TechFlow reported on November 12, according to Bitcoin.com News, the latest "State of NFT Minting 2024" report revealed a grim picture of the NFT market. Data shows that 98% of NFT projects launched in 2024 have seen no trading activity since September, and 64% of projects minted fewer than 10 items.
The report指出指出that 84% of NFT projects reached a historical peak price equal only to their mint price, with most experiencing price drops of over 50% within three days after trading began. Only 0.2% of NFT projects generated profits for investors.
Researchers said the extremely low market participation indicates that many projects fail to resonate with users, likely due to a lack of uniqueness, utility, or perceived value. The report advises creators to address market saturation by focusing on community building and delivering unique value propositions. This trend also reflects a broader decline in interest in NFTs and the metaverse, as several major tech companies have paused or abandoned related initiatives.
