In May, the Non-Fungible Tokens (NFTs) market saw a significant decline in sales volumes, according to data from CryptoSlam. Global NFT sales fell sharply by 54%, dropping from over $1 billion in April to just $624 million. This downturn affected popular blockchains such as Bitcoin, Ethereum, and Solana, which all experienced reduced activity in digital collectibles.

Bitcoin's NFT sales volumes led the decline with a 68% drop, still managing to reach over $179 million in the month. Ethereum and Solana, the next most prominent blockchains for NFTs, saw their sales volumes decrease by 55% and 48% respectively during May.

Among NFT collections, those like Mad Lads on Solana, and CryptoPunks and Bored Ape Yacht Club (BAYC) on Ethereum, experienced the most significant declines. BAYC notably saw a 54% decrease in sales volume, while Mad Lads and CryptoPunks dropped by 44% and 41% respectively.

Despite these decreases, a few collections bucked the trend. Fantasy Top from the SocialFi project saw substantial growth, helping to elevate Blast as a top NFT blockchain. Similarly, the blockchain game Guild of Guardians on Immutable recorded a 69% increase in sales volumes, contributing to a 23% rise in the blockchain's overall sales. On Solana, collections like DogeZuki and Solana Monkey Business showed impressive growth rates of 130% and 74% respectively.