, global NFT sales declined by 89% in November from a peak of $5 billion in January, Bloomberg reported.
The nosedive in NFTs sales is influenced by the Fed raising interest rates in the face of all-time high inflation coupled with “tourist money” swiftly leaving the market. That leaves retail investors in a tough spot, according to Faruq.“This general change in secular trends, that's something that will not change and will continue to escalate and become a larger part of our lives,” Faruq said.
osf_nft federalreserve _franvela Oh that's nonsense. NFT value based solely on market hype. What are Beanie Babies worth right now? NFT value super low because you can't do anything with them. Need a serious crypto game for a larger and stable market in NFTs.
osf_nft federalreserve _franvela osf_nft = legend 🔥 rektguyNFT
osf_nft federalreserve _franvela Do you want to know what ReFi is? Follow the link below ! XRPC XrpClassic ReFi 💥🚀
osf_nft federalreserve _franvela Wow! What great insight!
osf_nft federalreserve _franvela 🤢
osf_nft federalreserve _franvela Powell has already told you what he is going to do...I mean there has never been a clearer, more open federal reserve
osf_nft federalreserve _franvela NFT’s apparently are the canary in the coal mine for interest rights, got it
osf_nft federalreserve _franvela Nfts were a low interest rate phenomenon