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 <p class="is-style-lead">Basketball legend Michael Jordan’s net worth stands at $3.5 billion and is currently higher than the entire NFT market, which was valued at over $15 billion just two years ago. </p> 
 <p>Basketball icon Michael Jordan, often heralded as the greatest-of-all-time (GOAT), has added another notch to his already illustrious belt. A recent stake sale in the Charlotte Hornets has catapulted Jordan’s net worth to an estimated $3.5 billion, per data from the Bloomberg Billionaires Index.&nbsp;</p> 
 <p>This significant financial achievement becomes even more note<a rel="dofollow" title="worth" href="https://thebittimes.com/tag/worth.html">worth</a>y when compared to the declining non-fungible token (NFT) <a rel="dofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a>. </p> 
 <p>Once a thriving sector in crypto, NFTs have recently experienced substantial drops in trading activity and value.</p> 
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    <p lang="en" dir="ltr">After selling his stake in the Charlotte Hornets, Michael Jordan's net wealth is now $3.5bn, more than pretty much the <a rel="dofollow" title="entire" href="https://thebittimes.com/tag/entire.html">entire</a> NFT <a rel="dofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> combined. pic.twitter.com/Yz6KOod2HA</p>— NFTstats.eth (@punk9059) August 30, 2023
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 <h2 class="wp-block-heading" id="nfts-have-gone-from-boom-to-gloom">NFTs have gone from boom to gloom</h2> 
 <p>Contrasting the upward trajectory of Jordan’s fortune is the downswing in NFT activity and valuation. </p> 
 <p>After peaking in January 2023 with 7.36 million sales, it fell 49% last month as sales dropped to 3.7 million. </p> 
 <p>The number of active users engaging in trading now sits at approximately 50,000, signaling a wider trend of declining interest in the space.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Top NFT floor prices plunge while sales slightly hike 
 </div> 
 <p>The market’s fall can be linked to a few reasons. </p> 
 <p>Initially, the overall dip in the crypto <a rel="dofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> has affected core assets like Ethereum, which has influenced NFT values.</p> 
 <p>Furthermore, the initial excitement about NFTs, driven by fear-of-missing-out (FOMO), has shifted to investor prudence. This is because several NFTs offer limited practical use and are still controlled by centralized marketplaces, raising uncertainties about their lasting worth.</p> 
 <p>The community has come to recognize that NFTs mostly lack real-world uses beyond digital art. Unlike crypto assets, which are being adopted in various industries, NFTs haven’t gained as much traction. </p> 
 <p>Additionally, the NFT space has been plagued by ongoing scams and frauds, with over $100 million lost to NFT-related scams in 2022 alone.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> SEC charges Impact Theory over unregistered NFT securities offering 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/michael-jordan-is-now-worth-3-5b-richer-than-the-entire-nft-market-tbt61016.html">https://thebittimes.com/michael-jordan-is-now-worth-3-5b-richer-than-the-entire-nft-market-tbt61016.html</a></p>

Michael Jordan is now worth $3.5B, richer than the entire NFT market

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