The Global Economic Pulse

The NFT saga: from hype to hibernation - what went wrong?


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$280. That was the highest bid for the NFT of the first tweet ever valued at over $2.9 million just a few months before the bid. That fiasco is not unique to that particular NFT as it has plagued the entire NFT market. Trading volume in the market is of $600 million approximately, far from its $17 billion peak in January 2022. As what is being described as a market bubble, the NFT bubble was fuelled by mainstream media coverage and wash trading. what led to the dramatic fall in the NFT market? join your host, Abu as he dives into the several reasons behind the fall of NFTs as well as some analysis on the future of NFTs.
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The Global Economic PulseBy Abubakar Monguno