Reviving NFTs: Assessing Potential for a Post-Hype Resurgence

Trading Volume for NFTs Plunges to US$11.8 Billion in 2023, Reflecting a Sharp Decline from Previous Year’s Figure

According to a report by CoinGecko, the trading volume for non-fungible tokens (NFTs) dropped significantly to US$11.8 billion in 2023, compared to the previous year’s figure of US$26.3 billion. This significant decrease has raised concerns and prompted comparisons to the Dutch “tulip mania” of the 1630s, where the price of tulip bulbs skyrocketed before crashing.