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The non-fungible token market has experienced a rough month, with a recent study claiming that nearly 95% of digital collectibles may now be worthless. In this article, we shall explore the state of NFTs in the past 30 days as well as the market prediction for this new month.

Data compiled by CryptoSlam.io, an on-chain data aggregator, indicates that the global NFT market has experienced a significant decrease in trading sales. In the past 30 days, the NFT market has recorded a trading sales volume of $333 million. The NFT has fallen 34% in the past 30 days.

Non-fungible tokens hosted on Ethereum, the largest blockchain network, have been the most traded NFT collection past month. In the past 30 days, Ethereum-based NFTs have attracted a sales volume of $169 million. Ethereum NFTs fell 42% last month from the previous month.

Digital collectibles hosted on Mythos Chain, a permissioned EVM chain based on the Mythos token optimized for in-game assets that power the Mythical Games ecosystem, have been the second most traded NFT collection in the past month. In the past 30 days, Mythos Chain-based NFTs have recorded a trading sales volume of $33 million. Mythos Chain NFT sales rose 31.44% in September.

Source: CryptoSlam.io, NFT Sales By Blockchain

NFT collections hosted on Polygon, an Ethereum scaling network, have been the third most traded NFT collections in the past month. In the past 30 days, Polygon-based NFTs have recorded a trading sales volume of $33 million. Unfortunately, Polygon NFT sales fell 39% in the past month.

Solana and Immutable X-based NFT collections have been the fourth and fifth most traded NFT collections in the past month. In the past 30 days, Solana and Immutable X-based NFTs have recorded a trading sale volume of $26 million and $20 million, respectively. Solana-based NFT sales fell 26% in September, while Immutable X NFT sales rose 3.82%.

Ten Top Traded NFT Collections In September

Despite the recent study suggesting that nearly 95% of non-fungible tokens are worthless, many collectors and investors have not given up on these digital assets. Below, we have listed some of the top-selling NFT collections in the past 30 days:

Source: CryptoSlam.io, top selling NFTs in September

1. DMarket

DMarket, an NFT collection from the DMarket NFT marketplace hosted on the Mythos Chain network, has been the most traded NFT collection in the past month. In the past 30 days, DMarket NFT collection has amassed a trading sales volume of $33.5 million. DMarket NFT sales volume rose 31.69% last month from the previous month.

2. DraftKings Reign Makers NFTs

DraftKings Reign Makers, an NFT collection the sports betting company DraftKings hosted on the Polygon network, have been the second most traded NFT collection in the past month. In the past 30 days, the NFT collection has attracted a trading sales volume of $21 million. DraftKings Reign Maker NFTs rose 23.09% last month from the previous month.

3. Gods Unchained NFTs

Gods Unchained, an NFT collection from an ultimate digital trading card game Gods Unchained hosted on the Immutable X network, has been the third most traded NFT collection in the past month. In the 30 days, Gods Unchained NFT collection has recorded a trading sales volume of $18.1 million. Gods Unchained NFTs rose 20.65% last month from the previous month.

4. Bored Ape Yacht Club NFTs

Bored Ape Yacht Club is an NFT collection from the digital asset firm Yuga Labs, featuring a limited edition of 10,000 NFTs hosted on the Ethereum network. Bored Ape Yacht Club has been the fourth most traded NFT collection past month. In the past 30 days, the NFT collection has recorded a trading sales volume of $15 million. Bored Ape NFT sales fell 41.29% in the past month.

5. Sorare NFTs

Sorare is an NFT collection from the fantasy sport crypto-based video game Sorare hosted on the Ethereum network. Sorare has been the fifth most traded NFT collection in the past month. In the past 30 days, Sorare NFTs have recorded a trading sales volume of $12.4 million. Sorare NFTs fell 21% in September.

6. Mutant Ape Yacht Club NFTs

Mutant Ape Yacht Club is another NFT collection from the digital asset incubation studio Yuga Labs, featuring a limited edition of 20,000 NFTs hosted on the Ethereum network. Mutant Ape Yacht Club NFTs have been the sixth most traded NFT collection in the past month. In the past 30 days, Mutant Ape Yacht Club has recorded a trading sales volume of $8.1 million. Mutant Ape NFTs fell 25% in the past month.

7. CryptoPunks NFTs

CryptoPunks is an NFT collection previously from the digital asset incubation studio Larva Labs but now owned by Bored Ape Yacht Club NFT creator Yuga Labs, featuring a limited edition of 10,000 NFTs hosted on the Ethereum network. In the past 30 days, the CryptoPunks NFT collection has been the seventh most traded collection, recording a trading sales volume of $7.8 million.

