According to a recent study, non-fungible token (NFT) sales have dive-bombed 90% since the market’s record sales on May 3. Market data shows over 130,000 NFT sales that day and 30 days later sales are down to a touch over 84,000, dropping more than 35% last month.
Protos.com Study Claims ‘NFT Bubble Has Popped’
Non-fungible tokens (NFTs) have been all the rage in 2021 and sales continue to this day. However, a recent study published by protos.com indicates that NFT sales have been dropping and NFT sale values have plummeted as well. The report shows that last month $102 million in NFTs were sold on May 3 and the latest seven-day data shows only “$19.4 million in NFT sales were processed in the past week.”
The protos.com study shows the NFT ecosystem saw a 90% drop from the May 3 high and only a few projects are continuing to sell.
Weekly data via nonfungible.com
Currently, projects like Cryptopunks