The sale of nonfungible tokens, or NFTs, fell to a daily average of about 19,000 this week, a 92% decline from a peak of about 225,000 in September, according to the data website NonFungible.
The number of active wallets in the NFT market fell 88% to about 14,000 last week from a high of 119,000 in November. NFTs are bitcoin-like digital tokens that act like a certificate of ownership that live on a blockchain.
Also, can’t wait for the galaxy-brain comments from crypto aficionados explaining how the banking sector is a scam, as if that was relevant here.
Good.
Im going to be honest here, I’m surprised it didn’t collapse by the end of last year.
NFTs are a cool technology, but make no sense commercially. I’m suprised the hype took this long.
next hype cycle: “web3”. it’s already starting.
Can’t read the article, it requires subscribing.
As of NFT’s in general, there is barely a difference between them and collectible unique sneakers drops or another overpriced consumer junk in terms of hype and utility. If you cannot accept NFT’s boom, probably capitalism is not for you ^_-
Well, this is also good and on the same topic, quoting the WSJ a lot: https://kotaku.com/nft-market-collapse-square-enix-ubisoft-sega-konami-sca-1848878945
