Unlike the early days of attention, the non-fungible token (NFT) market has already started to lose its light over the past few months.
However, data from DappRadar reveals so far record average NFT sales have increased nearly 300% from 21,815 NFTs (in January) to 82,373 NFTs a day (in May). The record showed a high jump to nearly 94,000 NFTs as crypto prices declined starting May 12th.
Despite the positive sales record, the opposite happened to the value per trade which was further affected by the declining cryptocurrency market prices.
In the first 11 days of May, data showed an average of $ 14.9 million was traded per day before declining to hit $ 6 million a day. In fact it’s no exaggeration to say investors are prepared for losses this month based on token prices slipping from $ 180 to $ 70.
At the same time, the Meme.com platform announced that it had successfully raised $ 5 million for the development of a new marketplace platform focusing on meme cryptocurrencies and NFTs.
Meme.com developers plan to set up CoinMarketCap for meme content, complete with charts and timelines for users to compare each meme and trend.
Among the investors involved include Outlier Ventures, Digital Finance Group, Morningstar, Blockhype, Spark Digital Capital, CEO of Altitude Games - Gabby Games, and Polygon co -founder - Sandeep Nailwal.
