Read from VGC:
According to crypto research firm Chainalysis, sales of NFTs reached just over $1 billion (£830 million) in June.
It marks the worst month for NFT sales since June 2021 ($648m) and follows a peak of $12.6 billion recorded in January.
“This decline is definitely linked to the broader slowdown in crypto markets,” he said.
“Times like this inevitably lead to consolidation within the affected markets, and for NFTs we will likely see a pullback in terms of the collections and types of NFTs that reach prominence.”
According to crypto research firm Chainalysis, sales of NFTs reached just over $1 billion (£830 million) in June.
It marks the worst month for NFT sales since June 2021 ($648m) and follows a peak of $12.6 billion recorded in January.
“This decline is definitely linked to the broader slowdown in crypto markets,” he said.
“Times like this inevitably lead to consolidation within the affected markets, and for NFTs we will likely see a pullback in terms of the collections and types of NFTs that reach prominence.”
