NFT sales fell by 45% in the second quarter of 2024, consistent with the bearish trend of Bitcoin. Data from CryptoSlam revealed that NFT sales dropped to $2.24 billion, the lowest level since the third quarter of 2023. This sharp decline contrasted sharply with the $4.1 billion in sales in the first quarter of 2024, which continued the growth trend of $2.9 billion in the fourth quarter of 2023.

June 2024 also saw a significant drop, with the average NFT sale value down 59% from March. This month is also expected to record the lowest NFT trading volume since March 2021.