Blue-chip collections witnessed a sharp drop in floor prices.
Non-fungible tokens entered mainstream consciousness in a big way in 2021. Sales of popular collections skyrocketed and the frenzy caught on with who’s who of the glamour and entertainment world. The excitement continued in 2022 and despite a weaker second half, the NFT sales count recorded a 67.
On a year-to-date basis, the total NFT volume rose only by 11%. On the other hand, the total cryptocurrency market cap managed to clock a growth of 48% in the same time period, according to . This was a clear indication that the NFT vertical was detached from the gains in the digital assets market.
Source: News Formal (newsformal.com)
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