ניט-פונגיבלע טאָקענס (נפטס) took the world by storm in 2021 but have since witnessed a major drop in interest as their sales volumes keep decreasing, caught in a difficult period along with the rest of the קריפּטאָקוררענסי אינדוסטריע.
Indeed, the sales of NFTs on OpenSea – the largest marketplace for digital collectibles – plummeted in the third quarter of 2022, 60% down compared to the second quarter, according to the data ארויס by market analytics platform Cryptounfolded אויף אקטאבער קסנומקס.
As the chart demonstrates, the NFT monthly sales reached their high on January 2022, when they surpassed 4 billion, only to drop dramatically in June and continue their steady decline since.
Continuous decline
אין שפּעט סעפטעמבער, פינבאָלד reported on NFT monthly trading volume declining for the fifth consecutive month, crashing 97% since its peak in January, and ending up at barely $466 million in September, as per דון אַנאַליטיקס אינפֿאָרמאַציע.
Earlier, in August, data had shown that the NFT trade activity in the second quarter had already פּלאַמאַטיד 40% ווי דער אינטערעס אין דיגיטאַל קאַלעקטאַבאַלז דווינדאַד amid significant challenges faced by the crypto sector. At the same time, it was also revealed at the end of August that NFT trading volume on OpenSea, געפאלן צו אַ 1-יאָר נידעריק.
Meanwhile, the waning interest in NFTs could partially be attributed to the fact that the vast majority of people, or more than 64%, only purchased digital collectibles in order to sell them at a higher price and מאַכן געלט, as demonstrated in a June survey.
Others (14.7%) purchased them in order to “join a community and flex,” while only 12.4% of NFT customers bought them for the sake of collecting digital art, and a very small portion (8.6%) purchased them to access games and tools.
Still some hope on the horizon?
Interestingly, a section of the crypto space is still בוליש on NFTs, including Katie Haun, the founder of a $1.5 billion Web3 venture capital (VC) firm Haun Ventures, who had suggested that NFTs would make a comeback.
According to her, this comeback would primarily be pushed by the general shift towards a digital world that, in her view, would unlock a lot of new use cases once the infrastructure is better, “more efficient and user-friendly.”
אָפּלייקענונג: דער אינהאַלט אויף דעם פּלאַץ זאָל ניט זיין געהאלטן ינוועסמאַנט עצה. ינוועסטינג איז ספּעקולאַטיווע. ווען ינוועסטינג, דיין קאַפּיטאַל איז אין ריזיקירן.
Source: https://finbold.com/opensea-monthly-nft-sales-nosedive-60-in-q3/