Interest in NFTs fell to its lowest point ever at 14 in the fourth week of August, according to data from StockApps.com.
This is a stark contrast to the interest in NFTs earlier this year, which reached its peak at 100 in the last week of January.
Edith Reads from StockApps comments: “NFTs have been one of the most talked about topics in the investing world for the past few months. However, it seems that interest has waned significantly.
“The crypto meltdown could be one reason why interest has decreased, as many people lost money in the market crash. It’s also possible that the novelty of NFTs has worn off. However, it’s still early days for NFTs; thus, interest may pick up again in the future.”
The NFT market remains significant in the context of the geopolitical crisis despite the general decline in interest.
For instance, to maintain its military effort, Ukraine is actively gathering money through its NFTs. It released its assortment of NFT for this reason. Besides, a charity platform called “Ukraine’s Angels” and an NFT collection in support of Ukraine were previously introduced by the Ukrainian blockchain developer ElephantsLab.