NFT Thefts on the Decline
– NFT thefts have dropped by 31% in July, according to a report by Peckshield.
– In July, $1.73 million worth of NFT assets were stolen, a significant decrease compared to previous months.
– Half of the stolen NFT assets were quickly sold on various marketplaces within a span of 165 minutes.
– 67.3% of the stolen NFTs were sold on blur.io, while 19.63% were sold on OpenSea, and over 10% were sold on X2Y2 NFT marketplace.
NFT Sales Dwindle
– The decrease in NFT thefts may be attributed to the dwindling sales and wavering market sentiment.
– NFT sales volume plunged about 40% in the previous month, according to CryptoSlam.
– Daily sales dropped significantly from $22 million to $13 million in July.
– NFT trading volume declined by 29% in July, compared to a peak of $1 billion in January.
Considerable Shifts in NFT Collections
– Popular NFT collections like Yuga Labs, Bored Ape Yacht Club, and Crypto Punks have experienced changes in sales and trading patterns.
Hot Take:
The decline in NFT thefts is a positive development for the NFT community. However, the decrease in sales and trading volume suggests a decline in profitability. This highlights the need for continued vigilance and security measures in the NFT space. As the market evolves, it will be interesting to see how NFTs adapt to changing trends and regain their popularity.
By
By
By