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Are NFTs Dead?
The number of NFT sales has seen a 92% decline from their peak daily average of 225,000 in September 2021. Prices for “blue chip” NFTs have been in sustained decline, and smaller projects are struggling to gain or maintain traction.
Is this the end of NFTs? Listen in as Scott and Heather discuss the NFT landscape, including what it all means for collectors and investors.
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Episode Highlights
NFT Sales Are Flatlining: Is this the beginning of the end of NFTs?: “The imbalance between supply and demand is also hurting the NFT market. There are about five NFTs for every buyer, according to data from analytics firm Chainalysis. As of the end of April, there have been 9.2 million NFTs sold, which were bought by 1.8 million people, the firm said.” (The Wall Street Journal)
Are NFTs the new Tulipmania?: “Though a return to the previous market value of NFTs might seem to be catastrophic to those hoping to make quick money off of the sales of NFTs, for the majority of investors it is an opportunity to ensure the long-term sustainability of the market. Returning NFTs closer to their floor price, it allows for new projects and smaller investors to join the market without the fear of losing large sums of their income.” (NonFungible)
Mastercard to allow 2.9B cardholders to make direct NFT purchases: “The decision to expand its payment network to the rapidly growing NFT ecosystem was also based on the company’s latest survey of 35,000 respondents from 40 countries, which showed that 45% of the consumers have either bought an NFT or are considering doing so. Fifty percent of the surveyed consumers also showed interest in getting more flexible options to make purchases.” (Cointelegraph)
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About The Show
NFT Investor Nation is the show for passionate NFT traders, collectors and investors. Listen in as host Scott talks with leading NFT artists and entrepreneurs.
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