In the past, it was easy to make money in the NFT market. You could simply invest in a new token and watch your investment grow as demand for the token increases. However, over the past few months, the NFT market has become incredibly volatile. The value of many tokens has decreased significantly, and it has become much more difficult to make money investing in NFTs.Some people believe that the NFT market has entered a bear market, with many investors losing faith in NFTs and looking for other investment opportunities. Others, however, remain confident that NFTs will eventually recover and regain their previous levels of value and popularity.Some analysts predict that the NFT market is entering a period of consolidation, where only the strongest NFT projects will survive. Other experts believe that we may see NFTs play an even more important role in the future of web3 and blockchain.But the main question we want to answer in this blog post is: Is the NFT market dead? Or is there still growth potential? Let’s take a closer look at what’s been happening in the NFT market and what might be next for this exciting industry!<h2 id="header-0">Something We Did Not Expect</h2>Non-Fungible Tokens (NFTs) have clearly lost the luster they had in early 2021. The so-called bull run is over, liquidity has evaporated, and trade volumes have tanked with popular marketplace OpenSea experiencing a drop of more than 90% since May.To make matters worse, OpenSea had to let go of 20% of its workforce last July because conditions were so bad. Those who bought NFTs at this time are wondering what happened to their investment.It’s clear that the NFT market has been affected by the ongoing bear market in cryptocurrency. But this shouldn’t come as a surprise to anyone who has been following trends in the web3 space.One factor contributing to this downturn is speculation around NFTs and their ability to function as currencies. While <a href="https://nftandgamefi.com/2022/11/20/utility-nfts/" rel="noopener noreferrer nofollow">NFTs have some utility</a>, they are not designed to be used as everyday currencies or tokens of exchange.This lack of use case leads many investors to see NFTs primarily as investments, which can make them more susceptible to volatility when there is less confidence in the overall crypto market, especially in the current market conditions.<h2 id="header-1">Let’s Talk Numbers</h2>From the different NFT statistics sources, we have found out that the daily NFT sales surpassed 160,000 from October to December 2021, then decreased between January and March of this year to 80,000-120,000.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/95112cd6730f446ca2c689a15bf7b200.jpg" />Read the full article: <a href="https://nftandgamefi.com/2022/11/22/is-nft-dead/" rel="noopener noreferrer nofollow">The NFT Market is Dead…Or Is It?</a>

The NFT Market is Dead…Or Is It?

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