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An analysis of the NFT Drops 2024 market has revealed some harsh truths: 98% are “dead” and only 0.2% have returned profits to investors. These and other data describe the annual performance of the Non-Fungible Token sector.  NFT drops 2024: the hard truths about market development for this current year According to the report by NFTEvening “State of 2024 NFT drops”, the Non-Fungible Token market must face some harsh truths. Created in collaboration with the agency Storible, the report analyzed the performance of 29,079 NFT drops of 2024, basing on data from Dune Analytics and OpenSea and using the period January-August of this year.  🚨 #NFT market in 2024: booming collections, lower participation, dropping prices. We analyzed 29,079 new #NFTdrops to uncover what’s really happening. Dive into the data with us 👇https://t.co/tO65JamuwH — NFTevening ɢᴍ (@NFTevening) October 28, 2024 “The #NFT market in 2024: boom in collections, lower participation, falling prices. We analyzed 29,079 new #NFTdrops to find out what is really happening” What has emerged is that 98% of the NFT drops 2024 are dead and only 0.2% return profits to investors. Other key information states that 64% of the 2024 NFT drops have less than 10 mints. Also in terms of trades, it seems that 98% of this year’s NFT drops record less than 10 trades in the first week.  The price tends to decrease by at least 50% within the first three days for 98% of the 2024 NFT drops, while for 84% the all-time high price (or ATH) is equal to the mint price.  NFT drops 2024: the analysis of this year’s market beyond the numbers The numbers recorded in the report are alarming for the development of the NFT market. Specifically, it seems that this market is trying to maintain the momentum it previously had…

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Filed under: News - @ November 13, 2024 10:19 am