96% of Non-Fungible Tokens (NFTs) Are ‘Dead’: Details Here
The non-fungible token (NFT) market has been volatile since its big launch, with rapid growth followed by significant declines, leaving many investors in a state of uncertainty.
Despite the initial hype surrounding the market and the massive investments that followed, NFTs are now facing significant challenges related to instability and price volatility.
According to a report by “nftevening.com”, 96% of NFTs are considered “dead” based on three key indicators:
Zero trading volume.
Low sales over a seven-day period.
Lack of activity on social media platforms, such as Twitter.
NFT market decline:
Based on an analysis conducted by “nftevening”, which included examining more than 5,000 NFT collections and 5 million transactions from the NFTScan platform, it was found that 43% of NFT owners are currently in an unprofitable position.
In addition, the average lifespan of an NFT is 1.14 years, which is about 2.5 times shorter than that of traditional cryptocurrency projects. This short lifespan underscores the speculative nature of the NFT market, as many digital assets fail to maintain their value in the long term due to rapid price fluctuations and poor sustainability of investment appeal.