Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

DAC and Origo Partner to transform health care via Web3 Innovation

2025-05-11

XRP -price flashes Death Cross from 2017 that could activate 325% Rally to $ 9

2025-05-11

Asset Management Giant BlackRock held a meeting with SEC to discuss Crypto institution, tokenization and more

2025-05-11
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    DAC and Origo Partner to transform health care via Web3 Innovation

    2025-05-11

    Tether to make non-right wallet template: Details

    2025-05-11

    Map -Protocol reveals revolutionary interoperability between Bitcoin and Solana networks

    2025-05-11

    DAC -Platform to redefine Web3 experiences in strategic cooperation with Fishcake Labs

    2025-05-11

    Floki Inu enables Web3 users with a new identity platform

    2025-05-11
  • NFT

    Drink-to-earn? A new sparkling water comes with an NFT and points

    2025-05-08

    Cobie says we will return if someone buys this $ 20 million NFT

    2025-05-08

    Edge Matrix, Colabs Partner to strengthen NFT -Makers

    2025-05-08

    Argentinian football club Partners with StepN to launch digital sneakers

    2025-05-05

    Pudgy Penguins #6873 Leads with Top NFT -sale worth $ 360.2k

    2025-05-04
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Standard Chartered Analy supports Bitcoin -Price forecast, now calls $ 120,000 BTC ‘Too Low’: Report

    2025-05-11

    Bullish Continuation for XRP price shows possible recovery up to $ 4

    2025-05-11

    Top US Crypto Exchange Coinbase to acquire Derivativa Platform Deribit

    2025-05-10

    Bitcoin – Price is rising by $ 100k – Bull Market officially back?

    2025-05-10

    JPMorgan Chase warns US shares ‘Not a good place to verbat’ as billionaire Paul Tudor Jones Braces for fresh market Lows

    2025-05-10
  • Learn

    What Is Proof-of-Authority (PoA)?

    2025-05-10

    What Is Proof-of-Stake (PoS)? A Beginner’s Guide

    2025-05-09

    What Is a Layer-1 (L1) Blockchain?

    2025-05-03

    What is a Layer-2 (L2) Blockchain Network Solution?

    2025-05-02

    What Is a Layer-0 Protocol?

    2025-05-02
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»NFT»Turnover is plummeting across the board
NFT

Turnover is plummeting across the board

2024-07-01No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Non-fungible tokens (NFTs), once hailed as the future of digital collectibles, saw a sharp decline in June. According to crypto analytics platform Artemis, the NFT sector recorded the worst performance of the 21 sectors, with a staggering 51.5% decline.

This trend raises concerns about the sustainability of the NFT market.

Sales Slump on Major Blockchains: Can NFTs Bounce Back?

The decline is further evidenced by data from CryptoSlam, which shows a 46.03% decline in NFT sales volume, amounting to $480 million over the past 30 days. Major blockchains like Ethereum, Bitcoin and Solana saw NFT sales drop by 38% to 50%. This significant decline has led to speculation about the causes of the waning enthusiasm for NFTs.

Read more: How to Start NFT Trading: A Step-by-Step Guide

Crypto sector performance. Source: Artemis

Several factors contribute to the current state of the NFT market. Paul Thomas, founder and CEO of Somnia, noted that the initial hype surrounding NFTs has subsided.

“Utility is becoming more important than ever for NFTs. […] One of the big problems with NFTs is that everyone is just trying to repeat and copy what was successful before. […] For projects to have real impact, they need to do something exciting and original, rather than just following the hype,” said Thomas.

Adding to the challenges, the floor price of prominent NFT collections such as Bored Ape Yacht Club (BAYC) fell below 10 ETH earlier in June. This dip was further exacerbated by notable figures such as Mark Cuban removing multiple NFTs from their collections. These actions raised further concerns about the long-term viability of the NFT market.

See also  This may not get the masses on board with Web3, but boy is it interesting!

NFT sales volume. Source: CryptoSlam

Despite the downturn, the NFT sector is not entirely gloomy. Some collections, such as Pudgy Penguins and Milady Maker, saw a significant increase in sales volume. Additionally, the Ronin blockchain saw a notable increase in NFT sales, indicating that certain niches within the market are still thriving.

