Sunday, September 14, 2025

Latest

NFT Market And Its US$16-Billion Collapse In 2022 (So Far)

The nonfungible token craze seemed to have already seen its peak back in January 2022 as the digital asset continues to see a decline in its trading volume in the recent months.

NFT trading volume has fallen 97% since the start of the year–from US$17 billion down to around US$466 million in September 2022.

The collapse in trading volume is said to be part of the wider US$2-trillion loss during the so-called “crypto winter” as digital asset prices have fallen down to record lows.

This could spell concern for companies who just recently established their entrance in the NFT market, including GameStop Corp. (NYSE: GME). The company’s 2Q FY23 10-Q says that “revenues earned from our digital asset wallet and NFT marketplace were not material to the condensed consolidated financial statements for the three and six months ended July 30, 2022.”

But for Gareth Soloway, President and Chief Market Strategist of InTheMoneyStocks.com, the NFT market still hasn’t bottomed out, citing companies recent forays into the space.

“When you still see that kind of stuff going on, it tells you that you don’t have absolute fear and panic yet in the NFT world… ultimately, we still haven’t hit bottom,” Soloway said in a The Deep Dive interview.

The market strategist also added that NFT is “such an illiquid market” where people can launch assets that other people can pay for but the public doesn’t know the price. Then, a “lot of pumping goes on” where resellers can hike the price further.

“It’s just too much of a shady– kind of reminds me of The Wolf of Wall Street, 1980s kind of shadiness… I think there’s quality there [in the NFT market] in certain ways. I just don’t think for an average investor, there’s enough knowledge about it to make good informed decisions,” he added.


Information for this briefing was found via Bloomberg and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

One Response

  1. The biggest reason for this fall in NFT trading was its non-potential value. People mostly don’t believe its potential in long run that’s why they try to avoid trading or exchanging NFT. Also it’s hard to quantify NFT value which is a big challenge in its own way.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

EU Nixes Proof-Of-Work Crypto Ban

The European Union’s parliament voted on Monday against a proposal to limit the use of...

Monday, March 14, 2022, 11:33:56 AM

Elon Musk Confirms He Owns Ethereum, Sends Cryptocurrency Surging

It appears that Elon Musk’s admiration for cryptocurrencies is a lot bigger than previously thought....

Wednesday, July 21, 2021, 06:57:32 PM

Crypto Crash, Pierre Poilievre, and the Madonna NFT Snatch

Following a violent correction in the cryptocurrency markets, and with no small amount of schadenfreude,...

Saturday, May 21, 2022, 09:00:00 AM

Bill Gates: Cryptocurrencies are ‘Based on Greater Fool Theory’

Microsoft cofounder and billionaire Bill Gates continues to throw shade at cryptocurrencies and NFTs, scoffing...

Wednesday, June 15, 2022, 11:43:23 AM

Canaccord Raises Coinbase Price Target Following Strong Earnings Growth

On August 10, Coinbase Global (NASDAQ: COIN) reported its second-quarter financial statements. For non-GAAP items,...

Saturday, August 14, 2021, 04:04:00 PM