lue chip non fungible tokens (NFTs), which are frequently regarded as suitable long-term investments, have returned to their all-time low range for the second time since June 2022, falling below 10,000 Ether (ETH) in the blue-chip index retained by NFTGo.

Blue chip NFTs had their best day recently, on April 29, totaling nearly 14,900 ETH. However, on June 13, the blue-chip NFT index dropped to 9,331 ETH, primarily due to a floor price adjustment in the CyberKongz and CyberKongzBabies projects.

Source: NFTGo

Over 53% of NFT investors lost money on sale trades in the last 30 days. Despite the clearly gloomy market sentiment, the number of investors who hold their NFT investments is increasing.

In June and July alone, nearly 500,000 users joined the growing pool of long-term NFT investors, bringing the total number of holders to over 3 million at the time of writing. PFP (picture for proof) NFTs have the highest market capitalization of any NFT category, at $13.95 billion.

Source: NFTGo

Former market leaders such as collectibles, games, and art NFTs have a combined market capitalization of approximately $6.7 billion.

To combat illicit activities through NFT trades, NFT marketplace OpenSea announced plans to design policies prohibiting the sale of stolen NFTs on its platform.

OpenSea admitted that customers purchased stolen items unknowingly and were penalized for no fault of their own. As a result, the marketplace changed its policy to allow for greater use of police reports in detecting threats.

Aug 16, 2022
Crypto News

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