Fortune reports that NFT trading volume is down 99% at OpenSea, citing data compiled by DappRadar.
As trading volumes and crypto prices have fallen during a downturn that's been dubbed "crypto winter," the floor prices for the most popular NFT collections, which indicate the lowest price that an NFT in the collection is selling for, have also plummeted. The floor price of the most popular NFT collection, Bored Ape Yacht Club, fell 53% to 72.4 Ether (about $110,000) as of Monday, from a high of 153.7 Ether on April 30, according to CoinGecko. Another popular NFT collection, CryptoPunks, is down 19% from its July peak.
Retail investors coming in after those Superbowl ads got hosed. And even now NFT schemes and collections are being hyped.
