The NFT bubble might be bursting already
CNN
Non-fungible tokens, or NFTs, are all the rage. But their popularity may have already peaked. Prices of NFTs, the digital certificates that have taken the art and collectibles world by storm this year, have plunged about 70% from their high point in February.
The average price for an NFT on April 5 was about $1,256 -- down from more than $4.000 in late February, according to market research site NonFungible.com. Data from The Block, another crypto research firm, shows a similarly large decline for both prices and NFT sales as well. NFTs have been an investing and pop culture mania for the past few weeks, leading some to wonder if the frenzy is a market bubble fueled by the wealthy and younger traders flush with stimulus money.More Related News
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