sales plummeting from $ 12 billion to $ 1 billion in six months!

NFT sales are dropping dramaticallya major drop from $ 12.6 billion to $ 1 billion in just six months and this resulted in a large slowdown in the cryptocurrency market.

According to cryptocurrency research firm Chainalysis, NFT sales have hit just over $ 1 billion in June. The minimum peak is still far away – A July 2021 recorded the worst time for NFT sales with $ 648 million compared to a peak of $ 12.6 billion this January.

According to the economist of Chainalysis Ethan McMahonthe slowdown in NFT sales is linked to the decline in the cryptocurrency market: “This decline is certainly related to the biggest slowdown in cryptocurrency markets“. According to McMahon, there is also a dramatic drop in the total value of the digital coin market. From 3 trillion dollars (recorded in November) to a third of that value today: one trillion dollars.

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During the month of May 2022 there was talk of a decline in interest in NFTs; as reported by NonFungible, sales fell by 92% compared to last year’s peak.

Meanwhile, Polium One will arrive in 2024, the console produced by the Polium company that has a curious goal: work through Blockchain and NFT technologies.

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Source: VGC