CryptoPunks Toughness Tested As NFT Succumbs To 60% Drop In 1 Week | Headlines | News | CoinMarketCap
07/29/2023 15:45
Non-fungible tokens continue to play a significant role in developing the Web3 ecosystem, despite the enthusiasm around them having subsided since …
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NFT
Published on July 29, 2023 08:32 GMT+00:00edited on July 29, 2023 08:34 GMT+00:00
Non-fungible tokens continue to play a significant role in developing the Web3 ecosystem, despite the enthusiasm around them having subsided since its peak in 2021.
Unquestionably, these distinctive digital assets have been a significant force behind the NFT transformations that have taken place. Despite the wide variety of NFT collections and their accomplishments, it is crucial to recognize that some particular ones have recently been severely affected by market pressures and are now beginning to fall from their lofty positions.
Consider the situation with CryptoPunks. CoinGecko discovered that of the top 11 “blue chip” NFT projects studied, CryptoPunks suffered the worst losses.
Non-fungible tokens known as “blue chip NFTs” are regarded as highly precious and prestigious in digital …