CandleFocus Study: 98% of 2024 NFT Drops Are Dead; Only 0.2% Have Generated Profits for Investors
2024-11-12
Author: Content Editor
A study has found that the non-fungible token (NFT) market is experiencing a slump, with low trading activity and steep price drops indicating a potential oversaturation of the market. The study reveals that 98% of NFT drops in 2024 have seen no trading activity since September, and 64% of them have had fewer than 10 mints. This lack of activity suggests a lack of investor confidence and excitement in NFT projects, and may indicate a mismatch between supply and demand. The decrease in interest and trading activity in NFTs and the metaverse has also led to major tech companies reporting significant losses. The report advises creators to focus on community building and offering unique utility to address the oversaturated market.
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