May 16, 2022

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Big Fluctuations in the NFT Market - Digi.no

Big Fluctuations in the NFT Market – Digi.no

From 225,000 daily NFT sales in September, the average at the end of April has fallen to about 19,000 sales a day, according to nonfungible.comNFT market analysis page. The number of active portfolios is down 88 percent since November.

– NFT market collapses The Wall Street Journal.

The public appears to be losing interest in NFT, Nonfungible agrees in its first quarterly report for 2022. However, they do not agree that the market has collapsed.

Nearly eight billion deals were still made with NFTs in the first quarter, analysts say, calling the development stabilizing.

controversial market

NFTs got serious attention last year. After news of huge victories and crush a million lossesbecame the acronym NFT named one of this year’s newcomers. It opened in Oslo Norway’s first physical NFT exhibitionAnd



At the same time, the debate continued: Are these the goals of investing in the future, or is it a bubble ready to burst? In a stunt that could be interpreted as a small piece of art in its own right, Australian Geoffrey Huntley launched The NFT Bay, claiming to own “Right click on all NFTs».

January was great NFT optimism among tech giantsand Youtube, Twitter and Facebook have launched their own NFT initiatives.

At the same time, interest peaked online, but since then the number of Google searches for the term NFT has fallen by about 80 percent, according to Google Trends.

loss of fear

Investors now fear losing money, according to the Wall Street Journal, highlighting the story of the world’s first tweet, which was sold as NFT in March for $2.9 million.

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Buyer Sina Istavi, general manager of blockchain company Bridge Oracle, has auctioned NFT, promising to allocate half of the proceeds to charity.

The highest bid he received was $14,000. Choose not to sell.

The market is fluctuating, Estafi said, who doesn’t regret buying NFT because it is “capitalist.”

Continuing interest

Although the big gold rush after NFTs looks like it’s over by this time, we might want to see fewer seemingly random volumes like tweets and SMS is sold as NFT– Else, there is still interest in parts of the market.

Established and popular artists still sell well. There is also a good market for NFTs associated with other products, such as movie tickets or concert tickets.