According to a study by experts at Casinos En Ligne, Non-Fungible Tokens (NFTs) experienced the same downturn the cryptocurrency market faced in 2022. NFT sales dropped 83% year-over-year in 2022, due to the asset freezes some cryptocurrency exchanges faced.
Since the drop in Ethereum and Bitcoin, many consumers lost faith in digital assets, resulting in declined interest for NFT art, collectibles, and games. In total, the NFT market lost $2.37 billion in revenue between January 2022 and January 2023.
“While....