NFT Market Update: Major Collections Suffer Price Slump in 2023

2023-5-30 18:30

The non-fungible token (NFT) industry has become a trending digital asset sector. The sector gained significant traction from investors worldwide over the past two years. Even during the extended bearish market of 2022, the industry thrived, gaining more sales volume than in 2021.

However, the trend seems to be changing, with many collections recording important losses in 2023. 

Top NFT Collections In 2022 Lose Their Value in Ether

In 2022, the NFT industry sales volumes rose to impressive heights surpassing the records of 2021. However, most of these popular NFTs lost their value in Ether this 2023.

A crypto analyst, HashBastards NFTs, took to Twitter to list some of the top NFT collections in 2022 that have lost massively this year. 

These NFTs include Invisible Friends, Doodles, Goblintown, Moonbirds, and others. According to the post, these NFTs have lost over 95% of their value in Ether this 2023.

The community-centered collection, Doodles, shows a significant loss between 2022 and 2023. The NFT collections floor price dropped from 23 ETH to 2.3 ETH, indicating a decline of over 90%. 

Data from the popular NFT marketplace, OpenSea, confirms that the Doodles’ floor price is currently at 2.0089 ETH, worth $3,828.92 based on the current market price. 

Other NFTs, Invisible Friends fell from 8 ETH to 1.15 ETH; Moonbirds now stands at 2 ETH, dropping from its 2022 value of 32 ETH, while Goblintown declined from 6 ETH to 0.26 ETH. 

NFTs Are Drawing More Attention Amid Declining Prices

NFTGo released its quarterly report tagged ‘2023 Q1 NFT Market Analysis: An Insider Look’. The report noted that the bearish crypto market trend toward the end of 2022 impacted the NFT space.

Subsequently, blue-chip NFT collections plummeted by more than 40% of their value. The Blue Chip Index declined from its year high of 12,394 ETH in July 2022 to 7,446 ETH in 2023.

However, despite the drastic drop in the value of NFT collections, some investors see the price decline as the right opportunity to accumulate. At the same time, some think it is over for the sector. 

NFTGo data indicated that these holders grew by 90% over the past 12 months. According to the data, while sellers surged 32%, buyers dropped 30%.

Also, new investors are still moving into this space. Peter Schiff, a crypto skeptic, rolled out an NFT project on the Bitcoin blockchain through Ordinals on May 27.

The collection sale will pass through a two-staged auction between June 2 and June 9. The collection, known as ‘Golden Triumph,’ represents a human hand with a bar of gold.

Featured image from Pixabay and chart from TradingView

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Vice Industry Token (VIT) на Currencies.ru

$ 9.59E-5 (+0.36%)
Объем 24H $8
Изменеия 24h: 0.01 %, 7d: -71.49 %
Cегодня L: $9.59E-5 - H: $9.59E-5
Капитализация $276.56k Rank 99999
Доступно / Всего 2.884b VIT

industry nft sector market extended even bearish

Источник: newsbtc.com

industry nft → Результатов: 126


NFT Investments PLC First Investment Made in Leading Luxury Fashion Technology Firm AEON Executive Board and Management Team to be Paid in Cryptocurrency

NFT Investments, a company specializing in the identification, acquisition, investment, and  development of non-fungible tokens(“NFTs”), is pleased to announce it has made its maiden investment  by acquiring a stake in AEON International, a leading developer of cutting-edge technology for the  luxury fashion industry.

2021-4-23 17:21


Фото:

Torum Closes Million Dollars Private Round to Create The First Social Media Platform with NFT & DeFi Innovations

Torum, a social media platform specially designed for cryptocurrency users, is proud to announce that the project is now backed by some of the most promising VCs in the crypto industry. The $1.45M private round was participated by 13 private investors which consist of  AU21 Capital, Momentum 6, Lotus Capital, Consensus Lab, Redline Blockchain Capital,Read More

2021-4-21 14:07


Torum Raises $1.45M to Create The First Social Media Platform with NFT & DeFi Innovations

Torum, a social media platform specially designed for cryptocurrency users, is proud to announce that the project is now backed by some of the most promising VCs in the crypto industry. The $1.45M private round was participated by 13 private investors which consist of  AU21 Capital, Momentum 6, Lotus Capital, Consensus Lab, Redline Blockchain Capital, […]

2021-4-21 13:59


VR Content Platform Dvision Network to Auction Crypto Celebrity Avatar and Other Limited-Edition NFTs

Dvision Network, the blockchain-based virtual reality (VR) content ecosystem, has announced the introduction of five limited-edition NFT characters, to be auctioned later this month. These NFTs are the first among many unique tokens to be introduced by the project as it continues to enhance the VR industry.

2021-3-23 15:51


Фото:

Crypto user offers to buy Elon Musk’s NFT tweet for $100,000

The crypto industry constantly sees new trends coming and going. Two years ago, IEOs were the most popular thing around, while last year, the DeFi sector became a trend. These days, in March 2021, it appears that it is time for NFTs to rise, and so far, they have already caused some interesting reactions from […] The post Crypto user offers to buy Elon Musk’s NFT tweet for $100,000 appeared first on Invezz.

2021-3-17 14:55


ChainGuardians seeks to Transform the Gaming Industry with its Blockchain & Player-centric Economy

ChainGuardians is a platform that combines traditional gaming concepts with blockchain technology to enable player-driven economies. Players can participate in the free-to-play Non-Fungible Tokens (NFT) mining platform and role playing game; both of which allow players to earn income, turning their time and energy into tangible rewards.

2021-2-16 21:24


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

BAYC's 3-year low: Will NFT markets see a revival in 2024?

The floor price of Bored Ape now sits at a three-year low. CryptoPunks’ floor price has declined to its lowest since July 2023. The floor price of the leading non-fungible token (NFT) projThe post BAYC's 3-year low: Will NFT markets see a revival in 2024? appeared first on AMBCrypto.

A Leading DeFi Bull Indicator? MetaMask Registers Over 30 Million In 5 Months

MetaMask monthly active users (MAUs) currently stand at over 30 million, a near 2X surge from around 19 million recorded in September 2023.   This uptick could be a huge positive indicator of growing activity around non-custodial activities, including decentralized finance (DeFi) and non-fungible token (NFT) minting.