Taha Abbasi, CTO of Ferrum Labs, also believes that the NFT sector will likely gain attention again as the industry develops. He believes some of the top innovators in the NFT industry, such as Yuga Labs and Igloo, are strategizing to re-enter the market.

“Maybe the days of overhyped pixelated NFTs are over, and another media integration or innovation could soon put digital collectibles in the spotlight. NFT innovators need to do something drastic to keep the niche afloat,” he told BeInCrypto.

Read more: 7 Best NFT Marketplaces You Need to Know About in 2024

This insight and the resilience of certain collections and platforms offer hope. While the broader market may be struggling, these dynamics suggest that specific projects and platforms can still attract interest and investment.

Source link

Board Plummeting turnover
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Drink-to-earn? A new sparkling water comes with an NFT and points

2025-05-08

Cobie says we will return if someone buys this $ 20 million NFT

2025-05-08

Edge Matrix, Colabs Partner to strengthen NFT -Makers

2025-05-08

Argentinian football club Partners with StepN to launch digital sneakers

2025-05-05
Add A Comment

Comments are closed.

Top Posts

DOJ Definitations crypto unit, claims that Biden Administration Branch has used for ‘reckless’ regulation

2025-04-08

Why BNB Chain Development Couldn’t Bring BNB Back to Life

2023-10-18

Can SuperVerse [SUPER] break past $1.60, trigger the next bull run?

2024-10-16
Editors Picks

Donald Trump to Mint NFTs on Bitcoin Ordinals, Details Here

2024-01-19

Kraken’s NFT Marketplace Launch, Formula 1 Partnership & Beyond

2023-06-12

Wallets linked to President Trump’s World Liberty Financial Selling Ethereum in loss: Lookonchain

2025-04-10

Galaxy Research Reveals Bitcoin, Ether, and Dogecoin Price Projections in 2025 Crypto Forecast

2024-12-28
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

DAC and Origo Partner to transform health care via Web3 Innovation

XRP -price flashes Death Cross from 2017 that could activate 325% Rally to $ 9

Asset Management Giant BlackRock held a meeting with SEC to discuss Crypto institution, tokenization and more

