NFT: Sales down, but the market hasn’t imploded yet

    News from the digital and NFT world – 09 JUNE 2021

    Every day, Art Rights Magazine selects the best news from the world of digital art, to stay up to date!

    NFT: Sales down, but the market hasn’t imploded yet

    According to some analyzes, the NFT market imploded and then collapsed during the month of May.

    NFT sales peaked on May 3, when $ 102 million in cryptocurrencies were traded, only to drop sharply at the end of the month when 90% lower earnings were recorded with $ 19.4 million in trading volume.

    However, it must be said that just May 3 was the day in which 9,000 Meebits crypto collectible crypto were put up for sale and this caused the trading volume to rise considerably.
    The study was called “completely misleading” by Nonfungible.com, a website that tracks transactions related to NFTs on the Ethereum blockchain, assuming that the analyzes could have the sole purpose of revealing a hypothetical and false bursting of the speculative bubble.

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