8. $SATS BRC-20 NFTs

$SATS BRC-20 is an NFT collection hosted on the Bitcoin network, similar to the ERC-20 token standard. In the past 30 days, $SATS BRC-20 has been the eighth top-traded NFT collection, recording a trading sales volume of $5.8 million. The NFT collection rose 210% in sales in the past month.

9. Art Blocks NFTs

Art Blocks is an Ethereum-based NFT project that generates original digital artwork pieces on the blockchain via an algorithm. Art Blocks NFT collection has been the ninth most traded NFT collection past month. In the past 30 days, the Art Block NFT collection has recorded a trading sales volume of $5.0 million. Art Block NFT sales fell 8.74% in September.

10. Nouns NFTs

The Nouns is an NFT collective hosted on the Ethereum network that builds an open-source IP through funding creative projects. Noun NFT collection has been the tenth most traded NFT collection in the past month. In the past 30 days, the Noun NFT collection has recorded a trading sales volume of $3.8 million. Noun NFT sales volume rose 100% in September.

Mega Zombie was the most expensive NFT collection this past month, selling for $809,044 earlier in September. Cross The Ages #223963 was the second most expensive NFT collection in the past month, selling $151,112 thirteen days ago.OCM Dimensions #215 was the third most costly NFT collection in the past month, selling for $106,708 eighteen days ago.

Source: CryptoSlam.io, most expensive NFTs in September

Noteworthy NFT News In September

1. The SEC Fined Stoner Cats NFT $1M

Earlier last month, the United States Securities and Exchange Commission fined Stoner Cats NFT collection founders $1 million for offering unregistered securities. Stoner Cats NFT collection founders launched their NFT collection in 2021 and generated more than $8 million.

🚫 Stoner Cats #NFTs, co-created by Mila Kunis, pulled from NFT marketplaces!#SEC charges for unregistered crypto securities offering. 🤨☕️ #CryptoNews #SEC #NFTs pic.twitter.com/4yuNfet0Fe
— Root_Shaw.NFT (@RootShaw31) September 21, 2023

2. Magic Eden Added Support For cNFTs

Magic Eden, the most prominent digital market platform for Solana-based non-fungible token collections, announced support for Solana-based Compressed NFTs, “cNFTs.” These cNFTs are special and unique since they store data more efficiently, reducing costs for creators and buyers.

Today we’re releasing support for cNFTs (find them in our popular collections) 🪄
cNFTs are a new wave of NFT creation only possible on Solana. The “c” stands for compressed (not Cardano don’t worry) which allows them to be produced at a fraction of the cost of traditional… pic.twitter.com/WbO4qqWLEt
— Magic Eden 🪄 (@MagicEden) September 14, 2023

3. Report Found 95% Of NFTs Worthless

On September 20, DappGambl, an on-chain analytic firm, released a report claiming that nearly 95% of NFT collections were worthless. The analytical firm examined 73,257 NFT collections and found that an eye-watering 69,795 have a market cap of 0 Ether. This statistic found that 95% of people holding NFT collections hold onto worthless investments.

💭🤨 “95% of NFTs are worthless”
🧵👇🏻
Been thinking about this statement the last few days.
At first we hear stuff like this and go… “damn that’s brutal.”
Now I’m kinda thinking “damn that’s accurate AF”
Apparently someone ran a study on like 70-75,000 projects and… pic.twitter.com/jGi2CAEHv2
— Papii 🍣🐆 (@OneAndOnlyPapii) September 24, 2023

4. PayPal Filed Patent To Create An NFT Marketplace

Earlier last week, PayPal, an online payment system that allows you to send and receive money around the world, filed a patent application to the United States Patent and Trademark Office. The fintech firm showcased plans to launch a digital market platform for NFTs and transfer.

5. Pudgy Penguins Listed NFT-Inspired Toys In Walmart

Earlier this week, Pudgy Penguins, the digital asset firm and the team behind the popular Pudgy Penguins NFT collection, launched NFT-inspired toys in 2,000 Walmart stores across the United States. Each Pudgy Toy came with a unique birth certificate that enabled owners to claim exclusive traits for their digital ‘Forever Pudgy’ character within Pudgy World.

On this day, Web3 enters a Brave New World.
Pudgy Toys, with Pudgy World, are now available in 2,000 Walmarts in the USA. pic.twitter.com/UP8npUxCr3
— Pudgy Penguins (@pudgypenguins) September 26, 2023

NFT Market Prediction For October 2023

Despite the non-fungible token market suffering a brutal comedown in the past several months, many industry experts, collectors, and investors remain bullish that the market will revive again. Earlier last month, data analytic firm Statista projected the NFT market to continue growing in revenue, users, and market capitalization. NFTs have a huge potential to come back in the coming weeks or months.