Amid crypto downturn, the overall NFT sales volume remained flat in September 2022. While the overall sector seems to be stagnant, individual NFT sales are keeping pace, high-value NFTs on Ethereum still retain its charm and Solana NFTs are on the rise.
$947 million worth of NFT trading volume was recorded in September, according to data from DappRadar. This is slightly higher than $927 million in August and $916 million in July. June was the last month to surpass the $1 billion mark at $1.03 billion.
The most notable is Solana’s breakthrough. NFT-related activities on Solana have grown strongly since mid-September 2022 and that was the main driver of Solana NFT sales to $133 million in September, nearly double from $68.5 million in August. The success of Solana also came from some emerging projects. Typical examples can be mentioned as y00ts or Magic Eden, of which Magic Eden is the leading NFT marketplace on Solana. In June 2022, Magic Eden raised $130 million in new Series B funding, bringing its valuation to $1.6 billion.
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