Tuesday, April 16, 2024

NFT market on the verge of collapse


1 min read

Sales of NFTs, or non-refundable tokens, recorded a decline of 92 percent compared to the best period of the previous year.

These are the analyzes of the NonFungible website, which the WSJ also confirms, and show that NFT sales this week fell to a daily average of about 19,000, and in September alone, it had an average sales of 225,000.

The number of active wallets in the NFT market also declined significantly. The data show a decrease of 88%, so there are about 14,000 NFT wallets after more than 119,000 in November.

The report claims that the interest of standard users in NFTs is declining sharply. Google Trends points out that searches for NFT terms peaked in January while falling about 80 percent.


In addition, the annual report of the GDC (Game Developers Conference), which surveyed more than 2,700 game developers, suggests that the vast majority of them are not interested in NFT.

During the previous period, we also witnessed that many NFT owners now have great difficulties selling them. The previously invested investments in these tokens are unprofitable because NFTs have lost value.







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