For the past few months, there has been a MASSIVE plummet in the NFT market…but what does that mean for the future of NFTs and crypto? 🤔

Transcript

I was blown away by this!

I’ve been into NFTs for a while now. NFTs skyrocketed during COVID and for the year afterward, but now, apparently, the volume is down 97% since January 2022. That’s a lot!

So, in January 2022, over $17 billion was traded on the NFT market. However, throughout 2022, that number has been decreasing.

One of the interesting things about this, though, is that Ethereum was believed to, once they did the “Merge,” which was, essentially, ETH 2.0, that was supposed to make all transactions more eco-friendly.

The thought was that, with the Merge, ETH was supposed to skyrocket. That did not happen, though. ETH stayed very much the same without any variation.

🎧 Listen to the full episode here.