Reports on NFTs, which have been very popular for the last few years, showed that sales had dropped drastically. Accordingly, NFT sales have decreased by 97% in the last 9 months alone.
Formed by the processing of assets on the Internet into the blockchain. NFTs (non-fungible token) has been on the agenda for the last two years. So much so that there have been reports showing that these assets, often consisting of videos, tweets, and photographs, have found buyers for millions of dollars.
But new reports have revealed that NFTs are slowly starting to lose their appeal. Data published by Dune Analytics shows that the sales volume of NFTs was between January and September of this year. From $17 billion to $466 million showed regression. This means that interest in NFT sales, which has been the subject of much controversy due to the monies paid, has drastically decreased.
97% decrease in 9 months
Data collected from leading NFT platforms such as OpenSea, NFTX, LarvaLabs, LooksRare, SuperRare, Rarible and Foundation 97% in just nine months also showed a decrease. In addition, this number put current sales behind July of last year. OpenSea, which is described as the largest platform in NFT, has also increased its sales in the past months. 75% announced that he had fallen.
In addition, the data also included some interesting information. While sales fell, similar large declines were not seen in the number of NFT traders. According to Dune Analytics, the total number of NFT buyers and sellers was 42,000 as of September. However, another report from OpenSea shows the number of users on the platform last month. 5% down also revealed.
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One of the biggest reasons for this decline is the most popular NFT collection Bored Ape Yacht Club (BAYC) is reported to be on the decline in popularity. The collection of monkey images, in which many world-famous celebrities have invested large sums of money, once at the top, is now listed under collections such as CryptoPunks and TerraForms. The data also shows the market value of BAYC in recent days. a decrease of nearly 10% reveals what happened.
So what do you think about this? Do you think NFTs are fading in popularity? You can share your thoughts in the comments.