Technology NFT Sales Have Lost Nearly All Their Allure - Data shows that non-fungible token trading volume has slid 97% since the beginning of 2022

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Crypto-focused folks are having a harder time getting any money for their gross, insultingly derivative Bored Apes and dull-eyed, featureless 8-bit faces of CryptoPunks, according to crypto analytics data.

Bloomberg first reported on data hosted on Dune Analytics that showed trading volume for NFTs has gone from $17 billion to just $466 million from January to September this year. That’s a precipitous 97% drop in just nine months. The data was collected from NFT trading platforms including OpenSea, NFTX, LarvaLabs, LooksRare, SuperRare, Rarible, and Foundation.

That number would put current trades below where they were in July last year, before the NFT craze really took off. This data follows on from earlier reports this month that OpenSea, currently the largest NFT trading platform by volume, has seen sales drop 75% compared to just two months prior.

What makes this data even more interesting is while the number of trades has decreased immensely, the number of total traders hasn’t seen nearly as much of a drop, according to the data posted by Dune Analytics user hildobby. There were over 42,000 total traders in September this year compared to a peak of over 66,000 in March but a little less than the 45,000 or so that were trading in March.

 
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