30Mar/22Off
NFT Collection Failures Begin to Mount in Flashback to ICO Bust
On average, one in three NFT collections have essentially expired, with little or no trading activity, blockchain analytics firm Nansen found. Another third are trading below the amount it cost issuers to mint the tokens. ...
Demand also appears to be concentrated. The number of repeat buyers outweigh new entrants by a ratio of seven-to-one, according to Nansen. ...
NFTs that have ceased to generate interest on trading platforms might still serve a broader purpose, much like the rest of the art and collectibles world. ... they are just memories from the past, and that’s it.”
See the full story here: https://www.bloomberg.com/news/articles/2022-03-26/nft-collection-failures-begin-to-mount-in-flashback-to-ico-bust
