Popular NFT Collections Price Drop In 2023
Some of the most sought-after nonfungible tokens (NFTs) of 2022 have seen their value plummet in the last year. The pattern reflects the declining value of metaverse properties in 2023, which were regarded as the best virtual lands for investment in 2022.
In Ether, investments in leading NFT projects such as Doodles, Invisible Friends, Moonbirds, and Goblintown have lost up to 95% of their value. The average value of blue-chip NFT collections has dropped by more than 40%.
According to NFTGo data, the Blue Chip Index fell to 7,446 ETH from its yearly high of 12,394 ETH in July 2022.
On the contrary, the number of blue chip NFT holders over the past year has increased by more than 90%. During this time, sellers increased by 32% while buyers decreased by 30%.
(With inputs from Shikha Singh)
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