August NFT Blue-Chip Recap

August saw a notable shift in the performance of Ethereum's blue-chip Non-Fungible Tokens (NFTs), recording a 40% MoM reduction in trading volume from $379 million to $226 million. The collections of Azuki, Bored Ape Yacht Club (BAYC), DeGods, and Mutant Ape Yacht Club (MAYC) saw significant volume throughout this past month, jointly contributing to over 80% of the total volume in August.

The total market cap of blue-chip collections fell from $2.1 billion in July to $1.7 billion in August. This substantial hit was primarily driven by the sharp sell-off of DeGods, whose market cap fell by more than 50% in August.