NFt and the  bear market

What's the news?

NFT sales plunged significantly in Q3 as investors kept clear of risk assets amid a challenging macroeconomic environment. Sales stood at $3.4 billion in Q3, down from $8.4 billion 

The crunch continued

Year on year, NFT sales are down by 70% from $10.7 billion in Q3 2021. The sales peaked in Jan 2022 at $12.6 billion before declining 73%

Risk Averse markets

The investors are avoiding highly volatile & risky assets. Crypto & NFT are the primary risky assets at the moment.

OpenSea declining sales

OpenSea processed just $9.34 million in NFT transactions on August 28, compared to the May 1 peak of $2.7 billion.

Data Source

The data is provided by DappRadar. Its the leading platform for launching and tracking web3 apps 

CryptoPunk Mega Sale

Despite the crash, CryptoPunk 2924 sold  for $4.5 million. One the premium deals in the  down market.

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