The once “remarkable” innovations are down almost 100% from their record-breaking highs. NFTs will explode significantly in 2021 and continue until 2022. Huge numbers of VIPs attended and pushed what has inevitably and consistently become a trick project.
OpenSea’s trading volume peaked at $2.7 billion. Volume was below his $10 million mark for most of September. This is a drop in volume from pristine highs to near 100%. Bitcoin trading volume is consistently around $20 billion after the drop.
In fact, perhaps even the biggest NFT games like Axie Limitlessness and The Sandbox are rapidly declining. Whether or not you’ve spent the amount of money needed to generate reasonable rewards in these games, it’s no longer profitable. There’s no trading volume, costs are downfall, and gas bills are still horrendous.
Many will admit that this is just another bear market-like phase, but it probably isn’t. Nearly 100% declining doesn’t really fit that assumption. Also, even after the collapse, Bitcoin volume is consistently around $20 billion. At its peak, it was about $50 billion. It’s still a drop, but it’s still a huge amount, so it’s hard to claim dead because there’s still a lot of cash involved, and in the financial world he’s $10 million Nothing in the truest sense of the word. I don’t know of a single S&P 500 stock that generally trades below $10 million. As a matter of fact, most individual stocks can hit millions on a bad day.
At that point, the question many may be asking: Are NFTs dead? In fact, even the absolute biggest NFT games like Axie Endlessness and The Sandbox are rapidly eating dust. Whether or not you’ve spent as much money on these games as you need to to generate reasonable rewards, it’s no longer profitable with no trading volume, lower costs, and gas bills still terrible.Axie Vastness Max of players were actually Filipino individuals playing to increase their income due to the coronavirus, but individuals won’t play the game if it’s not productive (and the game isn’t fun) Axie Vastness showed off a huge dynamic player of 2.7 million in November 2021. That number is now down to about 700,000 per month, representing a drop of about 75% in less than a year.
The underlying digital form of money associated with these NFT games is relatively costly. The Sandbox cryptocurrency, SAND, has fallen to $0.82 per token, down 90% from its all-time high. Axie limitlessness token is down another 90% from its high. After a huge security break in Axie Limitlessness, NFTs were won for countless dollars, then most of the basic NFTs were sold for a penny a dollar, and local area costs also failed nicely and have since recovered. not. Floor costs peaked at $340 and are now only $6.
Axie Vastness showed off a huge dynamic player of 2.7 million in November 2021. That number is now down to about 700,000 monthly players.
NFT has neglected to find a solid use case. Also, since each exchange requires cash, most people stop involving her NFTs in basic exchanges such as tickets and registration. Any run of NFT should be about as possible without NFT.