NFT Sales Drop to 16-Month Low in FTX Collapse Aftermath
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Almost a year after the nonfungible token (NFT) frenzy crested, demand for the digital certificates of ownership has evaporated. Sales have dropped to the lowest level since July 2021 — back when OpenSea was the only trading venue among the top five to have opened. One bright spot: Magic Eden, the only one among five marketplaces tracked by DappRadar to record an increase in sales volumes from the prior month.