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$104,444.561.18%
  • ethereumEthereum(ETH)$2,509.950.68%
  • tetherTether USDt(USDT)$1.000.01%
  • rippleXRP(XRP)$2.37-1.52%
  • binancecoinBNB(BNB)$652.01-0.25%
  • solanaSolana(SOL)$172.430.02%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.231161-1.77%
  • cardanoCardano(ADA)$0.81-0.39%
  • tronTRON(TRX)$0.2640371.28%
  • suiSui(SUI)$4.010.48%
  • chainlinkChainlink(LINK)$16.950.72%
  • avalanche-2Avalanche(AVAX)$24.710.30%
  • stellarStellar(XLM)$0.3076080.73%
  • shiba-inuShiba Inu(SHIB)$0.000016-0.09%
  • hedera-hashgraphHedera(HBAR)$0.204952-3.31%
  • the-open-networkToncoin(TON)$3.36-0.39%
  • hyperliquidHyperliquid(HYPE)$24.75-2.34%
  • bitcoin-cashBitcoin Cash(BCH)$410.29-2.31%
  • polkadotPolkadot(DOT)$5.110.59%
  • unus-sed-leoUNUS SED LEO(LEO)$8.37-2.07%
  • piPi(PI)$1.0947.15%
  • litecoinLitecoin(LTC)$100.25-2.99%
  • moneroMonero(XMR)$337.705.21%
  • bitget-tokenBitget Token(BGB)$4.870.40%
  • pepePepe(PEPE)$0.0000131.38%
  • daiDai(DAI)$1.00-0.01%
  • ethena-usdeEthena USDe(USDE)$1.000.01%
  • uniswapUniswap(UNI)$6.920.80%
  • bittensorBittensor(TAO)$453.170.53%
  • nearNEAR Protocol(NEAR)$3.151.29%
  • aptosAptos(APT)$5.901.39%
  • aaveAave(AAVE)$219.74-2.01%
  • okbOKB(OKB)$55.140.22%
  • ondo-financeOndo(ONDO)$1.04-1.87%
  • kaspaKaspa(KAS)$0.1174138.34%
  • internet-computerInternet Computer(ICP)$5.732.80%
  • ethereum-classicEthereum Classic(ETC)$19.89-0.64%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.78-3.68%
  • render-tokenRender(RENDER)$5.21-0.74%
  • mantleMantle(MNT)$0.802.99%
  • gatechain-tokenGateToken(GT)$21.82-1.97%
  • vechainVeChain(VET)$0.0311540.08%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.256356-2.15%
  • crypto-com-chainCronos(CRO)$0.098495-2.54%
  • ethenaEthena(ENA)$0.4083564.77%
  • arbitrumArbitrum(ARB)$0.4536972.16%
  • usd1World Liberty Financial USD(USD1)$1.000.00%
  • filecoinFilecoin(FIL)$3.160.56%
  • cosmosCosmos(ATOM)$5.292.70%
  • bitcoinBitcoin(BTC)$104,444.561.18%
  • ethereumEthereum(ETH)$2,509.950.68%
  • tetherTether USDt(USDT)$1.000.01%
  • rippleXRP(XRP)$2.37-1.52%
  • binancecoinBNB(BNB)$652.01-0.25%
  • solanaSolana(SOL)$172.430.02%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.231161-1.77%
  • cardanoCardano(ADA)$0.81-0.39%
  • tronTRON(TRX)$0.2640371.28%
  • suiSui(SUI)$4.010.48%
  • chainlinkChainlink(LINK)$16.950.72%
  • avalanche-2Avalanche(AVAX)$24.710.30%
  • stellarStellar(XLM)$0.3076080.73%
  • shiba-inuShiba Inu(SHIB)$0.000016-0.09%
  • hedera-hashgraphHedera(HBAR)$0.204952-3.31%
  • the-open-networkToncoin(TON)$3.36-0.39%
  • hyperliquidHyperliquid(HYPE)$24.75-2.34%
  • bitcoin-cashBitcoin Cash(BCH)$410.29-2.31%
  • polkadotPolkadot(DOT)$5.110.59%
  • unus-sed-leoUNUS SED LEO(LEO)$8.37-2.07%
  • piPi(PI)$1.0947.15%
  • litecoinLitecoin(LTC)$100.25-2.99%
  • moneroMonero(XMR)$337.705.21%
  • bitget-tokenBitget Token(BGB)$4.870.40%
  • pepePepe(PEPE)$0.0000131.38%
  • daiDai(DAI)$1.00-0.01%
  • ethena-usdeEthena USDe(USDE)$1.000.01%
  • uniswapUniswap(UNI)$6.920.80%
  • bittensorBittensor(TAO)$453.170.53%
  • nearNEAR Protocol(NEAR)$3.151.29%
  • aptosAptos(APT)$5.901.39%
  • aaveAave(AAVE)$219.74-2.01%
  • okbOKB(OKB)$55.140.22%
  • ondo-financeOndo(ONDO)$1.04-1.87%
  • kaspaKaspa(KAS)$0.1174138.34%
  • internet-computerInternet Computer(ICP)$5.732.80%
  • ethereum-classicEthereum Classic(ETC)$19.89-0.64%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.78-3.68%
  • render-tokenRender(RENDER)$5.21-0.74%
  • mantleMantle(MNT)$0.802.99%
  • gatechain-tokenGateToken(GT)$21.82-1.97%
  • vechainVeChain(VET)$0.0311540.08%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.256356-2.15%
  • crypto-com-chainCronos(CRO)$0.098495-2.54%
  • ethenaEthena(ENA)$0.4083564.77%
  • arbitrumArbitrum(ARB)$0.4536972.16%
  • usd1World Liberty Financial USD(USD1)$1.000.00%
  • filecoinFilecoin(FIL)$3.160.56%
  • cosmosCosmos(ATOM)$5.292.70%