NFT Sales have tanked by 67% over the past 30 days.

One month ago I posted a chart here that was picked up by Statista as an official report, showing that search term volume for NFTs was plummeting.

Many people at the time counter-argued that search results are meaningless and that sales were as strong as ever. Today, Seeking Alpha reports:

Sales on OpenSea approached $5bln in January 2022, which was a giant leap from only $8mln a year before, but sales halved to around $2.5bln in March 2022 and now to 67% into mid-April. This may be the sign that the 'Tulip Mania' bubble has popped for million-dollar JPEG files.

The chart of sales in the Polygon network, which is also a payment option for NFTs, mirrored the ETH sales on OpenSea. Sales crossed 2.68 million NFTs in a month in January, but just a little over 500k NFTs were sold last month and sales are approaching June 2021 levels.

All signs point to diminishing interest in novelty NFTs, which is bad news if you're Meta.