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Popular NFT collections take massive price hit in 2023

Published 05/30/2023, 02:50 AM
Updated 05/30/2023, 04:20 AM
© Reuters.
ETH/USD
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Some of the most sought-after nonfungible tokens (NFTs) of 2022 have taken a massive hit in value over the past year. The trend mirrors the depreciating value of metaverse properties in 2023, which were considered top virtual lands for investment in 2022.

Investments in top NFT projects, including Doodles, Invisible Friends, Moonbirds and Goblintown, have lost up to 95% of their value in Ether (ETH). The value of blue-chip NFT collections alone has fallen down by over 40% on average.

Blue Chip Index calculated by weighting the market cap (ETH/USD) of blue chip collections. Source: NFTGo
Holders and traders of blue-chip NFTs. Source: NFTGo

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