game over? Data reveals a bleak future for NFTs


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At the beginning of the year, non-native tokens (NFTs) gained prominence in the art sector and began expanding into other entertainment sectors, such as sports and even video games, as important companies announced that they would venture into this modern and controversial trend. Well, it seems that the interest in it was short-lived, as a study showed that people lost a lot of interest in the NFT market.

Place Brutus Sharing interesting data from NonFungible indicating that the speculative bubble around NFTs has apparently lasted about 4 months and has burst in recent days.

According to the information, the best month for NFTs was May. Specifically, May 3 was the best day in the volatile market, when $102 million in expenses were recorded in just one day, of which $100 million was generated solely from the collectibles market.

You do not know what NFTs are, we leave you a video with a clear explanation.

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Are NFTs a thing of the past?

The interesting thing is that interest in this market is declining, since last week there was only an expense of $19.4 million, and in 7 days after its peak in popularity, there were only $170 million in transactions, which means that the numbers collapsed 90 %.

The decline was particularly noticeable in the art sector, which helped popularize this trend. While there has been more sustained and lasting interest in other fields, such as video games (which rose and fell suddenly within days), their popularity is seen to be declining.

In case you missed it: SEGA has announced that it will enter the NFT market.

in info Brutus It was revealed that active portfolios (with which transactions take place in the NFT market) were from 12,000 units in each category per day to just 3,900 units on June 1, which is a 70% decrease.

Until last week, the best-selling sector was the collectibles sector, followed by the collectibles sector and in third place the sports sector, which has already replaced the art sector. Interest in video game NFTs is minimal and it seems that there was only interest in them when the trend started.

Photo: NonFungible (via Protos)
Photo: NonFungible (via Protos)

What do you think of this information? Do you think NFTs will recover and the trend will continue? Tell us in the comments.

You can find more news related to this phenomenon in the market if you visit this page.

Stay informed with us, at LEVEL UP.

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