Non-flammable sales of tokens begin to plummet, decline in NFT interest rates, highlights over NFT oversupply of financial author

Non-flammable sales of tokens begin to plummet, decline in NFT interest rates, highlights over NFT oversupply of financial author

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Non-fungible token (NFT) assets and collectibles are starting to decline and so is interest in NFTs. In addition, it is said that an ‘oversupply of NFTs’ could harm the market, according to James Surowiecki, author of ‘The Wisdom of Crowds’.

  • In 2021, non-fungal signs were the rage and the industry has become very popular over the past few months. During March 7th to 13th 2021, the term “NFT” searched on Google in the US reached an all-time high, reaching 100 on Google Trends (GT). Since then, inquiries about NFTs in the United States have declined to 92 the week after and 95 during the past week, according to current GT data.
  • Global searches for the term “NFT” on Google have risen from a score of 100 to 95. The largest sub-area in the world that searches for “NFT” on Google comes from China. Uganda, Canada, Singapore and the USA follow respectively.
Non-flammable sales of signs start to plummet, decline in NFT interest rate, author of finance highlights NFT oversupply
Nonfungible.com data for 30-day statistics on April 3, 2021.
  • According to the GT data, the whole term ‘non-fungible token’ shows that the score has recently dropped from a 100 to an 89.
  • The NFT Top Shot market experienced a decline in sales and dropped to its lowest percentage so far, according to evalu.mark statistics on April 3, 2021.

  • Sales figures, sales in USD and active market turns for NFTs have also declined over the past few days, according to current nonfungible.com data. 30-day statistics show that NFT sales have dropped more than 80% of nonfungible.com’s market history.
Non-flammable sales of signs start to plummet, decline in NFT interest rate, author of finance highlights NFT oversupply
James Surowiecki, ‘The Wisdom of Crowds’, says that ‘history suggests that oversupply is a reliable way to end a boom, especially for collectibles.’
  • James Surowiecki, author of “The Wisdom of Crowds”, recently wrote on March 31, 2021 about oversaturation in the NFT industry. Surowiecki explains in his article entitled “An Over Supply of NFTs Is Going to Kill the Golden Goose” that “the signs of oversupply are easy to see.”
  • “With NFTs, the risk of oversupply is particularly acute because there is no one in charge and the barriers to issuance are so extraordinarily low – you can literally create a new NFT within minutes,” explains Surowiecki’s editorial. And unlike cartoons or baseball cards, NFTs do not fall apart or are thrown away. In other words, the only thing we really know about NFTs is that there will be more of them in a month than today. “

What do you think about the decline in NFT sales and interest rates and the risks of oversupply? Let us know what you think of this topic in the comments below.

Markers in this story

Canada, China, collectibles, Ethereum, Finance Writer, Google Trends, James Surowiecki, NBA Top Shot, nft, NFT interest rate drop, NFT sales, Non-fungible Token, Non-fungible token assets, nonfungible.com data, Oversaturation, Oversupply, sales, Singapore, Uganda

Image Credits: Shutterstock, Pixabay, Wiki Commons, James Surowiecki profile, nonfungible.com data,

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