The non-fungible token (NFT) industry has become a trending sector for digital assets. The sector has gained significant traction from investors around the world over the past two years. Even during the extended bear market of 2022, the industry is thriving, picking up more sales volume than it did in 2021.
However, the trend appears to be changing, with many groups posting significant losses in 2023.
The best NFT pools in 2022 are losing value in the ether
In 2022, the NFT industry Sales volumes increased To impressive heights that surpassed the records of 2021. However, most of these popular NFTs lost their value in Ether in 2023.
cryptanalyst, HashBastards NFTstook to Twitter to list some of the best NFT pools in 2022 that have been missing big this year.
NFTs include Invisible Friends, Doodles, Goblintown, Moonbirds, and more. According to the post, these NFTs have lost more than 95% of their value in ether this year 2023.
The community-centric group, Doodles, shows a significant loss between 2022 and 2023. The price of minimum NFT pools has dropped from 23 ETH to 2.3 ETH, indicating a decline of more than 90%.
Data from the famous NFT market, open cconfirms that the price of the minimum doodle is currently at 2.0089 ETH, He deserves $3,828.92 based on the current market price.
Other NFTs, Invisible Friends dropped from 8 ETH to 1.15 ETH; Moonbirds now stands at 2 ETH, down from its 2022 value of 32 ETH, while Goblintown has fallen from 6 ETH to 0.26 ETH.
NFTs are attracting more interest amid falling prices
NFT Go released Its quarterly report is tagged “2023 Q1 NFT Market Analysis: An Insider Look”. The report indicated that the crypto market bearish trend towards the end of 2022 affected the NFT space.
Subsequently, premium NFT pools have fallen by more than 40% of their value. The Blue Chip Index has fallen from a year high of 12,394 ETH in July 2022 to 7,446 ETH in 2023.
However, despite the sharp decline in the value of NFT pools, some investors Look at the price drop as an opportunity to accumulate. At the same time, some thought It’s over for the sector.
NFTGo Data Shown That these holders have grown by 90% over the past 12 months. According to the data, while sellers are up 32%, buyers are down 30%.
Also, new investors are still moving into this space. Peter Schiff, crypto-skeptic, rolled NFT project on the Bitcoin blockchain by The Ordinals on May 27.
The collection will be sold during a two-stage auction between June 2 and June 9. The group, known as the “Golden Victory”, represents a human hand with a gold bar in it.
Featured image via Pixabay and chart from TradingView