On the one hand, the numbers look dire. The average sale price of an NFT has dropped nearly 50 percent since November, and fewer of them are being traded at all: OpenSea, the world’s biggest NFT marketplace, has seen its trading volume drop from $248 million USD in February 2022 to just $50 million in March.
As Nadya Ivanova, chief operating officer of L’Atelier BNP Paribas, told the Financial Times, even before then “there was a general sense that there was saturation in certain parts of the market, particularly in primate-themed profile pictures.”
But rumors of NFTs' demise may be exaggerated. According to Ivanova, “The number of buyers is still higher than the number of sellers. We are not at the point of a bubble bursting.”
As the NFT market recalibrates, it’s becoming clear that not all digital assets are made equally—and some are retaining their value better than others. Read the full article (requires subscription) to see what investors and experts expect to come next.
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The 2021 NFT Market Report: Presented by NonFungible and L'Atelier BNP Paribas
After hitting $17.6 billion in sales last year, what's next for the NFT industry?
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Moving forward, one type of asset holds particular promise.
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