Mutant Ape Yacht Club (MAYC) was among the digital collectibles hit hard by the lack of investor interest in non-fungible tokens (NFTs) in July.
MAYC is the fourth best-selling NFT by sales volume of all time at approximately $1.7 billion. Mutant Ape Yacht Club achieved sales volume of approximately $24.7 million in the seventh month of 2022, according to Be[In]Crypto Research based on data from CryptoSlam.
Generating over $20 million in sales in a bear market looks impressive compared to the volume of Moonbirds, The Sandbox, VeeFriends, and Meebits.
That said, MAYC’s sales were well below those of its sister project, the Bored Ape Yacht Club (BAYC) and Otherdeeds. However, the July statistic was down 34% from June. In June, sales were $37 million.
Why the drop in sales?
When you drill down into the number of unique buyers from July, the drop in sales volume caused Mutant Apes’ transaction count to fall, with 740 unique buyers and 1,108 transactions.
Unlike April of this year, when MAYC reached an annual high in monthly sales, there were 1,876 unique buyers and 2,812 total transactions. April sales of digital collectibles were approximately $261 million.
Generating less than $30 million in first-time sales, volume dropped $236 million. In addition to single buyers and transactions, the average sale value has also been hit hard. Average sales value fell 75% from $92,874 in April to $22,326 in July.
What do you think of this subject? Write to us and tell us!
All information contained on our website is published in good faith and for general information purposes only. Any action the reader takes on the information found on our website is strictly at their own risk.