The global NFT market is facing another bumpy year, with total active wallets and sales on Ethereum, Ronin, and Flow blockchains plummeting to their lowest levels since early 2021, reflecting a significant downturn in collector spending.
SuperRare has seen a staggering 90% decline in monthly visits over the last three years, plunging to just 180,000 in June. This marks a continued downward trend in a once-thriving marketplace for digital art.
Despite positioning itself as a high-end NFT art marketplace, SuperRare's stringent curation process hasn’t shielded it from the overall market decline. The drop in investor appetite is evident with visits decreasing tenfold since the market peak.
In a broader context, SuperRare’s user base is now showing a distinct retreat. American collectors represent the largest share of visits, but the total volume has drastically fallen from peaks of 1.8 million visits in June 2023.
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