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96% of NFTs are ‘dead’ – report


Average digital token has lifespan of just over one year

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A recent report by nftevening.com reveals a troubling state of the non-fungible token (NFT) market, with 96% of NFTs actually declared dead.

The report looked at more than 5,000 NFT collections and about 5 million transactions to assess the current state of the market.

‘Dead’ means they are hardly traded anymore. 43% of NFT holders are in the red. On average, these investors have experienced a 44.5% drop in value. Notably, the lifespan of an NFT now averages just 1.14 years.

 
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The future of NFTs remains uncertain, making it questionable whether they have truly bottomed out.

Meanwhile, OpenSea, the marketplace for NFTs, must fear a lawsuit from the US watchdog SEC. The US securities watchdog indicates that a lawsuit may be imminent as NFTs should be classified as securities.

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