NFT collections take massive price hit in 2023: Nifty Newsletter, May 24–30
The value of popular NFTs has sharply declined over the past year, with drops of up to 95%. In this week’s newsletter, read about some of the most popular nonfungible token (NFT) collections and top metaverse properties taking massive price hits in 2023. Check out how the Hong Kong Police Force launched its own metaverse platform, and how Reddit’s digital collectibles have managed to onboard almost 10 million users to the crypto and NFT space. In other news, infamous crypto hater Peter Schiff has launched his own NFT collection on Bitcoin Ordinals. Popular NFT collections take massive price hit in 2023 The value of popular NFTs from 2022 has plummeted over the past year. NFTs like Doodles, Invisible Friends, Moonbirds and Goblintown have seen their Ether (ETH) value drop by as much as 95%, while even blue-chip NFT collections have experienced an average decrease of over 40%. Despite these losses, NFT investors remain undeterred. The number of blue-chip NFT holders has increased ...