Nfts
NFT market crash: trading volume drops 97% since 2021
Once known for its digital art and collectibles bringing in millions, the NFT market is now almost deserted. Trading volume has dropped 97% since 2021 and, surprisingly, around 95% of NFT projects have no market value. Currently, NFT sales are struggling to surpass the $200 mark, a far cry from the multi-million dollar transactions of the past. The 2021 frenzy may have been driven by media hype. Factors such as the crypto winter, economic uncertainty, and geopolitical tensions have contributed to this decline. However, retail investors willing to take high risks could still breathe new life into the market.