Krutika Adani
NFT Markets have witnessed another significant fall this month with sales volumes dropping by 36%.
The NFT markets had also fallen by 44% in the last month.
Lack of utility, and shift of focus towards memecoins had caused NFTs to fall out of investors’ eyes in this bull season.
Pudgy Penguins, Bored Apes, Mutant Apes, Milady Maker and CryptoPunks remain the top NFT collections in July 2024.
Rather than a downfall, NFT markets are witnessing a churn causing art NFTs to fall and utility-based NFTs to gain pace.