NFT Market Faces Severe Challenges With 96% Considered 'Dead'

According to Foresight News, a recent report by NFTevening reveals that the NFT market is facing significant difficulties, with 96% of NFTs considered 'dead.' These NFTs exhibit minimal trading volume, extremely low 7-day sales, and almost no presence on social media platforms. The report analyzed over 5,000 NFT collections and 5 million transactions, uncovering that more than 43% of holders have incurred losses, with an average return on investment declining by 44.5%. Additionally, the average lifecycle of an NFT is only 1.14 years, which is notably shorter than traditional crypto asset projects.