TechFlow reported on September 3, according to Bitcoin.comNews, citing a new report from nftevening that 96% of NFT projects are considered "dead," characterized by near-zero trading volume, extremely low 7-day sales, and minimal social media presence. The report surveyed over 5,000 NFT collections and 5 million transactions, finding that more than 43% of NFT holders are in a loss position, with average return on investment declining by 44.5%.
The average lifespan of an NFT is only 1.14 years, significantly shorter than traditional crypto assets. Despite the broader cryptocurrency market showing bullish trends in 2024, the NFT sector continues to decline, with July sales dropping 41.36% compared to June.
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