Formed by the processing of assets on the Internet in the blockchain. NFTs (non-fungible token) has been on the agenda for two years now. So much so that there are reports showing that these assets, often consisting of videos, tweets and photos, have found buyers for millions of dollars.

But new reports have revealed that NFTs are slowly losing their appeal. Data published by Dune Analytics shows that the sales volume of NFTs was between January and September of this year. From $17 billion to $466 million showed regression. This means that interest in NFT sales, which has been the subject of much controversy due to the monies paid, has declined dramatically.

97% reduction in 9 months

Data collected from leading NFT platforms such as OpenSea, NFTX, LarvaLabs, LooksRare, SuperRare, Rarible and Foundation 97% in just nine months also show a decline. In addition, this number lagged current sales on July last year. OpenSea, which is described as the largest platform in NFT, has also increased its revenue in recent months. 75% announced that he had fallen.

In addition, the data also contains some interesting information. While sales fell, similarly large declines were not seen in the number of NFT traders. According to Dune Analytics, the total number of NFT buyers and sellers in September was 42,000. However, another report from OpenSea shows the number of users on the platform last month. 5% down also revealed.

One of the biggest reasons for this decline is the most popular NFT collection Bored Ape Yacht Club (BAYC) is reportedly declining in popularity. The collection of monkey images, in which many world famous celebrities have invested large sums of money, once topped collections like CryptoPunks and TerraForms. The data also shows BAYC’s market value in recent days. a decrease of almost 10% reveals what happened.

So what do you think of this? Do you think NFTs are declining in popularity? You can share your thoughts in the comments.