2022 hasn’t been good for non-fungible tokens aka NFTs. Average NFT sales have been falling. And it’s not because of the Russia-Ukraine war. Average prices have taken a dive since January this year. The average selling price of an NFT went from $5,215 in the week of January 4 to $2,102 in the March 9 week, according to market data provider NonFungible.
It’s the same situation with the number of primary sales and secondary market transactions. The seven-day average fell from 140,725 in the January 31 week to 24,944 in the March 9 week.
However, NFTs could get a boost from an unexpected source, Ukraine. Ukraine’s Deputy Prime Minister Mykhailo Fedorov, who also doubles up as the country’s head of digital transformation, on March 3 announced that Ukraine would issue NFTs to fund its military.
He tweeted, “After careful consideration we decided to cancel airdrop. Every day there are more and more people willing to help Ukraine to fight back the agression. Instead, we will announce NFTs to support Ukrainian Armed Forces soon. We DO NOT HAVE any plans to issue any fungible tokens.”
Analyst Corner
This week, we got some new analysts at Crypto Dads.
And Astro got to work right away:
Meanwhile, old hands like Maximus regularly posted about Bitcoin.
However, nothing beats the thrill of a good win. Zonqd and Kenny D.Do sharing some bromance here:
