Doodles NFT Sales In June Recorded A 80% Drop Compared to May. What Is Happening?

Doodles NFT Sales Records A 80% Drop

Doodles, with a combined sales volume of almost $511.85 million, is one of the top 15 digital collector collections of all time. In June 2022, Doodles sold a total of around $15.39 million.

Despite the fact that the digital collectable has achieved several milestones, its value looks modest. However, in the same period of time, Doodles outsold Axie Infinity, Bored Ape Kernel Club, the Sandbox, and Meebits in terms of monthly sales.

The NFT’s sales, however, fell behind those of Otherside, CryptoPunks, and Bored Ape Yacht Club. Despite this, Doodles’ most recent sales volume decreased by 80% from May’s. Sales for Doodles were somewhere about $77.63 million in May.

Doodles was introduced on October 17, 2021, by Jordan Castro, Scott Martin, and Evan Keast. 10,000 non-fungible tokens from the collection were made using digital qualities produced by Burnt Toast. There are mascots, apes, aliens, cats, and skeletons among the hand-drawn Doodles.

Numerous outfits, unique heads, and color variations from the artist’s pallet are also included in the collection. You have the exclusive power to vote on community-driven activities, goods, and features once you become a Doodle owner.

You can see how the drop in sales volume from June resulted in a reduction in Doodle’s transaction counts, which fell to 677 unique purchasers and 998 transactions.

In comparison to January, when the NFT’s monthly sales peaked, there were 1,928 unique purchasers, which translated to 3,127 transactions. The first month of the year saw over $122.11 million in sales for Doodles.

The collection reached a greater low in June by selling less than $30 million for the first time, a $106.72 million decline from January.

In addition to a decline in sales volume, the average selling value fell by 60% from $39,049 in January to $15,417 in June.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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