The extremely cold crypto bear market is only getting colder, thanks to FTX’s collapse and the resulting contagion spreading to other companies—and the NFT market has lost significant steam since earlier this year. Even so, some “blue chip” Ethereum NFTs continue to command high prices, as evidenced by the sale of a Bored Ape today for just under $1 million.
Not so long ago I find out that Bored Ape NFTs in general have lost considerable value in recent months, including one purchased by Justin Bieber earlier this year for $1.3 million worth of ETH that’s only valued at around $69,000 today.
When it comes to the NFTs, I would only focus on GameFi, I’m so into WAM tournaments, so NFTs as prizes in the gaming industry are my fav, I was never a fan of this regular NFT collection such as BAYC and similar.
How about you? Which NFTs are your fav ones?
The NFT market isn’t dead, but it is significantly weakened. Data from DappRadar and Dune suggest approximately $700 million worth of secondary market NFT sales in October, compared to $5.36 billion back in January.
Do you think that bear market comes to an end, NFTs will become stronger than ever before?