NFT Market: From Hype to Hibernation? 💤

- The once-booming NFT market is now facing major challenges. According to a report from nftevening.com, 96% of NFTs are considered “dead” due to zero trading volume, a minimum 7-day sale, and inactivity on Twitter.

- Out of 5,000 NFT collections studied, 43% of NFT owners are currently losing money. The average lifespan of an NFT is only 1.14 years, much shorter than traditional crypto projects.

- The Azuki collection is the most profitable with its holders earning 2.3 times their initial investment. Meanwhile, the Pudgy Penguins collection suffered a drastic loss of up to 97%.

- The NFT market that was once dominated by OpenSea is now an oligopoly with new players such as Blur, OKX, and Tensor gaining significant market share.

What do you think about the future of NFT? Let's discuss in the comments column!