One of the popular sectors in the digital asset world is Non-fungible tokens. NFTs find utility in the real world as means to store and trade digital assets. Despite challenges from the crypto bear market, there are still many opportunities for investors in the NFT marketplaces.
But now, NFTs are not doing well despite gaining more traction in the past months. NFTs’ overall trade volume fell in October, according to data from DappRadar.
The October market decline may have shaken the NFTs’ sales and trading volume. NFTs trading volume dropped 30% in October to $662 million, the lowest number recorded in 2022. The sales count also reduced by 30% to 6.13 million.
But according to DappRadar, there’s an 18% growth in monthly unique NFT traders signifying high demand. For example, the November 3 DappRadar report stated that October’s monthly individual NFT traders reached 1.11 million. That is an 18%…
