{"id":266174,"date":"2021-06-03T18:55:09","date_gmt":"2021-06-03T15:55:09","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nft-bubble-popping-with-sales-reportedly-dropping-90-percent\/"},"modified":"2021-06-03T18:55:09","modified_gmt":"2021-06-03T15:55:09","slug":"nft-bubble-popping-with-sales-reportedly-dropping-90-percent","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nft-bubble-popping-with-sales-reportedly-dropping-90-percent\/","title":{"rendered":"#NFT bubble popping, with sales reportedly dropping 90 percent"},"content":{"rendered":"

“#NFT bubble popping, with sales reportedly dropping 90 percent<\/strong>”<\/p>\n

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The NFT craze app<\/a>ears to be fading fast, with sales collapsing by nearly 90 percent over the past month, according to new data.\u00a0<\/p>\n

The market for so-called \u201cnon-fungible tokens\u201d \u2014 one-of-a-kind, verifiable digital assets that grabbed headlines when Sotheby\u2019s sold an NFT by the artist Beeple for $69 million \u2014 peaked on May 3 with $102 million of sales in a single day, according to a Wednesday report.<\/p>\n

That was during a frenzied week that racked up $170 million sales in total, according to an analysis published Wednesday<\/a> by crypto news<\/a> site Protos.\u00a0<\/p>\n

By contrast, a middling $19.4 million in NFT sales were processed in the entire past week, according to the site.\u00a0That\u2019s a month-over-month drop of 89 percent \u2014 and a big embarrassment for NFTs, which have racked up big price tags for everything from old YouTube<\/a> videos to tweets, and which auctioneers at Sotheby\u2019s recently said represent \u201ca new flowering of human creativity.\u201d\u00a0<\/p>\n

\"Creating
The number of users buying and selling NFTs has also plummeted by about 70 percent.<\/figcaption>
REUTERS<\/span><\/figcaption><\/figure>\n

The number of users buying and selling NFTs has also plummeted by about 70 percent. There were 3,900 active crypto wallets on Tuesday, compared to more than 12,000 in early May, according to the report.\u00a0<\/p>\n

But while NFT art has received the most mass attention, the NFT \u201ccollectibles\u201d market has proven more resilient, according to the report. Collectibles like \u201cCryptoPunks\u201d and \u201cHashmasks\u201d clocked $9.2 million in sales during the last week, compared to $3 million of NFT art.\u00a0<\/p>\n

The news comes on the same day that Sotheby\u2019s begins a weeklong auction of the world\u2019s first known NFT, a simple red, blue and pink image from 2014.\u00a0<\/p>\n

\"NFTs\"
The news represents a dramatic decline for NFTs, which big-wig auctioneers Sotheby\u2019s recently said represent \u201ca new flowering of human creativity.\u201d <\/figcaption>
EPA<\/span><\/figcaption><\/figure>\n<\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#NFT bubble popping, with sales reportedly dropping 90 percent” The NFT craze appears to be fading fast, with sales collapsing by nearly 90 percent over the past month, according to new data.\u00a0 The market for so-called \u201cnon-fungible tokens\u201d \u2014 one-of-a-kind, verifiable digital assets that grabbed headlines when Sotheby\u2019s sold an NFT by the artist Beeple…<\/p>\n","protected":false},"author":1,"featured_media":266175,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/06\/nft-down-90-hp.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[95118,108162,76127,70535],"class_list":["post-266174","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-nft","tag-6-3-21","tag-cryptocurrency","tag-sothebys"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/266174","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=266174"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/266174\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/266175"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=266174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=266174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=266174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}