As we enter the back half of 2022, the NFT market is adjacent to the broader crypto market: embarking down Bear St., with no real signs of redirection in sight yet. Daily sales volumes have dipped, Solana’s low gas fees and emerging community is positioning as a major threat, and OpenSea’s challenges continue – down a co-founder and up on suspicious flags on major collectibles.
It sets up an interesting storyline for the remainder of the year, and it’s hard to envision things getting too much worse than what we’ve seen so far into the year. Let’s take a moment to review all of the past week’s activity and action around NFTs.
