Believe it or not, a Bloomberg report revealed the average price for a single non-fungible token (NFT) has slipped to $ 1,400 starting over the past few weeks.
While records from nonfungible.com show prices for digital collections fell by 70% after hitting an all -time high (ATH) at the end of February.
On February 22, the average price for one NFT was over $ 4,000. The last time its value was at its highest was on March 11, above $ 3,600. Coincidentally it was recorded on the same day of the $ 69 million purchase of Beeple digital art by Metapurse founder MetaKovan.
It is no exaggeration to conclude the NFT market is currently in a bearish phase. However, analysts dismiss this trend as a bubble.
University of Pittsburgh scholar and leading blockchain publishing editor Chris Wilmer revealed his confidence in the rate of public interest in the NFT is nearing its end.
“NFT is no longer in a bubble compared to cryptocurrencies are a bubble. There will be more madness and irrational excitement. But, cryptocurrencies will obviously remain for a long time, as will NFT. ”
The year 2021 saw more blockchains have launched projects focusing on NFT. For example the first environmentally friendly NFT market introduced by Tezos (XTZ).
Not to forget also the largest exhibition of digital art managed by renowned Russian and Chinese institutions, including the State Hermitage Museum in St. Petersburg. Petersburg.
