by Jamie Redman
When non-fungible token (NFT) collectibles became popular, the fractionalized NFT market grew past the $200 million range seven months ago in December 2021. Since then, the fractionalized NFT market has lost more than 76% in value, dropping to an overall market capitalization of around $50 million.
The fractionalized NFT market followed alongside the sizable growth the entire NFT industry saw last year. At its height in December 2021, the overall fractionalized NFT market valuation was approximately $212.6 million, according to metrics recorded by dappradar.com.
Today, the value has evaporated by 76.41%, as the current fractionalized NFT market capitalization is roughly $50,401,068. Over seven months ago on Sunday, December 12, 2021, the largest fractionalized NFT project market valuation belonged to the Doge NFT (DOG) with a $130.14 million market cap.
Today, the Doge fractionalized NFT project is still the top dog, so to speak, in terms of market valuation, with $19.71 million. The second most valuable fractionalized NFT project today is Etherrock #72 (PEBBLE) with $5.96 million, but back in December, it had a $22.73 million market valuation.
All of the top fractionalized NFT projects followed the same downward path like the third-largest project Feisty Doge NFT (NFD), which once held an $18.29 million market cap. Today, statistics show NFD is down to $4.22 million. Ladypunk (LADY) had a $7.67 million market valuation seven months ago, and now it’s down to $2.9 million.
LADY also once held the fourth spot, at that time in December, but now it’s coasting along in the fifth position. The fourth-largest fractionalized NFT project today is Ape Punk (APES) with its $2.99 million valuation. The fractionalized Ape Punk project was worth $3.13 million and the project Dissected Meebit NFT (DSMB) was the fifth largest last December.
Today, DSMB has slipped to the seventh-largest market valuation position among all the fractionalized NFTs. Following suit with the greater NFT industry, the fractionalized NFT market valuations have improved during the last 30 days. While NFT sales were down more than 60% in June, last month’s NFT sales were only down 5.23%, according to cryptoslam.io statistics.
Meanwhile, while DOG, PEBBLE, and NFD have the largest market caps today, they also have the most liquidity. The Doge NFT has around $4.86 million, Etherrock #72 is $1.25 million, and the Feisty Doge NFT has roughly $1.15 million in liquidity. The fourth-largest fractionalized project Ape Punk has just over $100K in liquidity, while the rest of the fractionalized gang of NFTs have less than $100K in terms of liquidity.
What do you think about the fractional NFT market economy sliding to $50 million? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Today’s Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits
As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per … read more.
Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days
Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized … read more.
Check all the news here
Author
Administraroot
