NFT Sales Drop 83% In A Year ($2.37bn Drop In Revenue) – Yahoo Finance
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Like most cryptocurrency projects, 2022 marked a tough year for non-fungible tokens during crypto winter.
Using data compiled from Non Fungible, the NFT experts at Casinos En Ligne have analyzed the change in NFT sales revenue and volume over the past year.
NFT sales saw a downfall of 83 percent year-over-year in 2022, as some exchanges were forced to freeze cryptocurrency assets, including digital collectibles.
Across all the markets including art, gaming, and collectibles, NFT transaction volume has fallen at least 83 percent.
Check out the highlights from the data below.
NFT Sales Decline 83% In 2022 ($2.37bn Drop In Revenue YoY)
The NFT boom appears to be over.
According to data compiled from Non Fungible, the volume of NFT sales has dropped 83 percent year-over-year from January 2022 to January 2023.
The NFT space surged to an all-time high in January 2022 with monthly sales reaching $2.8 billion but that number has since dropped to a mere $492 million in January 2023, a decline of 83 percent.
Several different types of NFT projects have been affected by the decline in sales, including art, collectibles, and games.
NFT Art Sales Drop By $120m In A Year (-87% In Revenue)
The Web3 space has faced some challenging times over the past year but some sectors have been more affected than others.
In particular, the NFT art sector has taken a major hit during crypto winter.
NFT art sales have been steadily dropping over the past year. The number of