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Art Market Overview: Are NFTs Losing Momentum?

Published on , by Vanessa Schmitz-Grucker

After generating over $44 bn in revenue in 2021, NFTs posted a 75% fall in the volume of spending in the first quarter, according to the Chainalysis platform.

  Art Market Overview: Are NFTs Losing Momentum?
 
The collapse of cryptocurrencies—which back NFTs—is the main reason for this spectacular downturn. Also according to Chainalysis, in the first quarter,…
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