SuperRare NFT marketplace sees a 45% drop in monthly visits YoY

SuperRare, a distinguished participant within the digital artwork market, has reported a major 45% drop in month-to-month visits year-over-year (YoY). That is in line with knowledge from Statista. The decline in SuperRare’s visits displays a broader pattern of falling NFT gross sales and widespread disinterest in digital paintings.

Estimated complete variety of visits to the digital artwork market web site superrare.com Supply: Statista

SuperRare month-to-month visits drop to a brand new low since 2021

2024 began fairly properly for SuperRare, with a outstanding enchancment in month-to-month visits from December 2023, marking a 29% rise in January’s figures.

Nonetheless, shifting into February, visits slumped to 240,000 earlier than plunging additional to 180,000 in June 2024. The month’s fall in month-to-month visits represents the bottom quantity SuperRare has seen since 2021, marking a major 45% drop from the corresponding interval in 2023 and 10% from Could.

America, Spain, and South Korea had the best June visits on SuperRare.com. The US held roughly 20% of complete visits, whereas Spain and South Korea trailed with 17% and 13% of the full cumulative month-to-month visits, respectively. France and Russia adopted with 8% and 6%, respectively.

NFT market’s customers and wallets plummet

SuperRare’s drop in month-to-month visits is only one piece of an even bigger puzzle. In This fall 2021, most NFT marketplaces have been at their peak, with over 1.9 million lively wallets, 5 instances the quantity within the final quarter. Nonetheless, since then, the full variety of wallets buying and selling NFTs has been shrinking, with only one million lively wallets by 2022’s finish.

2023 marked an excellent higher fall with wallets all the way down to 213,000 within the final quarter of the yr, and pushing into 2024 was one other 7% decline in lively wallets in Q1, to 197000.

Furthermore, the drop echoes via the variety of customers, with NFTs dropping over 1.75 million in simply two and a half years, marking a 90% fall from 2021’s market uptick. Towards the start of June, there was already the next variety of sellers than patrons, indicating extra provide than demand within the NFT house. This affected NFT pricing, bringing it additional down in market worth.

The common worth of an NFT additionally dropped by virtually 60% in June in comparison with March. By the tip of Q2, NFT gross sales quantity plummeted by over 45% quarter over quarter, highlighting how NFT collectors select to carry on to their property whereas the costs are unfavorable.