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Cryptopolitan 2021-09-22 11:29:15

Are sell volume signals an Indication of a dying NFT market?

TL;DR Breakdown There has been an increase in the volume of sales of NFTs.Low-priced assets of low prices are rarely exchanged.Many investors and interested parties have aired concerns about the future of NFT.  In a quest to become mainstream in commerce and business in general, there has been an increase in the volume of sales of Non-fungible tokens. Investors who had minted past pieces like CryptoPunks in 2018 had their wallets ‘fattened’ as they fetched a high price due to their rarity. Collectables minted more recently in sites like Bored Ape Yacht Club and Art Blocks Curated were traded for millions of dollars. There were high volumes recorded on different platforms that act as marketplaces for NFTs. However, regardless of the high volume of sales made, research shows that assets of low prices were rarely exchanged. According to Bloomberg, 73.17% of NFTs on OpenSea did not change possession in the past 90 days; and if they did, there was only one transaction made.  The number of transactions made on OpenSea by Bloomberg To achieve a sale, investors put in up to $100 to mint to create a hype around it to attract sales. NFTs that are priced low seem to be of low value. The collections become meaningless as nobody buys them. For an investor not to miss a chance on sales, they must be at the right place at the right time to get the correct information. Is the NFT market dead? There has been a significant reduction in th...

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