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July 22, 2022

Doodles NFT sales down by 80% from May’s levels

Doodles is one of the top 15 digital collector collections of all time, with a cumulative sales volume of over $511.85 million over the course of its existence. Doodles made a total of around $15.39 million in sales for the month of June 2022.

The value of the digital collectible seems to be somewhat low despite the fact that it has completed a number of important milestones. Doodles, on the other hand, outsold Axie Infinity, Bored Ape Kernel Club, the Sandbox, and Meebits over the same time period in terms of monthly sales.

However, as compared to those of Otherside, CryptoPunks, and Bored Ape Yacht Club, the NFT’s sales were much lower. Despite this, Doodles’ most recent sales volume was much lower than May’s. The decline was almost 80 percent. During the month of May, Doodles’ sales came to around $77.63 million.

On October 17, 2021, Jordan Castro, Scott Martin, and Evan Keast were the ones who first presented the concept of Doodles. Burnt Toast was responsible for the creation of the digital attributes that were used to make 10,000 non-fungible tokens for the collection. The hand-drawn Doodles include a variety of characters, including mascots, apes, aliens, cats, and skeletons.

The collection also includes a wide variety of clothing options, one-of-a-kind heads, and a wide range of color swatches from the artist’s palette. When you become an owner of a Doodle, you have the sole right to vote on community-driven events, commodities, and features.

You can see how the decrease in sales volume from June resulted in a decline in Doodle’s transaction counts, which decreased to 677 unique buyers and 998 transactions. This may be attributed to the fact that there were fewer people making purchases.

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When compared to January, which was the month in which the NFT’s monthly sales reached their highest point, there were 1,928 different buyers, which resulted in 3,127 transactions. The first month of the year brought in more than $122.11 million for Doodles in terms of revenue.

The sale of the collection hit a new all-time low in June when it brought in less than $30 million for the first time. This is a drop of $106.72 million from January’s total.

In addition to a decrease in sales volume, the typical selling price took a significant dive, dropping from $39,049 in January to $15,417 in June, a reduction of 60 percent.