NFT markets began to experience an unprecedented contraction. NFT sales have dropped 92 percent since September 2021, according to shared data. Statistics, “Did the NFT markets crash?” begs the question.
The trend of blockchain technology over the past year is undoubtedly NFTwere. NFTs, also known as “immutable tokens”, attracted the attention of almost everyone. In fact, NFT markets have reached billions of dollars in size. However, the latest analysis reveals that there is a major bottleneck and even collapse in the NFT world. So much so that NFT sales since September 2021 92 percent it’s down…
According to research by a website called NonFungible, daily NFT activity was around 225,000 in September 2021. However, the number of daily NFT sales in the first week of May 2022, up to 19 thousand declined. However, the number of active wallets used to store NFTs is also decreased by 88 percent. Also investigating the data in Google Trends, NonFungible announced that users’ NFT searches have decreased by 89 percent since January 2022.
Why has interest in NFTs, even supported by governments, suddenly waned?
NFTs are not only created by cryptocurrency investors, but by world-famous names. governments even attracted attention. Ukraine, for example, has a war with Russia to raise funds. NFT project explained. The United Kingdom, on the other hand, announced its decision to create a special collection. Turkey, billionaire businessman Elon Musk gifted NFT. To reproduce these examples possible. So why is interest in NFTs falling?
RELATED NEWS
Starbucks to Release NFT Collection to ‘Bring Together’ Coffee Drinkers
To be frank, it is not possible to say anything clear about the decline in the popularity of NFT. However, the number of people who do not believe in this technology is not small at all. Example Elon Musk. Although the Tesla boss is a staunch crypto advocate, he kept making fun of NFTs. Even for NFTs”nonsense‘ said Elon Musk, encouraging small investors. can continue to affect looks like…
Source :
https://www.techtimes.com/articles/275082/20220505/nft-sales-dropped-92-september-2021-effect-elon-musks-tweet.htm