NFT market sales were down 18.43% to $116.9 million. Quite a few blockchains and NFT projects have proved to be recession-proof in the recent bear market. Simultaneously, wash trading has dropped dramatically on certain exchanges. Private market Immutable was able to maintain its number one rank, despite a drop in sales volume.
Immutable, which had previously recorded $41.8 million in sales, though that number is down 32.23% week over week. DMarket sales spiked up a modest 0.99% this week to $9 million.
Mythos Chain was down just -0.03% with $14.1 million in sales. Sales of Guild of Guardians Avatars were down 31.19% for a $7 million decrease.
Solana was a major exception to the overall downward trend, with an impressive 42.74% increase in sales—a total of $8.7 million. Our growth there is remarkable primarily because that’s not the case for many other platforms where we saw decreases.
Wash trading on Ethereum dropped by 18.29% to $1.8 million, a sign of ongoing efforts to combat artificial inflation of trading volumes. Solana took a much steeper drop with wash trading going down 81.19% to only $3.
Immutable still maintains its lead as the premiere platform within the NFT space. The recent sales data shows a confusing landscape of overall market corrections but still notable individual successes.
