Total NFT Trading Volume

Although the initial hype around NFTs may have cooled also driven by the start of the bear market that saw a 67.3% drawdown of total NFT trading volume from the all-year high of $5.79 billion in January 2022, it is evident that the technology and its use cases are maturing. Utility NFTs demonstrate their potential to reshape industries, indicating that we are witnessing the early stages of a significant shift.