The NFT bubble might be bursting already | Crypto Craft

  • The NFT bubble might be bursting already

    From cnn.com

    Non-fungible tokens, or NFTs, are all the rage. But their popularity may have already peaked. Prices of NFTs, the digital certificates that have taken the art and collectibles world by storm this year, have plunged about 70% from their high point in February. The average price for an NFT on April 5 was about $1,256 -- down from more than $4.000 in late February, according to market research site NonFungible.com. Data from The Block, another crypto research firm, shows a similarly large decline for both prices and NFT sales as well. NFTs have been an investing and pop culture mania for the past few weeks, leading some ... (full story)

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yieldjunkie
Apr 5, 2021 3:51pm
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They're quoting average sales price... nothing addressing the velocity of NFT creations, most of which are listed for something like 0.01 ETH and decimate that average.

That said, I agree.
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