Coin Gabbar Token

<h2 id="header-0">Non-fungible tokens (NFTs) took the world by storm in 2021, but have since seen a significant dip in interest as their sales volumes continue to decline, putting them in the same boat as the rest of the cryptocurrency market.</h2>Indeed, according to statistics published on October 5 by a <a href="https://www.coingabbar.com/en/price-analysis" rel="noopener noreferrer nofollow">market analytics</a> firm, sales of NFTs on OpenSea - the largest marketplace for digital collectibles - dropped 60% in Q3 of 2022, compared to Q2.As per statistics, NFT monthly sales peaked in January 2022 when they crossed 4 billion, just to drop significantly in June and continue to fall steadily afterward.Continuous declineIn late September, CoinGabbar reported that NFT monthly trading volume has dropped for the sixth consecutive month, falling 97% from its high in January and ending up at just $466 million in September.Earlier in August, statistics showed that NFT transaction activity in the second quarter had plummeted by 40% as interest in digital collectibles waned amid substantial hurdles confronting the crypto sector. Simultaneously, it was revealed at the end of August that <a href="https://www.coingabbar.com/en/crypto-currency-news-english/nft-monthly-trading-volume-falls-fifth-consecutive-month" rel="noopener noreferrer nofollow">NFT trading volume</a> on OpenSea had fallen to a one-year low.Meanwhile, the fading interest in NFTs might be attributed in part to the fact that, according to a June poll, the vast majority of consumers, or more than 64%, only acquired digital collectibles in order to sell them at a higher price and make a profit.Others (14.7%) purchased them to &#34;join a community and flex,&#34; while just 12.4% bought them to collect digital art, and only a very small minority (8.6%) bought them to access games and tools.Still some hope on the horizon?Interestingly, a subset of the crypto community remains optimistic about NFTs, like Katie Haun, founder of the $1.5 billion Web3 venture capital (VC) company Haun Ventures, who predicted that NFTs will make a comeback.According to her, this comeback would be mostly driven by the broader transition toward a digital world, which, in her opinion, would enable a variety of new use cases if the infrastructure is improved, &#34;more efficient, and user-friendly.&#34;Read also: <a href="https://www.coingabbar.com/en/crypto-currency-news-english/shib-metaverse-team-releases-a-critical-new-update" rel="noopener noreferrer nofollow">SHIB Metaverse Team Releases a Critical New Update</a>

OpenSea Monthly NFT Sales Fell 60% In Q3

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