In the first half of 2022, NFT sales drop by a lot. Most of the drop had happened in about three months, and from the all-time highs seen at the beginning of the year, the drop was about 95%. Even now, the number of NFT sales is still not as high as it was last year. But new NFT sales have gone up in the last 24 hours, which suggests that some likely catalysts are showing up again.

Even though NFT sales as a whole are going down, new NFT sales for the last day are up. In the last 24 hours, the number of new NFT sales has increased by almost 100%. About 60,000 new NFTs had been sold the day before. The next day, however, the number of sales had jumped to 101,500.

At the same time, the number of new NFT collections being released has also been going down. In the same time period, the number of new collections went from 685 to 628, but the number of new sales went through the roof.

During the same time frame, the number of new wallets that used NFTs also went down. From almost 12,000 the day before to just 10,600 on Thursday. As the number of new NFT sales went up, so did the number of daily transactions.

new nft sales
New NFT Sales

Wednesday’s NFT volume was $42.51 million, but Thursday’s volume was about 15% higher. IntoTheBlock data shows that on August 25, the daily volume was $50.53 million.

What’s causing the rise?

In the last few months, NFT investors have been getting more and more pessimistic. Because of this, the floor price of the most popular NFT collections has fallen by about 90% from its all-time high. Because of this, smaller collections were hurt even more.

But with the start of some new projects that could be good, NFT volume has started to come back. The Mirs of Space mint, which happened on Thursday, was one example. The entire collection of 6,969 pieces of art sold out in about 10 minutes.

The Ezu NFT mint was also well-known. It was a sister project to the well-known Psychedelics Anonymous. Even though this mint hadn’t run out of coins, more than 5,200 had been made before the team decided 24 hours later to stop making them.

As the market waits for other mints, like the Vibin’ Ape Society mint, interest is always on the rise. This new trend could help the market get back on its feet. But as always, NFT sales also follow the general crypto market, so this could be a recovery or a continuation of the decline, depending on how the crypto market goes.

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