of the year which brought a number of major sales, data from September indicates that the non-fungible token (NFT) market has once again entered a phase of decline in sales and interest.
The number of sales, its value, the number of active wallets, buyers, and sellers have dropped sharply this month.
For example, the number of weekly sales dropped by 78% between August 30 and September 9, reaching 29,897, per nonfungible.com data. Other metrics followed a similar path.
Number of Sales
At the same time, at the turn of August and September, interest in NFTs recently picked up on Google and even surpassed searches for ethereum (ETH). This said, after the first four days of September, also this value entered a downwards trend.
When comparing users’ interest in NFTs and ETH, Japan, South Korea, Thailand, Vietnam, and the Philippines rank among those countries in which Google users more often search for information on NFTs than ETH. Outside of Asia, however, ethereum edges out NFTs in terms of online search records, in particular in Europe, North America, South America, and Australia.