NFT Sales Are Flatlining

Is this the beginning of the end of NFTs?

The rise of play-to-earn videogames—in which gamers trade NFTs—offers a glimpse into how the metaverse could attract users with monetary rewards, and what pushbacks may come with it. Photo illustration: Josephine Chu
By
Paul Vigna

The NFT market is collapsing.

The sale of nonfungible tokens, or NFTs, fell to a daily average of about 19,000 this week, a 92% decline from a peak of about 225,000 in September, according to the data website NonFungible.  

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