“We are seeing the lowest levels since last October,” analysts commented on the global sales of non-fungible tokens (NFTs), which totaled just US$604 million in May. This marks the first month this year that sales have dropped below one billion dollars. Analysts attribute this decline to an overall slowdown in the digital assets market.

On the Ethereum platform, which is the global leader in NFT sales with a historical volume of over US$43 billion, sales amounted to US$164 million last month, the lowest since September. “To find a comparable number of unique buyers, one would have to look even further back,” they added.

The situation on the Bitcoin network also shows a decline: monthly sales amounted to US$160 million, the lowest since last October, with both buyer and seller counts dropping to the lowest levels of this year.