Against the backdrop of a bear market, Otherside NFT sales declined significantly. Previously, the project was in the top 10 largest NFTs in sales of all time. Total sales were $995.61 million in just two months from launch. In June, sales fell to $40.55 million, according to to NFT Politan.
Due to the low sales figures of Meebits, VeeFriends, NBA Top Shots, Axie Infinity, Moonbirds, and Mutant Ape Yacht Club (MAYC), it would seem that Otherside NFT sales are high. However, there has been a 95% decline since early May.
Yuga Labs launched the Otherside metaverse on April 30, 2022, to expand the Bored Ape Yacht Club ecosystem. 10,000 NFT holders from this collection can join the metaverse.
Analysts also tried to answer the question: of why sales are falling. The decline in unique users, also seen in June, led to a decline in digital collectibles transactions. In total, 3,225 unique buyers and 6,646 transactions were recorded. This figure reached its maximum in May: 20,514 unique buyers and 42,098 transactions.
Recording less than $50 million, Otherside hit a new low in June. In addition, the average sale price decreased by 27%, from $22,417 in May to $6,102 in June.