Key Takeaways
- Recently, on April 29, blue chip NFTs recorded their best performance, totaling over 14,900 ETH.
- The index dropped to 9,331 ETH on June 13, which was the worst-performing day in blue chip NFT history.
For the second time since June 2022, the market performance of blue chip non-fungible tokens (NFTs), which are frequently seen as promising long-term investments, fell below 10,000 Ether (ETH) in the blue-chip index kept by NFTGo.Recently, on April 29, blue chip NFTs recorded their best performance, totaling over 14,900 ETH.
Source: NFTGo (Performance indicator of blue chip NFTs)
The index dropped to 9,331 ETH on June 13, which was the worst-performing day in blue chip NFT history. This decline was primarily caused by a floor price adjustment in the CyberKongz and CyberKongzBabies projects.
Related: 19 celebrities called out by consumer watchdog group for shilling NFTs
More than 53% of NFT investors saw losses on sale trades in the past 30 days. The number of investors holding their NFT assets is increasing despite the apparent market gloom. The number of long-term NFT holders increased by about 500,000 in just June and July, bringing the total to over 3 million at the time of writing. PFP (photo for proof) NFTs have the highest market valuation of all NFT subcategories at $13.95 billion.
Source: NFTGo (Investor behavior pattern show increase in long-term holders)
The industry capitalization for others that were once market leaders, such as collectibles, gaming, and art NFTs is over $6.7 billion.NFT marketplace OpenSea revealed plans to create regulations around the selling of stolen NFTs on its platform as a zealous move to curb illegal activity through NFT trades.
OpenSea acknowledged that customers were punished for no personal fault after unintentionally purchasing illegal goods. The market changed its policy to increase the use of police records in pointing out dangers because of this incident. What are your thoughts on these recurring losses made by investors? And why do you think investments are still growing? Please comment with your views and opinions.
