NFT sales crash 92%, but is this the full story?

A NFT logo representing the NFT crash
(Image credit: Olemedia)

Is the NFT crash happening? Data released in the last week shown NFT transactions have slowed, and even decreased 92% from this time last year. The rise of popularity of NFTs does appear to be in decline, but is this really the end or a new beginning for non-fungible tokens.

Despite the news of a decline, it's not dampening the excitement of some tech and video games companies to plan for what's to come next. Game developer and publisher Square Enix has sold off major franchises to focus on NFT gaming while Meta has announced it will integrate blockchains Ethereum, Polygon, Solana and Flow into Instagram – and users won't be charged.

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Ian Dean
Editor, Digital Arts & 3D

Ian Dean is Editor, Digital Arts & 3D at Creativebloq, and the former editor of many leading magazines. These titles included ImagineFX, 3D World and leading video game title Official PlayStation Magazine. In his early career he wrote for music and film magazines including Uncut and SFX. Ian launched Xbox magazine X360 and edited PlayStation World. For Creative Bloq, Ian combines his experiences to bring the latest news on AI, digital art and video game art and tech, and more to Creative Bloq, and in his spare time he doodles in Procreate, ArtRage, and Rebelle while finding time to play Xbox and PS5. He's also a keen Cricut user and laser cutter fan, and is currently crafting on Glowforge and xTools M1.