news 
“NFT
NFTs Endure One of Their Weakest Years Since 2020 in Trading and Sales
The non-fungible token (NFT) market has faced a significant setback in the year 2024, as it experienced its weakest performance since 2020. According to DappRadar’s latest ‘Dapp Industry Report,’ despite an initial surge in trading volumes, reaching $5.3 billion in the first quarter, the NFT market struggled to maintain this momentum.
As a result of this decline, there was a dramatic drop in sales numbers compared to 2023, suggesting that NFTs were sold at higher prices, likely due to rising token values like ETH. Consequently, the year ended with a 19% reduction in trading volume and an 18% decrease in sales.
It is important to note that despite this decline, there was still significant growth in the gaming sector as it emerged as the dominant force in NFT sales, highlighting its growing importance in the broader Web3 ecosystem.
Source: cryptopotato.com
