The non-fungible tokens (NFTs) market is experiencing a significant decrease in sales globally. Recent data from Cryptoslam indicates that the average sale prices of NFTs have dropped by almost 60 percent between March and June of this year. In March, the average price of an NFT was around $193 (roughly Rs. 16,100), but by June, it had declined to $79.17 (roughly Rs. 6,604).
Cryptoslam stats show NFT market status
According to CryptoSlam, the average NFT sale price decreased by 59.11 percent in the second quarter of 2024 compared to the first quarter. Total sales volume also saw a sharp decline, dropping from $1,604,580,523.51 to $462,260,209.09 between March and June. The number of unique NFT buyers decreased from 1,083,490 in March to 998,138 in June, while the number of unique sellers dropped from 675,306 to 475,999 during the same period.
Recent developments in the NFT arena have showcased various innovations and partnerships in the industry. NFTs, which are digital collectibles built on blockchain networks, have seen adoption in areas such as gaming, art, and even ticketing. Companies like Samsung, IRCTC, and Sony are exploring the potential of NFTs by offering rewards and digital souvenirs to customers.
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- Source: https://cryptoinfonet.com/nft-news/report-shows-nft-sale-prices-dropped-by-almost-60-in-q2-of-2024/
